Eugene McDermott (February 12, 1899 - August 23, 1973)[1] was an American engineer and geophysicist who co-founded Geophysical Service Incorporated (GSI) in 1930 and later its parent company Texas Instruments in 1951.

[4] Born in Brooklyn, New York, McDermott graduated from Stevens Institute of Technology in 1919 with a mechanical engineering degree.

The method attempted to locate the domes and anticlines that held oil deposits, by using a controlled explosion on the surface to beam sound waves into the earth.

In 1930, with the backing of Amerada President Everette Lee DeGolyer who invested $100 thousand for a 50% share,[7] Karcher and McDermott launched Geophysical Service Incorporated, a pioneering provider of seismic exploration services to the petroleum industry with Karcher as president and McDermott as vice-president.

During World War II, GSI built electronics for the United States Army Signal Corps and the Navy.

In 1951, McDermott, along with Cecil Howard Green, Patrick E. Haggerty, and J. Erik Jonsson co-founded Texas Instruments, with GSI becoming a wholly owned subsidiary of the new company.

Along with Cecil Green, he was a co-founder of St. Mark's School of Texas in 1950; their endowment included the donation of a planetarium, observatory, and math-science quadrangle.

The Award celebrates individuals whose artistic trajectory reveals that they will achieve the highest distinction in their fields and continue to produce inspiring work for many years to come.