The Lemelson–MIT Program awards several prizes yearly to inventors in the United States.
The largest is the Lemelson–MIT Prize which was endowed in 1994 by Jerome H. Lemelson, funded by the Lemelson Foundation, and is administered through the School of Engineering at the Massachusetts Institute of Technology.
The winner receives $500,000, making it the largest cash prize for invention in the U.S.
The Lifetime Achievement Award recognized outstanding individuals whose pioneering spirit and inventiveness throughout their careers improved society and inspired others.
The Lemelson–MIT Program also awards invention prizes for college students, called the Lemelson–MIT Student Prize.