The Welch Award in Chemistry is awarded annually by the Robert A. Welch Foundation, based in Houston, Texas, to encourage and recognize basic chemical research for the benefit of mankind.
[2] Several of its recipients subsequently were awarded the Nobel Prize.
[3][4][5][6][7] The award is named in honor of Robert Alonzo Welch, who made a fortune in oil and minerals and had a strong belief in the ability of chemistry to make the world a better place.
In his will, Mr. Welch stated: “I have long been impressed with the great possibilities for the betterment of Mankind that lay in the field of research in the domain of Chemistry.” [8] The prize has a value of $500,000.
[9] Source: Welch Foundation