The Rolex Awards for Enterprise were created to foster a spirit of enterprise and advance human knowledge and well-being. They support pioneering work in five areas:
- science and health
- applied technology
- exploration and discovery
- the environment
- cultural heritage
Winners are innovators who typically work outside the mainstream and often have limited access to traditional funding. Rather than reward past achievements, the Rolex Awards provide financial assistance and recognition to individuals embarking on new ventures or carrying out ongoing projects.
Young Laureates will receive a grant of 50,000 Swiss francs and also receive a Rolex chronometer. The grants must be used to complete projects.