In partnership with Israeli prime minister Benjamin Netanyahu and the Jewish Agency for Israel, the Genesis Philanthropy Group, an Israel-based nonprofit working to develop and enhance a sense of Jewish identity among Russian-speaking Jews, has announced the launch of a $1 million prize to honor Jewish leaders for their achievements in the fields of science and the arts.

Sponsored by GPG, the Genesis Prize will be awarded annually in the spring with the goal of drawing attention to Jewish contributions to human development and forging stronger bonds between a younger generation of Jews and the state of Israel. A prize committee chaired by Jewish Agency chairman Natan Sharansky and comprising retired judges, Jewish community leaders, and representatives from the prime minister's office and GPG will select the winner through a multi-stage process.

"The prize symbolizes Jews' great contribution in human development and will be a source of pride for young Jews around the world," said Netanyahu. "The Jewish people have developed excellence over the years thanks to [their] values and heritage. This is an important step for the cohesion of our people and symbolizes [our] unity around Jewish values."