The Bach Prize of the Free and Hanseatic City of Hamburg (German: Bach-Preis der Freien und Hansestadt Hamburg) has been awarded since 1951, since 1975 every four years. On the occasion of the 200th anniversary of the death of Johann Sebastian Bach, the prize was founded in 1950 by the Senate and the Hamburg Parliament. The prize is endowed with €10,000 and is awarded to composers, whose works would meet the demands of Bach. €5,000 are earmarked for scholarships. Source: Wikipedia (en)