Chinese billionaire offers biggest education prize
A Chinese technology billionaire is offering the world's most valuable education prize.
The Yidan Prize will award nearly $8m (£6.64m) every year to two research projects that have the potential to "transform" global education.
Charles Chen Yidan, who co-founded China's internet company, Tencent, wants to use the prize to scale up innovative education research projects and replicate them across the world.
Universities, governments and think tanks have reacted enthusiastically to the prize, and leading US institutions like Harvard and MIT have already submitted several nominations.
But the winner might not necessarily be a household name in education. Even a local project could win the prize, if it can prove it has been effective.
"As long as an idea is replicable in other regions, we can give them an award," says Mr Chen.