The Ignaz Lieben Prize has been called the Austrian Nobel Prize. It is similar in intent but somewhat older than the Nobel Prize. The Austrian merchant Ignaz L. Lieben, whose family supported many philanthropic activities, had stipulated in his testament that 6,000 florins should be used “for the common good”. In 1863 this money was given to the Austrian Imperial Academy of Sciences, and the Ignaz L. Lieben Prize was instituted. Every three years, the sum of 900 florins was to be given to an Austrian scientist in the field of chemistry, physics, or physiology. This sum corresponded to roughly 40 per cent of the annual income of a university professor.