The Ivo & Renata Babuška Prize will be awarded every two years in recognition of high-quality interdisciplinary work that targets any aspect of modeling and numerical solution of a specific engineering or scientific application, including mathematical modeling, numerical analysis, algorithms, and validation.

The value of the work will be measured by the quality of the modeling, mathematics and computational science, its impact on an engineering or scientific application, and the extent to which it brings together interdisciplinary perspectives.

The prize may be awarded to any member or members of the scientific community meeting the general guidelines of the award. The prize should be given for a single piece of work or a single body of work. The prize may be awarded to multiple individuals but only for contributions to a single piece of their collaborative work.