The awards are a result of a partnership between the French cosmetics company L'Oréal and the United Nations Educational, Scientific and Cultural Organization (UNESCO) and carry a grant of $100,000 USD for each laureate.
L'Oréal is also involved in the "Look Good..Feel Better"- project which is a Beauty Industry Charity which was formed over 16 years ago to help women combat the visible side effects of cancer treatment for which L'Oréal is a founding member.