The Nobel Prize is a set of annual international awards bestowed in a number of categories by Swedish and Norwegian institutions in recognition of academic, cultural, and/or scientific advances for outstanding work in physics, chemistry, physiology or medicine, literature, economics, and the promotion of peace. The foundations for the prize were laid in 1895 when Alfred Nobel wrote his last will, leaving much of his wealth to the establishment of the Nobel Prize. The Nobel Peace Prize is awarded in Norway while the other Nobel prizes are awarded in Sweden.