The Prize for Industrial Applications of Physics was established in 1977 by the American Institute of Physics to publicize the value of physics research in the private sector. The award was sponsored by the General Motors Corporation.
The prize was awarded biennially on behalf of the Corporate Associates of AIP and consists of $10,000, an allowance for travel to receive the prize, and the award itself.
AIP no longer awards the IAP prize.
Read about past winners here.