A prize entitled the holy name of the prophet of Islam and given to Muslim scientists, the Mustafa Prize is a top science and technology award granted to the top researchers and scientists of the Islamic World biennially.

In 2012, the Vice-Presidency proposed holding a prize that came from the heart of scientific and technological activities in Islamic countries, which was approved by the Supreme Council of the Cultural Revolution.

“The Mustafa Prize” is granted to innovative works in the knowledge borders. These works are presented by prominent scientists in various science and technology fields and can improve the life of people. This 500,000 USD award is provided by investors on the path of scientific excellence of Muslim countries.

Holding this award internationally, it recognizes the scientific potential of the Islamic community and provides a platform for scientific and technological interactions between countries; interactions that contribute to the scientific and technological development of the Muslim world.

The Islamic community that is included in this award applies to all citizens of Islamic countries regardless of their religion. All Islamic and non-Islamic countries can participate in this award. In fact, it can only be said that non-Muslims living in non-Muslim countries are not the direct target audience of this award. In this regard, two rounds of the international award have been performed with the cooperation of various Islamic countries. Professor Mohammad Amin Shokrollahi, a faculty member in Swiss Federal Institute of Technology Lausanne and the founder of the first computer science summer school in Tehran, Professor Erol Gelenbe, a member of Bilim Academy and faculty member of Imperial College, London, are among the laureates of the award.

Some of the criteria considered in selecting works in the Mustafa Prize include effectiveness of these works and make a tangible change in the field of science desired and affect the activity done in people's lives.

The award is based on the synergy and scientific and technological development of Islamic countries that can work together to prove to the world the capabilities of the Muslim world and to address their technological needs by relying on existing resources. One of the goals of the award has been the movement of scholars of the Islamic world to strive for scientific advancement worldwide and to help introduce and redefine the great Islamic civilization worldwide. The award seems to open up a new opportunity for networking and collaboration among scholars in the Islamic world.