This prize honors the work of Fred R. Cohen who made fundamental advances in a range of fields. The award will be granted every other year, starting in 2024, to a person who has made outstanding contributions in the fields of algebraic topology and homotopy theory. Nominations will be welcomed after a prize selection committee is appointed. The selection process will be based entirely on the quality of the research produced by the prize candidate. Candidates from anywhere in the world will be equally considered. The prize will include a cash award estimated to be around $4000.