Draft:Novel Prize

The Novel Prize is a biennial literary award for a sustained work of literary fiction written in English, and is open to both published and unpublished writers from around the world. The prize seeks to reward novels of exceptional artistic and literary merit which demonstrate formal as well as stylistic innovation. The winner of the Novel Prize receives $10,000 as well as publication in North America by New Directions, in the UK and Ireland by Fitzcarraldo Editions, and in Australia and New Zealand by Giramondo. It is the only literary prize of its kind, offering not only publication but an unparalleled international reach to its winners and their work. Due to the literary significance of the prize's host publishers, winning writers can also expect to receive international publicity and high profile review.

History
Prior to the inaugural Novel Prize in 2020, Fitzcarraldo Editions ran a similar but annual novel prize, beginning in 2018, which was open only to authors resident in the UK and Ireland. In 2019, Fitzcarraldo asked New Directions, with whom a handful of their authors were already shared, to partner with them on the prize, and later, Giramando.

Judging
During the judging process, the total number of manuscripts received varies but has so far numbered between 1,000 and 1,500. Each of the three publishers reads the submissions from their territory, and after selecting five to ten favorites, forwards them onto the other two publishers. A shortlist is then assembled and announced a month or two ahead of when the winning title is announced. In 2022 the prize was shared between two writers.