The Akutagawa Prize is a prestigious Japanese literary award established in 1935. It is named after the famous author Ryunosuke Akutagawa, known for his short stories. The prize is awarded semi-annually to recognize outstanding works of fiction published in literary magazines, promoting new talent in Japanese literature. The award is highly regarded in Japan and often serves as a launching pad for authors' careers. Winners receive a monetary prize and significant recognition, which can lead to increased readership and further publishing opportunities. The Akutagawa Prize has helped elevate many writers to prominence in the literary world.