The Swedish Academy is a prestigious institution based in Stockholm, Sweden, founded in 1786. Its primary purpose is to promote the Swedish language and literature, and it is best known for awarding the Nobel Prize in Literature annually to authors who have made significant contributions to the literary world. The Academy consists of 18 members, including writers, scholars, and cultural figures. It plays a vital role in preserving and developing Swedish literary heritage, and it also engages in various cultural activities, such as publishing works and organizing events to celebrate literature and language.