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Source: Dengeki Novel Prize

The Dengeki Novel Prize (電撃小説大賞, Dengeki Shōsetsu Taishō) is a literary award handed out annually (since 1994) by the Japanese publisher ASCII Media Works (formerly MediaWorks) for their Dengeki Bunko light novel imprint. The contest has discovered many popular and successful light novelists, like Kouhei Kadono and Yashichiro Takahashi. Originally called the Dengeki Game Novel Prize, the name was changed in 2003. The main Dengeki Novel Prize awards consist of the Grand Prize (¥3 million), Gold Prize (¥1 million) and Silver Prize (¥500,000). In addition to the money received, the winning novelists get their work published under Dengeki Bunko with the addition of an artist for the illustrated aspects of the light novels. However, if an entry is awarded the Media Works Bunko Prize, the winning novel will be published under ASCII Media Works' Media Works Bunko imprint, along with the author winning ¥1 million. Often, the name of the novel series is changed from what it was originally titled when it won the prize. There are over 5,000 submissions annually since 2011, and it is considered the largest prize for light novels.