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The National Academy of Engineering awards annually the Charles Stark Draper Prize, which is given for the advancement of engineering and the education of the public about engineering. It is one of three prizes that constitute the "Nobel Prizes of Engineering" - the others being the Academy's Russ and Gordon Prizes. The winner of each of these prizes receives $500,000. The Draper prize is named for Charles Stark Draper, the "father of inertial navigation", an MIT professor and founder of the Draper Laboratory.