The prize is billed as
A new annual award aimed at re-establishing the importance of the British short story.
It’s funded by NESTA and there’s a £15,000 first prize.
Don’t get too excited though
The award aims to honour the country’s finest writers of short stories, and as such it is open to authors with a previous record of publication who are either UK nationals or residents.
In other words, you don’t have to be famous to win, but it helps.
On the plus side
Entries may be stories published during 2005 – or previously unpublished.
I can’t see how throwing money at the short story is going to make more people turn away from the novel – unless we are all idiots who think that it’s only worth reading if someone got paid a lot of money writing it. Fifteen grand for a story – that’s more than most novelists get for a whole book.