The Schering Stiftung annually awards the Schering Young Investigator Award, honoring scientists who have demonstrated outstanding achievements in basic research across the spectrum of life sciences. This award targets young researchers who have completed their dissertation and have already developed a distinctive scientific profile. It aims to support them in advancing their research careers and establishing themselves within the scientific community. It carries a prize money of € 10,000.

The Schering Young Investigator Award replaces the Friedmund Neumann Prize, awarded from 2012 to 2024, and introduces the following innovations: It expands its scope to include additional fields of the natural sciences and introduces self-applications and standardized reference letters to ensure greater transparency and promote the diversity of candidates. These changes mark an advancement in award practices and aim to counteract stereotypes and improve equal opportunities.