The Knut and Alice Wallenberg Foundation supports long-term, free basic research beneficial to Sweden, mainly in medicine, technology, and the natural sciences. This is achieved through long-term grants to excellent researchers and to projects. The Foundation can also initiate grants to strategic projects and scholarship programs. Since 1917, the Foundation has awarded more than SEK 29 billion in grants for research and education, of which almost SEK 2 billion has been awarded annually in recent years, making the Foundation the largest private funder of scientific research in Sweden and one of the largest in Europe.