Every year, the Calw Hermann Hesse Prize is awarded on July 2, Hermann Hesse's birthday. From the current year (2002), the value of the prize has been increased to €15,000 (previously DM 20,000). It is awarded alternately to a German-language literary periodical or a translator of the works of the Calw-born Nobel Prize Winner. The prize is funded by Sparkasse Pforzheim Calw and broadcaster Südwestfunk, Baden-Baden. The award made to a literary periodical is also supported by the state of Baden-Württemberg. Additionally, the Calw-based Hermann Hesse Foundation awards the Hermann Hesse Scholarship in memory of the writer Hermann Hesse with a view to fostering literary culture and to furthering international understanding in the sense intended by Hermann Hesse. Three times a year, a writer or literary translator spends three months living in the "Dichterklause" in the centre of Calw, close to the house in which Hermann Hesse was born. This is designed to give Prize Winners a chance to produce or complete a major work or assignment.