The Fritz J. and Dolores H. Russ Prize is an American national and international award established by the United States National Academy of Engineering (NAE) in October 1999 in Athens. Named after Fritz Russ, the founder of Systems Research Laboratories, and his wife Dolores Russ, it recognizes a bioengineering achievement that "has had a significant impact on society and has contributed to the advancement of the human condition through widespread use". The award was instigated at the request of Ohio University to honor Fritz Russ, one of its alumni.

Rangaswamy Srinivasan is a physical chemist and inventor with a 30-year career at IBM Research. He has developed techniques for ablative photodecomposition and used them to contribute to the development of LASIK eye surgery.