Wojciciki, founder of health-and-ancestry genetics company 23andMe, said that while the Nobel often recognizes scientists whose work has been widely applauded, she hopes the Breakthrough Prize will herald those whose less-visible work leads to similarly grand results.

"We want to get people in the life sciences to think big, take risks and recognize there's a major reward that could come their way," she told Velshi.

The prize's first 11 recipients are: Cornelia I. Bargmann, David Botstein, Lewis C. Cantley, Hans Clevers, Napoleone Ferrara, Titia de Lange, Eric S. Lander, Charles L. Sawyers, Bert Vogelstein, Robert A. Weinberg and Shinya Yamanaka.