World Wide Web inventor Tim Berners-Lee today was named recipient of the first-ever Millennium Technology Prize.

The honor, which is accompanied by one million euros, is bestowed by the Finnish Technology Award Foundation as an international acknowledgement of outstanding technological innovation that directly promotes people’s quality of life, is based on humane values, and encourages sustainable economic development.

“The Web has significantly enhanced many people’s ability to obtain information central to their lives,” says Pekka Tarjanne, former secretary-general of the International Telecommunication Union and chairman of the International Award Selection Committee. “The Web is encouraging new types of social networks, supporting transparency and democracy, and opening up novel avenues for information management and business development.”

Full press release here.