Professor Stephen Hawking made the announcement along with Swiss astronuat Claud Nicollier, CEO of Omega watches Raynald Aeschlimann, Nobel winning neuroscientist Edvard Moser and Starmus founder Garik Israelian.
Professor Stephen Hawking spoke at the Royal Society in London on 19 May 2017 about the need for humanity to look for a home beyond Earth.
He also discussed the Stephen Hawking medal for science communication that will be awarded at the Starmus festival in June.
"I am aware there is a good deal of speculation in the media at the moment about my prediction that our time left on this earth," said Hawking, referring to previous comments he had made surrounding his belief that mankind must become a multiplanet species within the next 100 years.
"I strongly believe we should start seeking alternative planets for possible habitation.
"We are running out of space on Earth and we need to break through the possible limitations of us moving elsewhere in the Universe.
I am not alone in this belief and many of my colleagues will make further comments at Starmus next month.
"Further more I am delighted that the organisers of Starmus have created three limited edition gold watches.
This will be given to the winners of the science communication medals.
Launched last year, these medals offer those who have done the most in their field to communicate their love of science."
Last year saw the first awarding of the Stephen Hawking medal for Science Communication, which was awarded to musician Hans Zimmer, science writer and presenter Jim Al-Kahlili and the film Particle Fever.
Starmus is a festival dedicated to celebrating music and science, and will be held in Trondheim in Norway from 18-23 June, hosted by Edvard Moser.
"Stephen Hawking is an inspiration not just for his science, but because he has emphasised the need for science to be brought to the public," says Moser.
"I think communicating science is extremely important, now more than ever.
Science is driven by society, for the benefit of society and everyone should be involved with that.
Not just in learning about the latest discoveries, but in the way science works and how it correct itself," Moser concluded.
