The nonprofit Victor Pinchuk Foundation announced a global competition this week for artists up to age 35 designed to help discover and support a new generation of young artists.
The foundation will accept applications for the contest on an open-enrollment basis through January 18, 2010. In October, a short list of 20 finalists will be featured in a special exhibit at the PinchukArtCentre in Kyiv, Ukraine. A panel of judges will then announce the winner of the main $100,000 prize, as well as five other prize winners in December 2010.
"This worldwide contemporary art prize will be an important contribution to the open participation of younger artists in the dynamic cultural development of societies in global transition," said Victor Pinchuk.
The $100,000 main prize will come consist of one $60,000 cash award, as well as $40,000 to cover the production of new work. The five other prize winners will win $20,000 as part of an artist-in-residency program.
The competition has already drawn the support of a number of big names in the art world. Artists Andreas Gursky, Damien Hirst, Jeff Koons and Takasi Murakami will provide in-person counsel and support to prize winners in the residency program. And Elton John and Miuccia Prada, as well as the directors of the Guggenheim, the Museum of Modern Art, the Centre Georges Pompidou and the Tate have all agreed to act as judges.
"Art prizes are really important. All children draw and paint and for some reason a lot of them stop," said Damien Hirst.
Ukranian oil magnate Victor Pinchuk founded the nonprofit Victor Pinchuk Foundation in 2006. The group works to encourage a new generation of Ukrainian leadership by promoting activities in a wide range of philanthropic areas, including health, education, culture, human rights, international affairs and local development.
