Victor Pinchuk Foundation Inaugurates First Worldwide Art Prize, Awarded through an Open Competition, in Support of a New Generation of Artists

$100,000 Prize, Mentorship by Renowned Artists and Exhibition at PinchukArtCentre are Among the Benefits of Major New Award

KIEV, UKRAINE
On 8 December the Victor Pinchuk Foundation announced the inauguration of the Future Generation Art Prize, a major new international competition for artists up to 35. Established to discover and provide long-term support for a generation of emerging artists, wherever they may live and work, this unique artist-focused prize aims to make a major contribution toward the production of new work by young artists.

The biennial Prize is distinguished by:

• its global dimension;
• its focus on a young generation of artists;
• its open and democratic Internet application process;
• the long-term commitment of leading artists of our time;
• a distinguished Board, Jury and Selection Committee;
• an exhibition of shortlisted artists at the PinchukArtCentre in Kiev, one of the largest and most active new contemporary art institutions in Europe;
• and an award of $100,000, to be conferred by a respected international jury.

Applications for the Prize will become available online on January 18, 2010, at the competition’s website, www.futuregenerationartprize.org. The exhibition of shortlisted artists will open at the PinchukArtCentre (PAC) in October 2010. The jury will announce the winner of the main prize in December 2010, and up to five special prizes for artists who will be provided with various forms of support.

To encourage the assistance of one generation of artists to the next, a group of renowned Mentor Artists has committed its long-term participation in the Prize and will provide in-person counsel and support to the Prize winners, and one of the Mentor artists will have a parallel show at the same time as each shortlist exhibition. The Mentor Artists are Andreas Gursky, Damien Hirst, Jeff Koons and Takashi Murakami.

A distinguished international Board oversees the Future Generation Art Prize. In addition to chairman Victor Pinchuk and the four Mentor Artists, the Board’s membership includes Eli Broad, Dakis Joannou, Elton John, Miuccia Prada and art museum directors Richard Armstrong (Solomon R. Guggenheim Foundation and Museum), Glenn D. Lowry (The Museum of Modern Art), Alfred Pacquement (Musée nationale d’art moderne, Centre Georges Pompidou) and Sir Nicholas Serota (Tate).

Extending the reach of the Future Generation Art Prize, an invited group of approximately one hundred arts professionals from around the world will nominate artists for consideration. By combining the open application process with these nominations, PAC aspires to achieve the participation of a true global cross-section of the up-to 35 generation.

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