This is another example of banks supporting arts and related fields as a way of building relationships and brands. 

As people increasingly view art as a viable form of alternative investment, the Julius Baer Next Generation Art Prize returns for its second edition, expanding its reach beyond Southeast Asia to include artists in Greater China and India.

The prize is dedicated to artwork in digital media. It will recognise next-generation art talent in this digital age, the Swiss private wealth management group said in a statement this week.

It supports Julius Baer’s tradition of supporting the arts, helping young artistic talent across Asia to discover and promote emerging voices, ideas and expressions. 

The firm invites artists who live in Greater China, India, and Southeast Asia, aged between 21 and 40, to submit concept proposals in a specialised digital medium of their choice. Entries open from 19 October to 27 November 2022.

Topical themes identified by Julius Baer include: Arising Asia, Digital Disruption, Energy Transition, Feeding the World, Shifting Lifestyles, Future Cities, Inequality and Sustainability.

From a prize pool of $60,000, six winners will be selected, each standing to win $10,000 and a place on a virtual Art + Tech Accelerator Programme led by non-profit organisation The MeshMinds Foundation, the firm added.

The judging panel includes: artists Refik Anadol and Shubigi Rao; curator Fu LiaoLiao; Shivajirao Gaekwar from Sotheby’s, India; Theresa McCullough, Asian Civilisations Museum; and Simon Fisher from Ocula, the firm said.

The winners will showcase their winning concepts in a virtual and interactive art exhibition in July 2023.

Welcoming the move, Jimmy Lee, member of the executive board, Julius Baer Group Ltd and head of Asia Pacific, said: “The rapid development of digital technologies has revolutionised the art landscape, where digital art is fast becoming a prominent medium.” 

“Asia is our second home market and, with our long history of supporting art, we are thrilled to be continuing with the second edition of the Next Generation Art Prize following its successful premiere in 2021, and to extend the artist line-up beyond Southeast Asia to include all of Asia this year,” he added.

Deutsche Bank Wealth Management also supported the Frieze London and Frieze Masters event in October this year, whilst the Royal Bank of Canada backed the Masterpiece London art fair as a principal partner.

The RBC’s own art collection, which consists of more than 5,500 works in over 30 locations across Canada, and key locations globally, focuses on the work of emerging artists, with select acquisitions by mid-career and senior artists. 

The RBC Emerging Artists Project also supports organisations that provide the best opportunity for advancing an artist’s career in genres including visual arts. See more here.