Bank Austria Art Award 2016:
Crowdfunding, awards and a new prize
- Bank Austria awards EUR 218,000 again this year
- Crowdfunding campaign launch on 18 May at wemakeit.at
- Available while funds last
- Additional award for social commitment
A.S.H. - Austrian Superheroes, Friedrich Cerhas Chansons, J.C. Footwear in Salzburg – these are just three examples of the 31 successful projects that have been realised since 2015 using funds from crowdfunding campaigns as part of the "new" Bank Austria Art Award.
Bank Austria is a fixture on the Austrian cultural landscape and one of the largest promoters of culture in the country; since 2010 it has awarded the largest amount of private cultural funding in the country every year with the Bank Austria Art Award. The Art Award was redesigned in 2015, principally to meet the funding needs of creative artists even more efficiently and strengthen the regions. The Bank Austria Art Award has become the most successful crowdfunding initiative in Austrian culture. More than EUR 330,000 has been channelled into the Austrian creative scene together with private financiers. The Bank Austria Art Award has thus become an active "catalyst" for innovative cultural projects.
Robert Zadrazil, CEO of Bank Austria, explains: "This year with the seventh Bank Austria Art Award we will be continuing the innovative path of cultural funding that was started last year. From 18 May the focus of the Bank Austria Art Award 2016 will again be on (reward-based) crowdfunding, and obviously on recognising the outstanding achievements of key Austrian cultural institutions as well as cultural journalists."
Additional incentive for connecting art and social commitment
Robert Zadrazil continues: "We understand cultural promotion as taking our own social responsibility. We will also be awarding another prize among the projects that are successfully implemented with Bank Austria using a crowdfunding campaign." Here, the jury selects a project that impresses by virtue of its coherent, conceptual links between art and social commitment. In addition, existing institutions are again recognised for their merits in Austrian art and culture. This takes the form of a nomination process triggered by crowdfunding with a jury of prominent members. The cultural journalism award is given by the same jury.
Breakdown of the Bank Austria Art Award 2016:
The EUR 218,000 prize money of the Bank Austria Art Award breaks down as follows:
- Support of crowdfunding campaigns in cultural fields: EUR 100,000 (while funds last)
- Bank Austria Crowdfunding Award (selected by board of trustees): EUR 10,000
- Main Bank Austria Art Award (nomination and selection by a jury): EUR 100,000
- Bank Austria Art Award for cultural journalism (nomination and selection by a jury): EUR 8,000
How does the crowdfunding work?
As part of the Bank Austria Art Award the bank provides EUR 100,000 for crowdfunding campaigns in support of projects throughout Austria. Bank Austria is particularly interested in fresh and innovative projects that bear social relevance. To offer as many projects as possible the chance of success, every participating project can receive up to EUR 5,000.
Each crowdfunding campaign that successfully takes part in the Bank Austria Art Award receives a pledge for 33 percent of its total funding from Bank Austria. This is subject to the first 33 percent being financed by at least 20 sponsors. The last third must then be crowdfunded again. The entire amount is paid out once the funding campaign is successfully completed (minus a commission to wemakeit).
Strong partner in the shape of wemakeit.at
As its partner, Bank Austria has again teamed up with crowdfunding platform wemakeit.at, which was established as an artistic initiative in Switzerland in 2012. Thanks to personal support and a focus on creative projects, it has developed into one of the largest and most successful crowdfunding platforms in Europe. This means wemakeit.at is the ideal partner for the Bank Austria Art Award: the expertise and services of wemakeit complement the art promotion of Bank Austria, turning it into a complete package for the Austrian creative scene.
Bank Austria Art Award supported by information campaign
From the middle of April a large advertising campaign began in Austrian print and online media, along with an extensive information campaign on the social media channels of Bank Austria and wemakeit.at.
Bank Austria and wemakeit.at extend an invitation to attend an Information and Art Award Kick-Off event to be held at 5pm on 27 April 2016 in the "tresor" of the Bank Austria Kunstforum Wien. This is where guests can learn about the experiences of projects successfully funded with the Art Award in 2015. The campaign will also be supported with information webinars.
All the information about the Bank Austria Art Award 2016, including detailed information on the crowdfunding process and the deadlines, can be found at: kunstpreis.bankaustria.at
Bank Austria Events & Sponsorship
Katja Erlach, Tel. +43 (0) 50505-56839
Bank Austria Media Relations Austria
Matthias Raftl, Tel. +43 (0)5 05 05-52809