The biannual Future Generation Art Prize is the only prize for the young generation of artists with a global dimension and guided by an open, free, and democratic application process (online). Supported by an eminent board, distinguished jury, and outstanding selection committee, the Prize brings together the best of the art world to champion a new generation of artists.

Together with its award of $100,000 and commitment to commission new works, the Prize sustainably supports artists around the globe.

With a network of over 60 partner platforms and 400 correspondents all over the world, the Prize benefits from its unique partners who work as ambassadors and encourage artists to apply for the prize.

In 2007, he founded EastOne Ltd., an international investment advisory company whose portfolio comprises more than 20 businesses and large-scale projects, including Interpipe and assets in Ukraine and internationally in media, oil and gas, ferroalloys and others. In 2012, he opened an IT business incubator in Kyiv, Eastlabs, and the first newly built metallurgical plant in Ukraine for 45 years, a state of the art steel mill that also includes large scale installations of world renowned artist Olafur Eliasson.

Mr. Pinchuk served two terms as an elected Member of the Ukrainian Parliament, from 1998 to 2006. He retired from politics to focus on his business and philanthropic activities.

For over 12 years Mr. Pinchuk has developed philanthropic projects in Ukraine and internationally. In 2006, he consolidated these activities under the Victor Pinchuk Foundation, which became the largest private Ukrainian philanthropic foundation. Its mission is "Empowering future generations to become the change makers of tomorrow." It focuses on education, healthcare, providing access to the inspiration of contemporary art, and fostering Ukraine's international integration.

Mr. Pinchuk serves on the Board of the Peterson Institute for International Economics, the International Advisory Council of Brookings Institution, the board of trustees of the Museum of Contemporary Art (MOCA) and the International Advisory Board of the Atlantic Council.

Mr. Pinchuk was on the "2010 Time 100 - The World's Most Influential People" ("thinkers" section, along with Steve Jobs, Lee Kuan Yew, Zaha Hadid and others); he was honored along with Elena Pinchuk at the Elton John AIDS Foundation's «An Enduring Vision» ceremony in 2010 for contributions to the fight against HIV/AIDS; he has been included for five consecutive years in the "ARTnews 200 Top Collectors" and the "ArtReview Power 100" (#38 in 2013) and was presented with the Trebbia European Award for support of the arts and culture (2011). He is an Honorary Citizen of Kiev (2009). In 2013 Victor Pinchuk has received from Aurélie Filippetti, French Minister of Culture and Communication, the insignia of Knight in the "Ordre des Arts et des Lettres". November 18, 2014 in Kyiv, Ukrainian businessman and philanthropist Victor Pinchuk was presented with the Metropolitan Andrey Sheptytsky Award – 2014 for his work in fostering Ukrainian-Jewish relations and advancing his homeland's European aspirations. July 13, 2015 in Florence, Italy, Victor Pinchuk, is honored with "Palazzo Strozzi Renaissance Man of the Year Award 2014."

On February 19, 2013 Mr Pinchuk committed to give half or more of his fortune during his lifetime and beyond to philanthropic causes, joining the Giving Pledge, a philanthropic initiative founded in 2010 by Bill Gates and Warren Buffett.