The Klocker Foundation Art Prize is the central instrument for the founder Emmy Klocker to promote art. It was awarded for the first time in 2014 and then alternate between main prize and sponsorship award. The winners are chosen by an advisory board, applications are not possible. Following the intentions of the founder, the prize is given in the categories of painting and sculpture, which terms have been freely reinterpreted for the contemporary art landscape. The prize is awarded to living artists of outstanding importance to the development of Austrian art, with a special emphasis on the art of Tyrol. Each award brings with it a purchase and publication, and where possible also an exhibition. The Klocker Foundation Art Prize highlights the cutting edge of contemporary art and also raises the profile of the collection.