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Wendy and Eric Schmidt are putting their money where their mouth is.
The Google co-founder and his wife, the president of the Family Foundation, have donated $100,000 to the Museum of Contemporary Art in Los Angeles to create the Eric and Wendy Schmidt Environment and Art Prize, the museum announced Tuesday.
The prize, which will be awarded every two years until 2024, will honor an artist "whose work addresses the planet's conservation and sustainability issues," the museum said in a statement.
The first winner will be announced this fall, and the first artist's work will be unveiled in the spring of 2026, the museum says.
The couple, who have three children, "have long supported projects at the forefront of science, technology, and the arts," says the museum's director.
"This new prize enables the work of artists who are creating dialogue and visibility around climate issues."
The couple, who have been philanthropists since 2006, say they decided to create the prize because "as we've seen around the world, communities appears to be essential truths around climate, conservation, and sustainability."
Nominations will be accepted through July, and a five-person jury will select the winner.
The couple will also advise the museum on the award's administration and execution.
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Social Entrepreneurship
Spotlight
Ashoka Unveils Gulf Program to Promote Social Entrepreneurship
Ashoka, a global platform for social innovation, introduced the Arab World Social Entrepreneurship Programme (ASEP) to support local social entrepreneurs in scaling up their operations in three key areas – healthcare, environment and women participation for inclusive growth.
