Dubai: The benefit of private funding was reinforced as the Abraaj Capital Art Prize (ACAP) announced on August 27, 2012 its five winning artists who will receive a grant of $100,000 (Dh367,000) each for their projects.

The prize is based on proposals for new — instead of completed — artworks, which become permanent additions to the Abraaj Capital Art Collection following an unveiling at Art Dubai.

This year’s winners are Vartan Avakian (Lebanon); Iman Issa (Egypt); Huma Mulji (Pakistan); Hrair Sarkissian (Syria); and Rayyane Tabet (Lebanon). The Abraaj Capital Art Prize, part of leading private equity manager Abraaj Capital, is the art prize for artists from the Middle East, North Africa and South Asia (Menasa).

Artists spoke to Gulf News on how the funding will help them develop ambitious projects which wouldn’t have been possible otherwise.

Mulji, who specialises in sculpture, and has held exhibitions in Mumbai, Karachi, London, New York, and Dubai, said, “The new project is more ambitious than any of my previous works in sculpture in terms of scale. With this [funding], I could dream bigger and take more risks.”

Mulji, a teacher at the School of Visual Art and Design at Beaconhouse National University in Pakistan, added that apart from the opportunity to showcase work internationally, writing the proposal in itself made her push her creative boundaries.

Issa, a mixed media — sound, sculpture, photography and video — artist, who lives and works between Cairo and New York, and has exhibited in Berlin, Cairo. London, Dubai, and New York, said, “I have never had this kind of budget for a project before — it is amazing. It is also a huge responsibility to use it wisely.”

She added, “My project will take influences of history and language from my earlier works. I will complete my project in New York.”

The artists also said that they aren’t at liberty to divulge details about their works before the unveiling.

Savita Apte, chair of ACAP spoke to Gulf News about the importance of private funding to help cultivate art in the region, and ensure that the creative resources are recognised.

This region hadn’t been recognised for its creative potential. We have spotlighted international attention on the creativity of this region.” Of funding, she said it has been crucial in the way it has changed perceptions. She explained that parents of aspiring teenage artists realise that being an artist is worth supporting academically. “Further, the artworks from different countries have opened up cultural histories for its people. It has also brought attention to another fact — art from the region, like any other, has an incredibly free voice.”

This year’s winners have started working with the guest curator Murtaza Vali who will supervise the production of the artworks and the subsequent display at Art Dubai in March 2013. Applications for the sixth edition of the ACAP will be accepted online (www.abraajcapitalartprize.com) for curators from October till December 2012, and for artists from November 2012 till January 2013.