Sponsored Contests in the Corporate World

In the 1970s, corporate sponsorship was primarily associated with the promotion of culture. Today, companies are increasingly turning toward other sectors, such as social responsibility, healthcare, and sports.

Cultural Sponsorship

Despite this trend, cultural promotion still accounts for more than one-third of all corporate sponsorship activities. Sponsoring or organizing art competitions are among the initiatives undertaken in this area. This type of event is generally funded by very large corporations with the goal, as with any philanthropic endeavor, of gaining recognition and building a strong brand identity. Additionally, these initiatives allow companies to benefit from the resulting tax incentives.

Sponsored Contest Examples

First, the “Audi talents awards,” which annually recognize the artist with the best project across various categories, including contemporary art, design, music, and short film. The winner receives financial support, assistance in bringing their project to life, and media coverage from the organizing company. A second example is the “HSBC Photography Prize,” an annual competition designed to reward two photographers whose work is not yet widely recognized. To promote the winners’ work, the group organizes an exhibition in the capital and then in regional areas, and commits to acquiring several of the photographers’ pieces. Meanwhile, Bayer encourages artists through its cultural department. The company organizes over a hundred international events each year; for instance, it has previously supported the “Lyon International Chamber Music Competition.” Beyond competitions, corporations engage with the arts in various ways. General Electric chose to sponsor the “Les Eurockéennes de Belfort” music festival. Other major international corporations have financially contributed to the restoration of halls and galleries within the Louvre and the Palace of Versailles. This includes companies such as Vinci, Total, and Nippon Television Network.