One of the most valuable and prestigious forms of sponsorship available to New Zealand artists is now open for applications for its next biannual round of awards. Established in 1987, the Olivia Spencer Bower Foundation has been gifting one painter or sculptor each year with a life-changing opportunity.

Called for every two years by Guardian Trust, this round of applications will produce the award recipients for both 2013 and 2014, which will be announced in September 2012. Each recipient will receive $30,000 in total, paid in monthly instalments, to allow them to pursue their work.

The art awards offer financial assistance to promote artists, more particularly emerging painters and sculptors, with emphasis on future artistic potential. The funding gives the recipient the opportunity to work for one year pursuing their own direction as a painter or sculptor, free from the necessity to seek outside employment.

On behalf of the responsible trustees, Guardian Trust manages the awards process and financial distributions to the selected award recipients. General manager of personal client services Philip Morgan-Rees says the Olivia Spencer Bower art awards set an example for other philanthropists interested in bestowing their legacy through a trust.

"Olivia Spencer Bower herself said she would have benefited from such an awards programme, and therefore set out to establish the trust with specific requirements for people with similar aspirations to hers."

Olivia Spencer Bower is remembered as a remarkable and much admired artist. Her watercolours of the South Island remain among the nation's most recognised and revered works of art.

The Olivia Spencer Bower Foundation was created as a reflection of Olivia's own experiences as a female artist in New Zealand. Unable to dedicate a substantial amount of time to her art, Olivia was keen to assist emerging and promising young artists by giving them the opportunity with total freedom to focus solely on being creative for an entire year.

Olivia Spencer Bower was passionate about art and spent much of her life discovering and promoting works of new artists. She was a member of the pioneering 'The Group' for its entirety (1928-1976), promoting artists at a time where there were no dealer galleries in Canterbury. Her passion for fostering creativity and supporting new artists continued when just a few years after the 'The Group' disbanded, the first Olivia Spencer Bower art award was presented.

The financial assistance offered by the awards has helped foster the long-term careers of many important New Zealand artists since the first award was presented in 1987. Recent winners have included Robert Hood, Eddie Clemens, Claire Noonan, Cat Auburn, Georgie Hill and Laura Marsh.

Applications will close on 30 June 2012, and the successful applicants will be notified in early September 2012. Applications are reviewed by a selection panel of independent judges.

Application forms are available from www.oliviaspencerbower.org.nz or by contacting the Olivia Spencer Bower Foundation, c/- Guardian Trust, ph (03) 379 0645 or email gary_anderson@nzgt.co.nz.