The Finkenwerder Art Prize, initiated in 1999 by the Kulturkreis Finkenwerder e.V., has undergone a reorientation in cooperation with the Hamburg University of Fine Arts: as a new partner, the HFBK Hamburg is expanding the prize to include the promotion of young artists and, starting in 2022, will organize an exhibition of the award winners in its new studio building on Lerchenfeld. After ten renowned personalities such as Georges Adéagbo, Candida Höfer, and Daniel Richter have each been awarded the Finkenwerder Art Prize individually, in the future, in addition to the main prize of 20,000 euros, there will also be the Finkenwerder Award for Emerging Artists of the HFBK Hamburg. It is endowed with 10,000 euros and is aimed at graduates of the art college. Airbus Operations GmbH is financing the prizes, including the exhibition and publication, with a total of €50,000.⁠ ⁠A rotating jury of experts, appointed by a board of trustees, selects the most deserving candidates from among the nominations submitted.