The goal of this award is to promote a young, emerging artist or an artist collective and to facilitate a solo exhibtion in das weisse haus and a one-month residency in New York as a source of inspiration. Furthermore, the prize winner is given the opportunity to establish new contacts and expand his/her network.

Artists and collectives, who have already participated in programmes of das weisse haus/studio das weisse haus are eligible to submit entries for the ExtraVALUE Art Award. 

The prize is organized by studio das weisse haus in cooperation with the Sponsoring Programme of Erste Bank and the Austrian Cultural Forum New York.