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The Foundation has been established in October 2007 and is a non-profit organisation and supports talented individuals from Ukraine and the Black Sea region in the fields of culture, education, science and business and may present awards for innovative and forward-looking achievements. Its mission is to support cultural, science and economic developments in Ukraine and the neighbouring Black Sea region and to promote cultural, science and economic exchange between the Black Sea region and Switzerland as well as the neighbouring countries of Western Europe.

The Foundation's mission is observed by

  • the realisation and promotion of cultural, scientific and economic projects and events in Switzerland, Western Europe and the Black Sea region.
  • the promotion of artists – in particular of musicians and fine art practitioners – and scientists through the granting of scholarships, by supporting works, projects and events which are suitable for encouraging the development of artists and for the cultivation of artistic endeavours.
  • the mediation of contacts between artists, cultural institutions, academics and academic institutions, business representatives and other representatives of the two regions in respect of the promotion of the purpose of the Foundation.