The Sovereign Asian Art Prize was launched in 2003 to increase the international exposure of artists in the region, whilst raising funds for programmes that support disadvantaged children using expressive arts. Held annually, The Prize is now recognised as the most established and prestigious annual art award in Asia-Pacific. The Prize acts as a springboard, enabling many artists to achieve record prices and wider audiences for their work. Notable successes include Adrian Wong, Debbie Han, Haris Purnomo, Jeongmee Yoon, Qi Zhi Long, Rashid Rana and Yang Yongliang, amongst others.