A new prize recognizing artists age 35 and under would provide the winner with $100,000 and help from mentors like Jeff Koons and Damien Hirst. The Future Generation Art Prize is the creation of the Victor Pinchuk Foundation, whose namesake is a Ukrainian billionaire and art collector. Artists in the age group will apply online for the prize, which will be awarded every two years. A group of 100 art professionals from around the globe also will nominate candidates for consideration.