Regulation 2014

(this page was last updated in February 2015)


Investidor Profissional Art Prize – PIPA, is an initiative of Investidor Profissional Gestão de Recursos, coordinated by the Instituto Investidor Profissional (IIP) in partnership with the Museum of Modern Art in Rio de Janeiro – MAM-Rio. It was designed to promote the Art, Artists in Brazil and the city of Rio de Janeiro, encouraging domestic production of contemporary art.

The Investidor Profissional Art Prize, hereinafter simply PIPA, aims to select artists as winners of three categories: PIPA, PIPA Popular Vote Exhibition and PIPA Online, as defined below in this Regulation.

1. Definitions

For purposes of this Regulation, the following definitions are taken:

1.1) PIPA Board: senior management board of PIPA consisting of 5 (five) to 8 (eight) members, consisting of three (3) representatives of IIP, two (2) representatives of MAM-Rio and the other invited among knowledgeable professionals, Brazilian or foreign, who work with contemporary art.

1.2) PIPA Coordination: Instituto Investidor Profissional’s team of employees and volunteers

1.3) Nominating Committee: A set of 20 (twenty) to 40 (forty) renowned professionals, Brazilian or foreign, that work with contemporary art, invited by PIPA Board, of which each member will indicate up to 3 (three) names of artists qualified to participate in the PIPA.

1.4) Nominated Artist: artist indicated by at least one member of the Nominating Committee.

1.5) Participating Artist: artist, who, indicated by at least one member of the Nomination Committee, signs the “Term of Participation” and accomplishes all the requirements of PIPA Coordination within the terms fixed.

1.6) Finalist: the 4 (four) selected artists by PIPA Board, among the Participating Artists (qualified above on item 1.5)

1.7) Award Jury: group of 5 (five) to 7 (seven) members, invited by PIPA Board, who will select the winner of PIPA among the 4 (four) finalists.

1.8) PIPA 2014 Winner: the artist selected by the Award Jury among the four finalists.

1.9) PIPA Popular Vote Exhibition: category in which the visitors at the PIPA Finalists’ exhibition at MAM-Rio vote on their favorite artist among the four finalists.

1.10) PIPA Popular Vote Exhibition 2014 Winner: Finalist Artist who receives the largest number of valid votes for PIPA Popular Vote Exhibition category.

1.11) PIPA Online and PIPA Popular Vote Online: categories in which all the Participating Artists (qualified above on item 1.5), are invited to take part in a vote on the Internet.

1.12) PIPA Online 2014 Winner: selected by a Jury among the five most voted artists on the 2nd round of PIPA Online voting. The Jury for the online award is composed by Lucrecia Vinhaes (coordinator and a board member of PIPA and IP Institute), Luiz Camillo Osorio (MAM-Rio’s curator and PIPA board member) and a representative of Sacatar Foundation.

1.13) PIPA Popular Vote Online 2014 Winner: the most voted artist on the 2nd round of PIPA Online voting

1.14) MAM-Rio: Museum of Modern Art of Rio de Janeiro, based in the City and State of Rio de Janeiro, at Avenida Infante Dom Henrique # 85, Gloria, CEP 02021-140, CNPJ/MF# 33.467.002/0001-44.

1.15) IIP: Instituto Investido Profissional, based in the City and State of Rio de Janeiro, at Avenida Ataulfo de Paiva, # 255, 9th floor, Leblon, CNPJ/MF # 11.760.852/0001-05

2- Governance

2.1) The PIPA Board 2014 seven (7) members are:

○ Carlos Alberto Chateaubriand
○ Christiano Guimarães Fonseca Filho
○ Flávio Pinheiro
○ Lucrécia Calcado Vinhaes
○ Luiz Camillo Osorio
○ Moacir do Anjos
○ Roberto Vinhaes

2.2) The PIPA Board have the following powers and duties:

(i) Contribute to the credibility and visibility of PIPA, coordinating its management and execution.

(ii) Ensure compliance with the rules of PIPA, especially this Regulation.

(iii) Coordinate the process of selecting members of the Nominating Committee and members of the Award Jury.

(iv) Discuss and propose possible changes in the PIPA’s Regulation.

(v) Decide, ultimately, about all the possible omissions and on all questions that may be presented in connection with this Regulation and PIPA.

3- Participation

3.1) Participation in PIPA is free and and takes place only through the acceptance of invitation by the nominated artists.

3.2) The selection of artists participating in the PIPA 2014 will occur as follows:

3.2.1) Each member of the Nominating Committee will nominate up to 3 (three) artists based on the criteria of being an artist with a recent and promising trajectory, already highlighted in the contemporary arts scenario. The members of the Nominating Committee must have in mind the value of the award for the development of the winner. The art dealers who are members of the Nominating Committee may not indicate artists who are represented by them.

3.2.2) PIPA Coordination will invite the Nominated Artists to take part in PIPA. Become Participating Artists whose sign the “Term of Participation” and accomplish all the requirements of PIPA Coordination within the terms fixed.

3.3) PIPA Board will select from among those Participating Artists, 4 (four) finalists, taking as one of the criteria the number of indications received.

3.3.1) The 4 (four) Finalists artists should present artworks of their own, preferable but not necessarily new, for the exhibition to be held at MAM-Rio, in accordance with the museum’s curatorship. The artists may compete with works in any media or format.

3.4) Participation in PIPA, as well as the accuracy of information provided for PIPA Coordination are the sole responsibility of the participants.

3.5) Neither members of the Nominating Committee nor members of the Award Jury may not be accepted as PIPA participating artists.

3.6) PIPA winners ( elected by the Award Jury) in previous editions of the Award can not be nominated. All other participating artists in other editions of the Prize, even the winners in other category ( Popular Vote or PIPA Online) can compete on the following years.

3.7) Criteria for disqualification and exclusion from PIPA:

3.7.1) Artists who do not fit in the nominating requirements.

3.7.2) Artworks that are not made by the participating artists.

3.7.3) Participants who commit any kind of fraud.

3.8) May also be disqualified and excluded from PIPA:

3.8.1) Artists who do not present all required documents within the time limit established by PIPA Coordination.

3.8.2) Nominations by members of the Nominating Committee received after the time limit established by PIPA Coordination.

4- Awards

4.1) All Participating artists will be entitled to:

4.1.1) Profile page at PIPA website, Portuguese version (

4.1.2) Profile page at PIPA website, English version ( )

4.1.3) Participation in video exclusively made for PIPA 2014 to be published on PIPA’s websites.

4.1.4) Insertion in print edition of PIPA 2014 catalog.

PIPA Online

4.2) PIPA Online category will happen in two rounds. Move on to the second round only the artists who obtain more than 500 votes in the first round. The score is reset for the beginning of the second round.

4.2.1) The most voted artist in PIPA Online’s second round will be appointed PIPA Popular Vote Online 2014 Winner and will receive a donation of R$5,000 ( five thousand Reais).

4.2.2) PIPA Online Winner: selected by a Jury among the five most voted artists, based on the portfolio and artist’s page at the website, on the 2nd round of PIPA Online voting will receive a donation of R$10,000 (ten thousand Reais)  plus a two month artist residency program at Sacatar Foundation, at Itaparica, Bahia, Brazil.

4.2.3) If only one artist receives more than 500 votes in the first round,he will be declared the PIPA Popular Vote Online winner and PIPA Online winner without the need of a second round.

4.2.4) If no artist receives more than 500 votes in the first round, there will be no PIPA  Popular Vote Online Winner.

4.2.5) If no artist receives more than 500 votes in the first round, the jury will select PIPA Online Winner among the five most voted artists based on the portfolio and artist’s page at the website.

PIPA Finalists

4.3) The 4 ( four) finalists will be entitled to:

4.3.1) PIPA 2014 Finalist Certificate.

4.3.2) Highlighted insertion in PIPA 2014 catalog, including a brief profile and images of his/her artworks.

4.3.3) Donation of R$ 10,000 (ten thousand Reais), given between the moment his/her announcement as one of the PIPA’s finalists and the exhibition setting up. This amount will be considered part of the total of the prize to be received for the finalists that become PIPA or Popular Vote exhibition winners.

PIPA Popular Vote Exhibition

4.4) The winner of this category will be entitled to:

4.4.1) PIPA Popular Vote Exhibition 2014 Winner Certificate.

4.4.2) Additional donation of R$ 10,000 (ten thousand Reais), for a total of R$ 20,000.00 (twenty thousand Reais) since he/she has
already received $ 10,000 as a finalist.


4.5) The Award Jury will select, during an Assembly, the winner based on the portfolio, the artwork(s) showed at MAM-Rio’s exhibition and on the award to be received. The weight of the factors is at the members of the Award Jury sole discretion, and may even vary each year.

The PIPA 2014 Winner elected by the Award Jury will be entitled to:

4.5.1) PIPA 2014 Winner Certificate.

4.5.2) Additional donation of R$ 90,000 (ninety thousand Reais), of which a part might be used for a benefit to be defined by PIPA Board. The benefit may be to fund the winner’s participation in an international artist residency program, an exhibition, a participation in an international art fair or other.

4.5.3) The sum of the above value (item 4.5.2), with the amount of R$ 10,000 (ten thousand Reais) of the item 4.3.3 (regarding finalist status) make a total of R$ 100,000 (one hundred thousand Reais).

4.5.4) The benefit defined by PIPA Board and the donation can not be segregated, except in the case of resign or impossibility of the winner, in which case the beneficiary will be decided by the Board Member and Member of the Award Jury- Luiz Camillo Osorio.

Awards – Additional information

4.6.1) The same artist may win PIPA, Popular Vote Exhibition, PIPA Online and PIPA Popular Vote Online.

4.6.2) The finalist(s) who not comply with the requirements of this Regulation will be disqualified and will lose the awards.

4.6.3) The sending of the images that will comprise the PIPA’s catalog, referred as award , on the terms of the item 4.1, shall be in the sole and exclusive responsibility of the Participating Artists themselves, which should submit the image file according to the request by PIPA Coordination.

5- Artists’ duties

5.1) All values of donation to artists described in this Regulation correspond to the total disbursement to be made by IIP. It is up to artists and / or their galleries, when applicable, to afford all expenses relating their respective participation in PIPA and the fulfillment of the obligations established herein, including but not limited to travel tickets, food, insurance, assembly and disassembly, transport of works, delivery of works donated, payment of any taxes or penalties for ECAD (when he or she uses music in its works), etc.

5.2) All amounts donated by IIP to the artists are gross, ie any taxes, fees, contributions, fines, interest on late payments, etc. are the responsibility of the participating artists.

5.3) The finalists artists are encouraged to present new works, but this is not a requirement of PIPA.The organization suggests that according to the dimensions of the work, the artist present more than one work.

5.4) Each one of the four (4) finalists agrees to donate an artwork of his/her own to MAM-Rio, as well as transfer or assign any pecuniary rights relating to the donated works, such as reproduction, transmission and exhibition for MAM-Rio.

5.4.1) The curator of MAM-Rio, in agreement with each of the finalists of PIPA 2014, will choose the works which the museum will receive as donation.

5.5) The winner(s) of PIPA 2014 and of PIPA Popular Vote Exhibition 2014, shall donate furthermore, a second artwork for the IIP, as well as transfer or assign any pecuniary rights relating to the donated works, such as reproduction, transmission and exhibition for IIP.

5.5.1) IIP Board, in agreement with the winners of PIPA 2014 and of PIPA Popular Vote Exhibition 2014, will choose the artworks to be donated, by the winners, to IIP.

5.5.2) MAM-Rio has the preference over IIP regarding the choice of works to be donated.

5.6) The winners of  PIPA Online 2014 and PIPA Popular Vote Online 2014, shall donate an artwork of their own for IIP, chosen by IIP Board in agreement with the artists, as well as transfer or assign any pecuniary rights relating to the donated works, such as reproduction, transmission and exhibition.

5.7) As the donations from IIP to the Finalists and Winners, the donations from the artists to MAM-Rio and to IIP are also cumulatives.

5.8) The participants of PIPA, including the winners, assume full and sole responsibility in respect of all and any claims by third parties who were disadvantaged by their participation.

5.9) The participants of PIPA, including the winners, allow the use of their names, pictures and voice, free of charge in all PIPA’s publishing.

6- General

6.1) IIP and MAM-Rio are exempt, with the express agreement of the participants, from any liability in case of technical problems which may, temporarily or permanently, modify or prevent the disclosure of any content of PIPA.

6.2) PIPA is purely cultural in character, not involving any kind of chance or connection with the purchase of products or services and therefore not dependent on any official agency authorization, pursuant to Law 5.768/71 and other applicable legal provisions.

6.3) IIP and MAM-Rio reserve the right, at its own discretion, to change the terms of this Regulation, informing participants in advance, by notices on PIPA website, always bound by legal principles and respect for the participants.

6.4) The selection and judging criteria are set directly by PIPA Board and the Award Jury, whose decisions are final and sovereign and there will no possible revisions.

6.5) Loss of entitlement to the prize will occur if the winner is unable to receive it. In this case the right to the prize will be transferred to the participant ranked in the subsequent position.

6.6) Any question, dispute or situation not covered by this Regulation shall be assessed and decided by PIPA Board, whose decision is sovereign and unappealable.

6.7) Participation in the PIPA implies full agreement with this Regulation.

6.8) This is a free translation from the Regulation in its official version in Portuguese.

7- Timetable

7.1 The PIPA 2014 will have the following schedule:

● 24 to 28 March – Announcement of the Nominated Artists
● 06 June – Announcement of PIPA’s finalists
● 20 July – First round of PIPA Online begins
● 27 July – End of PIPA Online first round
● 03 August – Second round of PIPA Online begins
● 10 August – End of PIPA Online second round
● 06 September – Opening of the PIPA exhibition at MAM-Rio
● 22 October – Announcement of the members of the Award Jury
● 02 November – End of the vote of PIPA Popular Vote Exhibition
● 05 November – Announcement of the winner(s) of PIPA and PIPA Popular Vote Exhibition
● 16 November – End of the PIPA 2014 exhibition at MAM

7.2) Although great efforts are made by IIP and MAM-Rio always looking for compliance to this schedule, given the large number of participants and matters involved, it is not possible to guarantee compliance.

8- Communication

8.1 PIPA’s main vehicle of communication is through its own site ( and )

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PIPA respects the freedom of expression and warns that some images of works published on this site may be considered inappropriate for those under 18 years of age Copyright © Instituto PIPA