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35 artists have been shortlisted in the biennial 'Mari Funaki Award for Contemporary Jewellery' which recognises excellence in international and Australian contemporary jewellery.

Around 413 entries were submitted from 48 countries.

The award will offer prizes across two categories including an $8000 acquistive prize awarded to an established artist and a $2000 cash injection for an emerging artist.

The winning piece from the established jeweller will also be displayed in the National Gallery of Victoria.

The award was established in 2014 to mark the achievements of Japanese-Australian artist and gallery founder Mari Funaki.

Gallery Funaki director Katie Scott believes the initiative offers a chance for Australian jewellery makers to stand out on a global platform.

‘Mari was passionate about Australian contemporary jewellery being shown at the same high level as European jewellery: we seek to keep Mari’s name and her philosophy alive with this biennial award.

"This gives Australian makers a rare opportunity to show their works among a high profile group of celebrated international artists, fostering relationships between them and their peers worldwide."

Shortlisted finalists include entrants from Australia, New Zealand, Israel, Germany, Ireland, US and South Korea among others.

Winners will be announced by judges Simone LeAmon, Catherine Truman and Kate Rhodes on August 23.

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