Canada’s Walk of Fame is creating a new award for emerging Canadian artists that includes $25,000 in cash and a chance to work with superstar artists and promoters in the same field.

The first award, to be sponsored by Royal Bank, will be presented in 2013.

"Canada's Walk of Fame has established some wonderful relationships with successful Canadians. We now have the opportunity to introduce gifted Canadians to them and give them a chance to work and be mentored by them," Peter Soumalias, founding director of Canada's Walk of Fame, said in a statement released Tuesday.

Mentoring is a significant part of the award, which will seek new talent in the world of music in its first year.

On top of the $25,000 cash offered emerging artists in the first year, there is further support:

• Performance opportunities for the winner such as the chance to perform at major venues for established artists.
• 20 hours of private studio time at Metalworks Studio with an appointed producer, periodically mentored by Rik Emmett and Gil Moore from Triumph.
• 10 hours of studio time in The Tragically Hip’s private studio, mentored by Gord Sinclair.

The first submissions – in the form of a 60-second video or audio file — must be submitted by April 30, 2013. Candidates must be enrolled in an accredited educational institution and have the support of an administrator from their school.