The prize-giving ceremony of the third "Guggenheim Enterprise & Culture Award" for enterprises that chose culture as a means of corporate communication, overcoming the traditional practice of occasional sponsorship and favouring a strategy that can produce benefits both for the company and the community, was held at the Scuola Grande di San Giovanni Evangelista, Venice, on Friday, 12 November 1999.
The Award is promoted by the Guggenheim Foundation together with ABI, Confindustria, INA, Philip Morris, Regione Veneto, and Il Sole 24 Ore.

Candidate projects (67 in all, 16 of which were finalists) were assessed according to their compliance to the requisites of the award: in other words, innovative character of the cultural action, quality and creativity of communication, ability of the enterprise to build cultural pathways in line with the company's mission and with the strategic positioning plan of its trade mark.

Targetti won the award in the "most effectively communicated project" category thanks to the Targetti Art Light Collection, the collection of contemporary art designed and funded by the company.

"I was extremely satisfied to learn that we have won because of the award is a great honour " - stated Paolo Targetti, Chairman of Targetti Sankey SPA. "My firm is proud to have contributed once more to the spreading of the culture of light, which is also promoted by initiatives such as the Targetti Art Light Collection. This shows that technical excellence is the ideal assumption to underline the artistic character and expressive potential of light."