The Vilcek Prizes for Creative Promise were established in 2009 as a complement to the Vilcek Prizes, to encourage and support emerging to mid-career immigrant artists and scientists who have demonstrated exceptional achievements early in their careers. As with the Vilcek Prizes, the Creative Promise Prizes are awarded annually in biomedical science and in a rotating category of the arts.

Three winners are selected in each category through an application process juried by panels of experts in each field. The Creative Promise Prizewinners each receive a $50,000 cash award and are honored at an awards ceremony in New York City.