Over a three-year cycle, the Siminovitch Prize celebrates a professional mid-career director, playwright, or designer whose work is transformative and influential. The Prize also recognizes the importance of mentorship to support emerging talent: the Laureate receives $75,000 and selects a Protégé who receives $25,000. In 2021, the Siminovitch Protégé Prize is presented by the RBC Foundation.

The Siminovitch Prize is life changing for the Laureates and their Protégés who are given the public recognition and financial resources needed to take greater creative risks. At the same time, the prestige of the Prize contributes to elevating Canadian theatre by creating exposure and legitimacy. The innovation we see on stages across Canada today is due in part, to the investment of the Siminovitch Prize for the past two decades.