The Raimo Utriainen Art Foundation was established in 1993, to promote the artist´s work and to support young Finnish sculptors.

A permanent home for the Raimo Utriainen collection was found in 2006, when it was placed in the Espoo Museum of Modern Art, EMMA.

Since 2000, the Foundation has given grants to young sculptors. Up until 2008 one to two grants of 7000 euros have been awarded by an expert board, made-up of two established and active members of the sculpture scene. Since 2011 the sum has been 10 000 euros.The board members serve for two years, with one position changing annually.