AICF'S flagship project is the Sharett Scholarships Program for gifted young Israeli artists in all fields of the arts. Among past scholarship beneficiaries are: Itzhak Perlman, Pinchas Zuckerman, Guy Braunstein, Gil Shaham, Misha Mayski, Yefim Bronfman, Eytan Fox, Dover Kosashvili,Oded Kotler,Itai Tiran,Menashe Kadishman, Sigalit Landau, Michal Rovner, Ohad Naharin and Rami Be’er.

Some of the artists were supported by us when they were as young as eight years old, and given the assistance they needed to study their craft and develop into great artists.  Many came from families for whom career advancement would have only been a dream if it were not for our help. Since the establishment of the program in 1955, AICF awarded more than 14,000 scholarships. We also provide some study and travel scholarships to students, which study abroad.

Scholarships are awarded based on an audition process with an independent panel of judges consisting of the top academics and professionals from Israel and abroad in each area of study, which most of them benefited in the past from the program’s assistance. Every applicant is granted an audition and the program awards scholarships to the most outstanding students. On top of the scholarship, the program provides training, couching, feedbacks, master classes and guidance for the young talents who passed our auditions, assisting them to prepare for a distinguished professional career in their own artistic sphere, and thereby ensuring that Israel’s varied cultural activity continues to be of the highest standard. As part of the program, we also support an Instrument Bank project of purchasing and insuring instruments, which we eventually loan to outstanding young musicians. In the past we also provided grants and loans to those in need, for buying the instruments.  The Jerusalem Music Center collaborates with AICF in a number of projects for the welfare of AICF's scholarships recipients.