Frederic Mompou International Award is recognised by professional composers as an initial stimulus and support for those who are beginning the difficult career of composition.  Carme Bravo, the widow of Mompou, is the Honorary President of the competition. 

Every year the instrumental ensemble is different. The 2007 competitions is for piano.
 
The competition is organised with the following criteria:

- Offer a monetary prize that will help a young composer to continue working in a field where an immediate economic return is difficult to achieve. 
- Premiere the winning score in order to introduce the new composer to the public. The awarding of a prize that is not performed in public might be considered rather useless by many composers.
- Publish the score for a wider dissemination among musicians.

Carme Bravo recalls the enthusiasm of Mompou for the activities that encouraged young people, especially Composition Competitions, since it is a thrill for young musicians to hear their work performed, and a help in furthering a future career.