Sir Paul McCartney was among the guests of honor at the prize giving ceremony for the inaugural U.K. Music Producers Guild (MPG) Prize -- a new award given to the most promising graduate from the Liverpool Institute for Performing Arts (LIPA).

The prize was awarded to Henrik Barman Michelsen during LIPA's end of year graduation ceremony on friday. Joining McCartney, who is founder and lead patron of the educational facility, was MPG chairman Steve Levine and MPG director Tony Platt.

In a statement, Tony Platt, who was honored by LIPA last year with a companionship in recognition of his contribution to the world of arts and entertainment, said: "This will be a great opportunity for Henrik and we look forward to mentoring him while he establishes himself in his chosen career."

As part of his prize, Michelsen, who is originally from Norway, will receive mentoring from producers, such as Steve Levine, Tony Platt and Mick Glossop, among others, and spend two weeks as an intern at Kore Studios, London.

The prize also awards him with the opportunity to spend two days working alongside producer Paul Epworth, winner of this year's MPG Producer of the Year and BRIT Producer of the Year awards.