A shortlist of 23 artists living or working in East London are competing in an exhibition being staged in an old rum factory near the Tower of London waiting to see who gets a £10,000 prize and their own show.

The 2015 East London Painting Prize now in its second year, created by the Legacy List, shortly to become the Foundation for Future London, and Bow Arts Trust charity, highlights talent and diversity of artists in the five Olympic boroughs.

Six from the East End itself and 10 from neighbouring Shoreditch and Hackney dominate the shortlist.

The exhibition is being staged at the new Rum Factory gallery in the converted London Docks Pennington Street Warehouse in Wapping, where the Painting Prize winner is being chosen next Wednesday, May 13, to get £10,000 and a solo exhibition in Bow’s Nunnery Gallery later in the year.

Tower Hamlets artists shortlisted are: Hannah Brown, Cyrus Shroff, Caroline Walker, Willem Weismann, Emily Wolfe and Vivien Zhang.

Hackney shortlist: Michael Ajerman, Steven Allan, David Caines, Anna Freeman Bentley, Andrew Hladky, Kate Lyddon, Cathy Lomax, Lee Maelzer, Judith Rooze and Mimei Thompson.

Newham: Peter Donaldson and Marie Jacotey-Voyatzis.

Waltham Forest: Benjamin Doherty, Katrin Maeurich, David White and Josephine Wood.

Redbridge: Luke Rudolf.

The judging panel includes painter Phoebe Unwin, Art Review editor Oliver Basciano, Zabludowicz Collection director Elizabeth Neilson and Launchpad founder Sarah Elson. The Rum Factory gallery opened in March after a deal by Bow Arts Trust with London Dock developers St George City.