What do I mean by 'Saatchi as an Institution'?

Following the definitions of the word 'Institution' from dictionary.com (below) it is easier to explain my meaning.

Definition no.1
Saatchi has established a sort of foundation devoted to the promotion of a particular cause, esp. public and educational - that of the growth and popularization of conceptual art.

Definition no.2
He has also devoted a building and a website (which feels a bit more like an online world) to this.

Definition no.6
Saatchi is definitely an 'established person' whose name is associated with the patronage and promotion of conceptual art. He is seen as the catalyst for the sudden explosion of leading conceptual artists such as Sarah Lucas, Tracey Emin, the Chapman brothers, Damien Hirst etc. and all who followed on a similar path.

What is an Institution?

1.	an organization, establishment, foundation, society, or the like, devoted to the promotion of a particular cause or program, esp. one of a public, educational, or charitable character: This college is the best institution of its kind.

2.	the building devoted to such work.

3.	a public or private place for the care or confinement of inmates, esp. mental patients or other disabled or handicapped persons.

4.	Sociology. a well-established and structured pattern of behavior or of relationships that is accepted as a fundamental part of a culture, as marriage: the institution of the family.

5.	any established law, custom, etc.

6.	any familiar, long-established person, thing, or practice; fixture.

7.	the act of instituting or setting up; establishment: the institution of laws.

8.	Ecclesiastical. a. the origination of the Eucharist, and enactment of its observance, by Christ. b. the investment of a member of the clergy with a spiritual charge. *Taken from Dictionary.com Unabridged (v 1.1) Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006.

Saatchi

He certainly wouldn't be the first business man to not only get in involved in the art scene, but to change it forever. Patronage like his opens up the door for a world of art which might only be able to survive given the attention and funding he brings to it. Saatchi has become not only a medium under which conceptual art thrives, he can also be viewed as high emperor of the art world - dictating like the moon does the tides of the sea. It would appear he has the Midas touch, even though he's found many enemies along the way.
His recent attention on Chinese art has led the entire world to look east, and who knows what might come of it?
His website has opened up possibilities for many young artists to gain recognition, even though artists have been exhibiting their works online since the internet became readily available, the tendency is to look no further than what's under the Saatchi name. It's truly awe-inspiring to see the sheer numbers of artists buzzing around under him and all he stands for, hoping to be noticed by him or someone like him and flung head first into the limelight.