A Consortium comprising Positive Solutions, Foresters Community Finance and QUT Creative Enterprise Australia (CEA) worked with Arts Queensland to lead the way with a new arts fund that mixes public and private investment. The Arts Business Innovation Fund (ABIF) seeks to assist arts organisations in Queensland in pursuit of innovative business initiatives that present opportunities for long-term sustainability.
ABIF is the first fund of its kind in Australia. This innovative funding package provides a grant and no-interest loan component, while also requiring applicants to match the funding package with their own capital or by securing other sources of support. For arts organisations, it provides an opportunity to explore alternative capital sources to complement others, as well as support for initiatives that would not otherwise be funded.
“We have been working for the last three years to develop a new models, new money framework and philosophy to support alternative investment sources in the arts sector. The partnership with Arts Queensland enables us to boost financial resilience in the arts sector in Queensland to build greater business capability.” Cathy Hunt, Director Positive Solutions
Arts organisations who are wishing to apply, can find out further details here.