local network funds
Any member of a local music network can submit a proposal for financial support to their local network fund
The key criterion for proposals submitted to a local fund is that they be for projects / work that will create value for their local music ecosystem.
Creating a great proposal submission experience
Having proposals submitted by people wanting to do things that will help optimise the health of a local music ecosystem is what will lead to the health of that local music ecosystem being optimised! So attracting a high level of high quality proposal submissions could not be more important.
People should feel encouraged to submit initially and they should have an experience that makes them want to make future submissions and to tell others to submit.
A key consideration in this regard is to provide support to those less experienced with proposal development. They should know they will get support and that they will leave the process with significantly elevated proposal development skills.
A great delight will be seeing what people come up with.
Some likely examples
Creating music and videos.
Venues and promoters who want to be able to take more risks with programming.
Projects to capture and celebrate music heritage.
Set up and development of music businesses (aka core music ecosystem infrastructure): recording studios, rehearsal spaces, music hubs, teaching, radio stations, venues, retail outlets, instrument manufacture.
Development and implementation of music ecosystem strategies and policies.
Proposals prompted by sharing knowledge and insights
Information designed to inspire proposal submission will be shared with the network:
A database of local network proposals from across the UK
A dashboard that leverages available data to give insight into the state of their local music ecosystem
Sharing research. For example, surveys of music ecosystems that reveal the changes people believe will have the greatest impact
Governance, reviewing and approving proposals, oversight of funded / approved proposals, technology, network leader training and support, network member support, advisory, events and more.
Types of financial agreement
Funding with no contract for financial return. Though any recipients would have agreed to the honour pledge made by all network members.
If a network member is able to attribute part of their financial success to support from the community, then they make a donation / donations to the fund.
Better loan terms and conditions than a member will be able to find anywhere else.
Conditions set which if met trigger an agreed amount of investment from the fund. For example, a small community wishes to set up a music hub at a cost of £10K. It's agreed that if the community can crowdfund £5K, the fund will put in the other £5K.
Funding and / or network support in return for equity, agreed revenues or profit share.