UK Music Network Central Fund
Any member of the UK Music Network can submit proposals for financial support to the Central Fund
The key criterion for proposals submitted to the Central Fund is that they be for projects / work that will create value for every 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 local music ecosystems is what will lead to the health of local music ecosystems 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.
Early stage ventures
Proposals from such ventures are likely to be for funding and network support in order to grow their venture.
For example Tutti offer an Air BnB for creative spaces in London. A proposal could be submitted for financial and network support for rolling out their service in new locations. An agreement might include equity and sharing of bookings data.
Further examples of the types of venture the fund would welcome proposals from:
The Rattle. Music start-up co-working, community and mentorship
Neko Trust. Training the next generation of music industry talent
Pirate. Rehearsal and recording studios and artist community
UV equipment providers. Devices that kill bacteria and viruses
Likely to be seeking funding and network support to develop proof of concept, initial traction / validation.
For example, a startup seeking funding and support to prototype their solution for improving the infrastructure that supports performances in public spaces. An agreement might include equity and sharing of performance and engagement data.
Education / training
Engaged local music networks across the UK will create audiences for education / training courses. Proposals are therefore expected for courses that could be rolled out across all local networks. Courses such as "Business fundamentals for musicians", "Understanding the music industry" or "Using music to improve quality of life for people with dementia". Agreements could include receiving a % of fees for paid courses.
For example, a PhD student studying the outcomes of including live music in social prescription programmes. An agreement might be to cover costs in return for sharing the results of their work with the community.
Companies looking to leverage organisational assets
For example, a drinks company wanting to run a new product promo night at network member venues. An agreement might include all sales from the night going into central and local funds.
UK Music Network products, services and operations
New products and services
A key aim here is to create network owned products and services that help expand the role that music plays in people's lives. Then make those products and services part of the "toolkit" made available to every local music network.
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 and / or network support in return for equity, agreed revenues or profit share.
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.
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.