Arts Business Innovation Fund (ABIF)
The Arts Business Innovation Fund (ABIF, the Fund) addresses the need to support innovation to strengthen income generating and entrepreneurial capacity in not-for-profit arts and cultural businesses.
The Fund is an initiative of the Queensland Government, through Arts Queensland (AQ) and the Tim Fairfax Family Foundation (TFFF), developed in partnership with a consortium of three organisations.
- Foresters Group (Foresters)
- Positive Solutions
- QUT Creative Enterprise Australia
ABIF provides a $1 million investment for not-for-profit arts and cultural organisations. Both the Queensland Government and TFFF have contributed $500,000 to the fund.
- Strengthen not-for-profit arts businesses financially and operationally by responding to innovative business ideas that will achieve an organisation's mission into the future.
For arts organisations, outcomes will include:
- new and more resilient business models
- diversification of income streams
- access to new markets
- access to new finance and funding streams
- better capitalisation.
For government and Queensland, outcomes will include:
- a pool of funds that can be re-invested
- increased value and return on government investment.
The fund is a $1 million investment, distributed as matched funding through equal combination of grants and zero interest loans. This will be distributed as matched funding in the following ratios:
- 1:1 funding for organisations with an annual turnover of $1.5 million or less ($1 of ABIF investment – grant and loan – to be matched by $1 of additional funding sourced by the applicant)
- 1:2 funding for organisations with an annual turnover of over $1.5 million, ($1 of ABIF investment – grant and loan – to be matched by $2 of additional funding sourced by the applicant).
ABIF is a rolling fund, with applications accepted at any time.
How to apply
- Read the Arts Business Innovation Fund documents
- Submit a Pre-qualification form online.
- Once Pre-Qualification has been confirmed by AQ, you can submit a full proposal online.
To promote collaboration, entrepreneurship and future thinking in Queensland’s arts sector, Arts Queensland has developed Arts Acumen, a suite of resources, information and opportunities to foster knowledge growth, connections and access to industry intelligence. Visit www.arts.qld.gov.au and follow the prompts for Arts Acumen.
For tips in preparing competitive applications or how to apply online, view help in applying.
Contact an Arts Development Officer on (07) 3034 4016, 1800 175 531 (toll free), or firstname.lastname@example.org.