Business for the Arts invests in province’s cultural economy
Business for the Arts, Canada’s only national charitable organization with a mandate to strengthen the arts and culture sectors across Canada by building partnerships between the private and cultural sectors, announced today that its artsVest program expands coast to coast, launching province-wide in PEI. With funding support from the Government of Prince Edward Island and the Government of Canada, $206,000 will be invested into the province over the next two years.
artsVest is Business for the Arts’ national flagship program that works directly with small to mid-sized arts organizations looking to procure sponsorships and build sustainable partnerships with the business community. The program consists of in-depth training in corporate sponsorship, from one-on-one, group and peer-to-peer learning to online educational tools and mentorship pairing. The participants successful in securing sponsorships are awarded with matching funds at the end of the program, up to a certain dollar amount.
“Business for the Arts is thrilled to be launching the artsVest program in Prince Edward Island,” says Aida Aydinyan, Vice President of Business for the Arts. "When we talk about successful business-to-arts partnerships, we say it should be a win-win-win, in other words, win for the arts organization, win for a partnering business and win for the public at large. This definition of a successful partnership we believe is equally applicable to the artsVest program. It is a triple win program for all three sectors involved: cultural, private and public. It provides comprehensive capacity building, helps to diversify revenues, creates cross-sectoral partnerships and raises the profile of the arts. Thanks to the tremendous support of the Government of Prince Edward Island and the Government of Canada, we look forward to working with some passionate arts organizations in the province.”
"The cultural economy is thriving in Prince Edward Island. Support to help the arts community build capacity through sponsorships and partnerships goes a long way in our province," said Education, Early Learning and Culture Minister Doug Currie. "This investment will benefit artists, our economy, and Islanders who appreciate our rich arts culture."
“Our arts and cultural communities have a tremendous impact not only on the social fabric of the Island, but on the provincial economy as well,” said Economic Development and Tourism Minister Heath MacDonald. “Creative industries contribute approximately $120 million to the provincial GDP and employ over 2000 Islanders. It is crucial that we make appropriate investments to ensure these industries continue to thrive and to tell our story to the world.”
To participate in artsVest PEI, please attend our information session and sponsorship workshops on April 24 (Charlottetown) and April 25 (Summerside). To register and see more details, visit artsVest PEI.
In 2016, artsVest facilitated over 650 training and mentorship opportunities for artsVest participants, resulting in the delivery of 749 hours of live session programming.
The program proudly boasts over 40 expert mentors across Canada, all seasoned professionals from the non-profit or corporate sector with experience in corporate sponsorship.
artsVest also operates in Alberta, Saskatchewan, Ontario, Toronto, Nova Scotia, New Brunswick and British Columbia.
969 participating artsVest organizations have formed 3,376 partnerships with businesses, of which 2,286 are first-time business partnerships and 2,002 are long-term; these partnerships have generated $13.92M in new private sector investment from $5.61M in matching funds to date, and has resulted in an influx of $19.53M to the cultural sector.
For more information visit, Business for the Arts.
artsVest National Program Director
416-869-3016 x 225
Senior Communications Officer
Education, Early Learning and Culture