News – Boost for Scottish sponsorship
£700,000 has been earmarked by the Scottish Executive to establish a match funding business sponsorship scheme. The New Arts Sponsorship Awards, which will be funded through the Scottish Arts Council and administered by Arts & Business Scotland, is a new two-year scheme to encourage first time investors in the arts. The scheme will offer funding to double the investment from new sponsors ranging from £1,000, in cash or in kind, to a maximum of £50,000 for each project.
The business sponsors, which need not be based in Scotland, must not have supported Scottish arts organisations in the past three years. Corporate donations, appeal funding and some types of in-kind support are not eligible for the scheme and awards are not guaranteed. Barclay Price, Director of Arts & Business Scotland, said, With around a dozen companies providing almost 80% of the total arts sponsorship in Scotland there is an obvious issue of sustainability facing our arts development professionals. These Awards will provide practical opportunities for businesses to discover the many benefits of arts sponsorship, and at the same time support arts organisations in increasing their revenue.
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