NYFA Launches New Arts Business Incubator Program
The New York Foundation for the Arts (NYFA) is proud to announce the creation of a new program designed to promote the establishment of new businesses either launched by artists or serving the artistic community. The Arts Business Incubator (ABI) will provide entrepreneurial training, consulting services and a variety of other resources over a three-year period to 6 – 10 new or start-up businesses. The program is funded with a multi-year grant from The Scherman Foundation’s Katharine S. and Axel G. Rosin Fund.
The ABI, which begins with a week-long business intensive, will have a rigorous 3-part application process. The initial stage is a 2-3 page letter of inquiry which will be due on January 16, 2015; semi-finalists will then be asked to submit a more detailed business plan, along with other documents and a select group of finalists will be interviewed by a team of the professional consultants working on the program. From this, 6 – 10 participants will be selected. Applicants must have an arts-related business in the “start-up” phase of the enterprise (either brand new or within the first 18 months of operation). The businesses may be for-profit or non-profit and must be based in New York City. For complete details and application instructions, visit www.nyfa.org.
Once selected, the participants will work over a three year period with experts in a variety of fields including finance, legal, marketing, public relations and real estate, to help them successfully plan and launch their businesses.
“We are excited to be launching this program and grateful to The Scherman Foundation’s Katharine S. and Axel G. Rosin Fund for its visionary and generous support,” said NYFA Executive Director Michael L. Royce. “The arts are one of the most vital and important sectors of the New York City economy, so to have the opportunity to provide new businesses with the support they need to become sustainable enterprises, further expands NYFA’s mission to empower artists and provide entrepreneurial training which supports the entire cultural infrastructure of the City.“
ABOUT NYFA
The New York Foundation for the Arts (NYFA) was founded in 1971 with the mission to empower artists at critical stages in their creative lives. We do this by: awarding cash grants to individual artists in all disciplines and small and mid-size organizations; providing training to artists to help them take their careers to the next level; giving artists access to myriad online resources through our website (www.nyfa.org), and providing fiscal sponsorship to over 800 artists and emerging organizations, allowing them to raise nearly $4 million annually.
For further information on Arts Business Incubator (ABI) at New York Foundation for the Arts, as well as its additional resources and services, please visit www.nyfa.org.
For inquiries: Contact Mark Rossier, 212-366-6900 x. 211 or mrossier@nyfa.org