Raising Investment Funds for an Art Project

When it comes to raising capital for an art project, you will find opportunities almost impossible to come by. Now, don't get me wrong, communities value the arts. It ads to the vibrancy of the town and attracts people and increases business. I remember working a college internship at the Museum of Glass in Tacoma and the President of a local university and a world famous glass artist, Dale Chihuly, made a proposal to a city council to build the art museum and the city was willing to give them all the money they needed, but it took two huge names, millions of dollars, and nearly a decade to complete the project.

Now if you are a student or unknown starving artist, there are a number of grants that you can apply for that fund the arts. Matthew Lesko's popular book is actually an excellent source. You will just have to master the art of grant writing which could be another article and profession in itself. However, it could be an exercise in facility. There are a number of other less direct routes that might bring you more success.

If I were an unknown artist looking to fund a project, I would first set up a professional looking portfolio, publish articles about my artwork in free article directories, and maybe include self made videos of me working on my art, than I would send them to as many art galleries as possible. I would start with small galleries, libraries, and community college exhibits.

When talking to other art gallery owners when I was doing my public relations internship at the museum, I heard them say it's best to have a liaison to deliver the goods if you're trying to get into an art galley; it makes you look more sophisticated. An artist should have better things to do than deliveries. Enlist the help of a friend with a professional appearance and demeanor to approach the gallery owner as your public relations representative. You'll have a better chance this way.

Also, you can try and get photographs of your art published for free. At the college I attended there was a widely circulated publication that printed photos of student's art work, or you could contact a local newspaper and pitch a potential feature story idea about an aspiring artist seeking funding and what one has to go through to do it. It could get you the publicity you need to interest an investor or anonymous rich person looking for a pet project.

If you are really serious about a career in art, you may want to consider the fact that according to what I have read about venture capitalists, they can spend $100,000 like it's nothing, but they would have a hard time investing in an art project unless it's also a smart business venture. Dale Chihuly, whose work inspired the world famous Museum of Glass in Tacoma, became famous not just for his talent but his savvy marketing ability. Start to see yourself more as a business person; go to Entrepreneur.com and read about how to win venture capital and look into getting funds for an art gallery instead of a project. Envision how you want it to look; have a clear image in your mind and be specific about the unique types of art you plan to put in it. Remember, all you need is a really good plan or idea - a dream, that's what venture capitalists gamble on.

Professional investors recognize art galleries as profitable and non-profit venture capitalists recognize art as an integral part of a vibrant community, but an individual or small group project is a whole different thing. If you can get capital for an art gallery, you will probably end up with some extra funds for your project and you can sell it or show it in your own gallery to make money through that gallery to fund more of your own projects. Eventually, you could turn around and sell the gallery for more money. Bottom line, you'll just have a better chance of getting funds if it's a business.

If all else fails, there are artists who start out at bazaars, local fairs even as street vendors. Bestselling author Tom Clancy published his own books and sold them out of the trunk of his car starting out. You could set up a website with examples of your work, describe your situation, education, show pictures of your work and your plan, and set up a paypal.com donation button for funds. On the local news I have heard how people have done this and gotten over $10,000 setting up websites just saying they needed money.

You could offer shares in the project to anyone willing to invest. If you have a lot of examples of art you've already done, start selling your wares on Ebay. As an artist, you will need to get creative, unless you're a student whom a famous artist fancies as a protege.

A few websites you may want to explore to apply for capital are:

http://www.cranbrookart.edu/library/research/grants.htm which is a library of artistic grants around the world, including grants for college students.

http://www.membersproject.com/category/browse/9 which is a place to find donations if you can come up with an interesting and creative enough idea and propose it well.

Also, Angel investors are always a good source. They are mainly made up of affluent people who have way too much money and are looking to give back or find pet projects. Do a Google search for angel investors and go to Ehow.com and inquire about how to come in contact with one. Just be careful, there are a great deal of scam artists promising free grant money from angel investors and the government if you buy their CD or ebook that has the secrets that only they know to get free money. Don't ever pay for information you can get for free or at the local library.

Sources -
entrepreneur.com
PPS.org