Seven weeks before the deadline for applications to showcase ideas at One Spark 2016, festival co-founder and CEO Elton Rivas is “quietly optimistic.”
That’s because about 100 exhibitors, dubbed “creators,” have applied for inclusion in the fourth edition of the event, scheduled April 7-9.
Rivas is quantifying his confidence about participation because One Spark’s prize format has undergone a significant change.
Next year, awards will be based solely on crowdfunding — the process through which people contribute funds to the ideas and businesses exhibited.
In the first three years, private donations — primarily from Peter Rummell, chair of One Spark’s board of directors — were used to establish prize and bonus structures.
In 2015, $350,000 was given to exhibitors based on votes cast by attendees.
One Spark says 320,000 people attended last year’s festival and cast 117,000 votes for their favorite projects. Attendees contributed just $93,000 in crowdfunding — about 29 cents per person.
That has to change in 2016.
“We’ll be encouraging the audience to find and fund a project they love,” Rivas said.
Organizers also made the decision to downsize the fourth festival, in terms of how many Downtown blocks will be designated for the event, how many creators will be involved and how long it lasts. The 2016 festival schedule is shortened from five days to three.
One Spark’s staff was cut from 11 to four.
“One of the lessons we’ve learned is that a full-time annual staff for a one-week festival is a luxury we can’t afford,” Rummell said in August when the changes were announced.
Nearly 550 projects were shown at One Spark 2015. Next year, a maximum of 50 exhibitors will be permitted in each of six categories: arts and culture, education, lifestyle, health and wellness, social good and technology and engineering.
Rivas said after the Jan. 29 application deadline, a jury will evaluate the applications and then announce about a month later the top 50 in each category.
“Quality is the goal instead of sheer quantity,” said Rivas.
Festival expenses for the first three years totaled $6.1 million. Revenue included $1.2 million in corporate sponsorship and $41,000 in other donations.
Other revenue was $900,000 comprising sales of beverages, food and merchandise and exhibitor registration fees.
Rivas is spending much of his time pitching One Spark to sponsors.
He said sponsorship is tracking well for 2016 but added, “Any festival would like more sponsors.”
An educational campaign will be launched in January to encourage people to set up an online account they will use to contribute to projects. Rivas said crowdfunding will begin after the exhibitors are announced, but more than a month before the festival.
Organizers will invest the marketing budget to promote the crowdfunding aspect of the festival, Rivas said, “instead of ‘come on down for food and fun.’”
For more information about One Spark 2016, visit onespark.com.
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