London Design Festival in funding talks
The London Design Festival is in discussions with the London Development Agency over the future of its funding.
This year’s festival, which takes place in September, will be the last year that LDA funding – which totals £300 000 each year – is guaranteed under the current contract.
In a statement, the LDF confirms that ‘the current funding support by the LDA runs to March 2010’. It adds that ‘additional income is derived through sponsorship and from other organisations’. The LDA says, ‘No decisions have been made by the LDA regarding future investment in the LDF.
The LDA’s future investments will be based on an organisation’s ability to deliver the best possible benefits to Londoners and to ensure value for money.’
An audit of the LDF, carried out by management consultancy Strategem in 2007, said funding would be provided up to and including the 2009 event. The review looked at cost-effectiveness and how commercially viable it was for the LDA to support the festival.
At the time, Strategem said the LDF needed to ‘establish better working relationships and communications with stakeholders and partners’, and that the LDA and the LDF had to improve ‘the levels of communication’ between them.
The report further suggested concern over exemption from audit of LDF accounts, a practice which, it stated, ‘is not the norm for organisations with high levels of public funding’.
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LDF is only measured on how many ‘London’ based businesses attend or benefit due to the funding being from London Development Agency.
The 1000’s participating from the UK regions and the high level participation international visitors is not counted in the same way.
The Design Embassy supported by UKTI nad managed by British Design Innovation that match-makes significant overseas buyers to UK commercial design firms during LDF – delivered over £1million in fee income to UK design firms within 8 weeks of the end of the 2008 Festival.
That is just one activity and a great result for UK plc and the Design Industry – PR values and the 100’s of other contracts placed throughout the Festival may or may not be factored in.
£300,000 is a drop in the ocean against the amount of public funds spent on creative industries consultations (they run into millions) – at least the LDF activity leads to tangible deals for the UK design industry across the disciplines.
£300,000 – well spent and excellent value for money.