The Morrison Government has today released the guidelines for the $75 million Restart Investment to Sustain and Expand (RISE) Fund to help reactivate the arts and entertainment sector following the impacts of COVID-19.
The new fund, which is part of the Government’s $250 million JobMaker plan for the creative economy, will provide seed funding to eligible arts organisations, companies and promoters to fund new events, activities and productions that require significant capital investment.
Minister for Communications, Cyber Safety and the Arts, the Hon Paul Fletcher MP, said the Government is taking action to support the creative economy and get the sector back doing what it does best.
“The RISE Fund will provide grants of between $75,000 and $2 million to help restart activities such as festivals, concerts, tours and events once it is safe to do so,” Minister Fletcher said.
“The grants will allow the arts sector reactivate, re-imagine and create new cultural experiences, including innovative operating and digital delivery models. This will help keep artists, performers, roadies, front of house staff and all those who work behind the scenes employed.”
“I encourage eligible organisations across Australia to familiarise themselves with the RISE Fund guidelines ahead of applications opening later this month to help bring arts and entertainment back to Australian audiences.”
The Government is also releasing guidelines for the $35 million Arts Sustainability Fund to provide direct financial assistance to support Commonwealth-funded arts and culture organisations facing threats to their viability due to COVID-19.
“The Arts Sustainability Fund will provide targeted support to sector-significant organisations across areas such as theatre, dance, circus, music and other fields which are facing immediate threats to their continuing financial viability,” Minister Fletcher said.
“Australia’s creative and cultural sector is an important component of Australia’s economy, generating $112 billion a year and stimulating activity in adjacent sectors such as tourism and hospitality. Having a strong creative and cultural sector will be important in rebuilding the economy following COVID-19.”
Applications for grants under these two funds will open from 31 August 2020 and applications can be made through until 31 May 2021 (5:00pm AEST). Applications will be assessed on a rolling basis by the Office for the Arts and the Australia Council, with strategic advice from the Creative Economy Taskforce informing final decisions by the Minister.
Funding will be allocated based on a range of criteria as set out in the guidelines, and with the aim of an appropriate balance across art forms, large and small organisations, states and territories and the subsidised and non-subsidised parts of the sector. Successful applications will demonstrate that the funded activity will support Australian jobs.
The $250 million JobMaker plan for the creative economy builds on the support which has been flowing to the sector for months through whole of government measures, including around $100 million per month through JobKeeper and cashflow support, $27 million in targeted support announced in April and annual investment of around $750 million in the creative and cultural sector.
Members of the Creative Economy Taskforce and the $50 million Temporary Interruption Fund (TIF) guidelines are expected to be announced in coming weeks. The terms of the $90 million loan scheme are in advanced development with banks.
