Source: HUB-IN toolkit
This page will help you understand how to connect, engage, and activate the various parts of the entrepreneurial ecosystem you have mapped out.
HUB-IN toolkit
Hubs of Innovation and Entrepreneurship for the Transformation of Historic Urban Areas (HUB-IN) is a project to revitalise historic urban areas (HUAs) without destroying their historic character. Introducing or increasing the amount of innovation, in a way that is in tune with the spirit of a place.
The HUB-IN toolkit provides a number of tools, including excellent examples of proven methods and case studies. Below we have selected one specific tool from the toolkit that helps with inspiration for ways to connect, engage, and activate an entrepreneurial ecosystem.
Collaborative approaches to funding and resources
Often there is not enough public money alone to finance inclusive innovation projects. Or to scale successful initiatives.
But where there is shared value between different groups and stakeholders, there may be ways to use public money and council resources to encourage other sources of resources and investment to come forward.
The HUB-IN Business, Finance and Governance Models Guide is a very informative report that details a number of different approaches to pooling resources or funds.
Public, Private, Community
The guide highlights how from the 3 types of funding – public, private, and community – there are 7 possible combinations.
Each of these combinations typically suits different types of projects.
For example, a public and community mix is often found where there are small scale projects, or experimental projects that require foundation stages or proof of concept to be completed, or a certain scale required in order to become financially viable.
Whereas a mix of private and community usually occurs where there is an existing need, a clear vision and financial model, where assets and/or profits are involved. For some larger projects, there are examples where a public, private, community mix has been adopted. The report details conditions that suit each of the 7 combinations, and provides examples for each.
Sources of money
The way in which different groups contribute funding can take many different forms. A range of known ways detailed in the report include:
- Impact bonds
- Matched funding
- Sponsorship
- In kind and pro bono
- 0% loans (soft loans)
- Crowdfunding
- Profit sharing
- Community banks
- Favourable lease agreements
Examples of collaborative funding and resources in action
The HUB-IN Business, Finance and Governance model guide contains over 40 real life examples and the HUB-IN Atlas provides 92 examples from cities across Europe that demonstrate the success of collaborative approaches to funding and resources.
Nod Makerspace
A makerspace, entrepreneurial hub, and public events space
“Community – Initiated by a collaboration of 25 small entrepreneurs who invested time and money.
Wider Community – Crowdfunding is used to engage the wider community and finance new initiatives such as a materials library.
Private – Financial and non-financial contributions are accessed through partnerships with large businesses”
ExRotaPrint
A former industrial complex which fair leases space to manufacturers, creatives, and social groups – that combines protected shared ownership with shared profits
“Community – Tenants have organised bottomed up through a non-profit organisation and a tenant’s association and manage the site themselves.
Foundations – Two foundations, both aimed at preventing speculation with land, have provided resources for the acquisition of the heritage building.
Private – A mortgage from a pension trust that invests primarily in sustainable real estate projects has contributed to renovation activities.”