Source: HUB-IN Business, Finance and Governance Models Guide
This page and the supporting links will help you understand the many different ways of gathering money and resources for a project. Including ways that mix multiple inputs from a range of stakeholders – public, private, and community.
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 encourage different stakeholders to contribute money and resources to inclusive projects.
Collaborative approaches to funding and resources
The public sector (government, councils, etc) have a big role to play in inclusive innovation. Both strategically through setting policy, but also in the way that grants and budget are spent.
But often there is not enough public money to finance all inclusive innovation projects that could have an impact. Or to scale successful initiatives.
So, 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 contribute. Or there may be some inclusive innovation projects which generate income. In those cases, community and private stakeholders could be encouraged to fund the project without the need for public money.
Public, Private, Community
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. It shows 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 suited and found in small scale projects with high levels of community support. Or experimental community projects that require a proof of concept to work out if a new approach is possible. Public and community mixed funding may also be initially used to grow a project up to a certain scale, which is then more financially viable for other other types of finance or business model.
Whereas a mix of ‘private and community’ usually occurs where there is an existing need with a clear vision and financial model, and where valuable assets and/or profits are involved.
For some larger projects there are examples where a ‘public, private, community’ mix has been adopted. This involves all three stakeholders contributing. The Finance and Governance Models Guide details the conditions that suit each of the different funding approaches, and provides real life case studies for all types.
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:
- Matched funding
- Sponsorship
- In kind and pro bono
- 0% loans (soft loans)
- Crowdfunding
- Profit sharing
- Community banks
- Favourable lease agreements
- Impact bonds
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.
Example: 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”
Example: 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.”
Further source reading
We have written about one of the tools, the entrepreneurial ecosystem quick scan tool in this Inclusive Innovation Guide.
Stories from 8 HUB-IN cities
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.
Using the Entrepreneurial quick scan tool will help you:
- make use of existing strong relationships, and spot gaps where you need to make new relationships
- identify existing strengths of the entrepreneurial ecosystem, and what you can do to improve things
- find out how open people will be to getting involved with your HUB, and how they might want to work with you
- understand the role of 3 possible approaches to regeneration initiatives: public, entrepreneurial and community
Entrepreneurial ecosystem quick scan tool
There are essentially 2 parts to the tool.
The first part is a template in the shape of a circle which includes a range of stakeholders and resources that you could engage:
- heritage
- physical and digital infrastructure
- marketplace demand
- support organisations
- human resources
- knowledge
- leadership
- finance
- formal institutions
- urban culture
- entrepreneurial culture
- Networks
The second part is a set of Ecosystem Elements cards that include instructions for what to do in relation to each of the stakeholders and resources, as well as successful examples from various places.
For example, as regards “heritage” – the card suggests you find ways of connecting the old with the new. And it provides a mini case study of how one local resource was re-activated:
“The city of Tibro (Sweden) can draw on a long tradition of furniture and interior design. With the initiative Inredia, a former textile factory has been repurposed as a vibrant knowledge hub for innovative furniture and interior design. It provides this traditional industry with a new future.”
Or for “urban culture”, how traditional and new traders were brought together:
“SkULL is aimed at reviving the Old Bazaar in Skopje (North Macedonia) as the beathing heart of the historic town. Part of the project has focused on supporting traditional crafts still practiced in the market and introducing new ones emerging from the contemporary creative industries”
To get started, go to the Entrepreneurial Ecosystems quick scan toolkit page, download the toolkit, and look through the template and the cards.
There is also a supporting detailed report on how to connect, engage, and activate heritage and new communities:
HUB-IN Entrepreneurial-Ecosystems-in-HUA report.pdf
Further source reading
Source: Five steps to get your fab city started with the cartography toolkit – Centrinno Cartography toolkit
Mapping an ecosystem and resources as a whole is similar to stakeholder mapping, and includes a wider range of inputs, and creates a more detailed picture and more wholistic understanding of a place.
The Centrinno Cartography toolkit provides a structured introduction to how you might map a local innovation ecosystem to support you to understand resources, ecologies, and communities. And this will then help you identify potential resources and sources of investment that you had not previously thought of.
The Centrinno toolkit was designed to create circular value chains. And it supports inclusive thinking, while innovation and entrepreneurial communities are two of the community types it talks about.
The Centrinno Cartography toolkit has 5 steps
- Understand your urban ecosystem
- Become a context detective
- Map your (future) circular community
- Inventory resources in your community
- Weave connections
The toolkit helps you to get to know your place from two angles:
- By mapping local context from a bird’s-eye view
- Diving deep into the network of local stakeholders and
In the toolkit you will find information on each step, as well as links to: many helpful downloads, online Miro board templates, and case studies for each step.
Some key things to consider when mapping
- Start broad. Don’t just think of people. Also think about the natural ecosystem, physical assets, and other things like networks and digital.
- The toolkit considers 8 themes: Materials, Water, Biodiversity, Climate, Culture, Economic Inclusion, Society, Health and Wellbeing
- When you add things together, think about what kinds of connected communities exist or could exist
Source
The methods and case studies under the theme of Funding and Resources will help you:
- understand and gather the things you need to innovate in an inclusive way
- invest money and time wisely
Resources
Resources are the things you need to make something happen, like money, people, tools, and even ideas.
Let’s say you want to build a wooden treehouse. You’d need things like:
- Plans (ideas)
- Wood (materials)
- Hammer (tools)
- Friends to help (people)
Similarly, we need resources to make innovation work and change happen. This includes:
- People and skills – trained workers, teachers, or community leaders who can share knowledge and drive projects forward
- Technology – tools like computers, renewable energy systems, or apps that help track and improve sustainability efforts
- Technical resources – machines, equipment, or infrastructure like irrigation systems
- Natural resources – healthy soil, clean water, and forests that can be regenerated and protected
- Financial resources – money to pay for all of the above
Some communities don’t have enough resources, so it’s important to share and make sure everyone has what they need to take part in innovation.
For example, underserved communities often lack access to basic infrastructure like the internet or the right education, which are critical for innovation.
Funding and investment
Investment is like planting a seed to grow a tree. You use money, time, or effort now so that something bigger and better can grow in the future.
For example, if you want to help a community that doesn’t have good internet access, you might invest in building new towers or buying computers for them. This helps them learn, work, and create new things.
Investment isn’t just about money. It’s also about making sure the right resources go to the right places, especially to communities that need them most.
By investing in these areas, we can help more people have the tools and opportunities to innovate and grow.
Organizations like the United Nations and the World Bank emphasize the importance of targeted investments in marginalized communities to reduce inequalities and promote inclusive growth.
Investment is about using these resources wisely to create long-term benefits. Types of investment include:
- Time and effort – volunteering or training people to learn new skills, like sustainable farming or eco-friendly construction
- Infrastructure investment – building things like clean water systems, green energy grids, or accessible schools in underserved areas
- Ecological investment – restoring damaged ecosystems, planting trees, or protecting wildlife habitats to ensure a healthier planet for future generations
- Financial investment – putting money into projects to enable all of the above
By combining resources and investments, we can create systems that not only grow and thrive but also heal the planet and benefit everyone, especially those who need it most.
