One Spark 2016 will debut a format intended to change the experience for attendees and participants, as well a business plan that will affect what goes on behind the scenes of Jacksonville’s crowdfunding festival.
Scheduled April 7-9, the fourth edition of One Spark will occupy a smaller footprint Downtown, with exhibitors grouped by category in “creator districts.” Categories are arts and culture, education, lifestyle, health and wellness, social good and technology and engineering.
Peter Rummell, One Spark board chairman, said the change will help make the festival easier to navigate and “allow likeminded creators to present in a more conducive environment.”
Those wishing to showcase ideas, products and services will present their projects to a jury of experts, sponsors and investors who will choose up to 50 exhibitors per category to participate in the festival.
Those creators will begin monthlong crowdfunding campaigns March 15 that will allow them to build momentum before the festival begins and capitalize on publicity for nearly a week after the event closes.
The financial side of One Spark also has evolved.
Creator cash awards will be based primarily on attendee financial contributions, a change from the first three years when a prize fund and bonuses based on votes from attendees determined exhibitors’ rewards.
Rummell was the single greatest source of contributions for the $6.1 million that funded the first three festivals.
He provided 58.3 percent of the festival’s revenue: $3 million in cash donations and two loans totaling $500,000 to the organization — a situation described in a news release as an “unsustainable business model.”
One Spark’s board is advocating for a “broader mix of cash sponsorship, local government support including in-kind contributions and widening the overall donor base.”
The board also made the decision that the expense structure must be “right sized” to operate at break-even without the “extraordinary reliance on a single individual.”
One Spark expenses for the first three festivals were $6.1 million, according to a financial recap provided by the organization.
Production expenses for 2013-15 totaled $1.8 million; payroll including taxes and benefits, $1.3 million; cash awards, $900,000; marketing and advertising, $900,000; administrative expenses, such as rent and professional services, $453,000; and technology expenses, $452,000.
One Spark also covered One Spark Berlin’s expenses with $165,000.
Rummell said this morning the most major changes for One Spark 2016 will be operating with a smaller administrative staff and presenting a three-day event instead of a five-day event.
“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.
Staffing a booth and pitching ideas for five days was “a killer experience for the creators,” said Rummell.
On the income side, corporate sponsorship revenue is listed at $1.2 million; local government support, $153,000; crowdfunding campaigns, $153,000; and other donations, $41,000.
Operating revenue for the three festivals was $900,000 comprising food, beverage and merchandise sales and registration fees.
Creator applications will be accepted after Nov. 9 and must be submitted by Jan. 28 to be considered by the jurors. The application fee for One Spark 2016 will be $10. Selected exhibitors will be required to pay a $250 showcase fee to confirm their participation.
Jury selections will be announced Feb. 24.
Rummell said changing the selection process is intended to result in fewer, but higher-quality exhibitors. All the changes for 2016, he said, are based on three years of experience producing the festival.
“Shrinking the number of creators and improving quality is a sign of growth,” he said. “We’re rolling the dice, but I’m comfortable we’re on the right track.”
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