Chapter 3.
Potential Focus Areas

To define the various focus areas where a potential impact investment fund could be directed, we consider three criteria:

  1. Transformative Impact (IMPACT)
  2. Inherent Cultural Value (CULTURE)
  3. Solid Revenue Model (PROFIT)

Criterion 1: Transformative Impact

The first criterion is to determine whether an initiative contributes to accelerating at least one of the four system transitions outlined in the strategic compass of Stichting DOEN. These transitions also guide investments made through DOEN Participaties BV in enterprises or other investment funds.

  1. The transition from a linear to a circular economy. Emphasising an economy focused on restoring natural systems and designing products in such a way that raw materials can be reused.
  2. The transition from increasing inequality to a world where everyone participates and counts. Focusing on vulnerable groups and promoting diversity and inclusion.
  3. The transition to a society that puts the commons first. Emphasising citizen collectives, energy cooperatives and neighbourhood businesses, and initiatives working with alternative ownership models.
  4. The transition to a society where there is room for radical imagination. With a strong focus on “social practice” and imagination as a collective process.

Criterion 2: Inherent Cultural Value

The second criterion for defining the sectors involves the previously described inherent cultural value. This is assessed by examining 1) the cultural commons, 2) the cultural value of an organisation and 3) the artistic strategies employed.

An initiative can be evaluated by how it strengthens and expands the cultural commons, defined as the societal cultural space between the state and the market. It can be assessed by determining the relevance and necessity of an initiative within the cultural and creative context in which it operates, considering factors such as originality, expressive power and craftsmanship. Lastly, artistic strategies can be examined to see how they create new perspectives and novel ways of resonating with audiences on both individual and collective levels.

This criterion can also involve artistic innovation, such as new discoveries in artistic research or initiatives that foster new connections and unconventional collaborations across various disciplines.

Criterion 3: Solid Revenue Model

The third criterion for defining the focus areas for impact investment is the presence of a solid revenue model. This means that an initiative must be capable of generating sustainable and independent income, which is essential for the long-term survival and growth of a venture.

A revenue model may consist of one or multiple income streams, such as margins on product sales or services rendered (e.g. hourly billing), ticket sales for a festival, subscriptions, catering operations, corporate sponsorships, structural donations from patrons or supporter groups. Another commonly used revenue model in the sector involves real estate exploitation.

Potential Focus Areas

We have chosen these three criteria (impact, culture profit) because we believe an impact investment fund targeting the sector should aim to balance financial, social and cultural objectives. A fund focused solely on the societal impact of the sector could overlook its vital inherent cultural value, such as providing space for “imagination”.

Moreover, the cultural value is a crucial differentiating factor between social entrepreneurs and cultural entrepreneurs.

Based on these three criteria, we have defined six potential focus areas in the cultural and creative sector, each with its own characteristics and needs.

  1. New Materials and Crafts
  2. Ethical Fashion
  3. Social Design
  4. Cultural Spaces
  5. Cultural Productions and Expression
  6. The Culture

We will discuss these six focus areas further to clarify the key similarities and differences between the groups, as well as their specific needs for financial and non-financial support.

3.1. New Materials and Crafts

Traditional crafts such as woodworking, ceramics, carpet weaving, spinning and glassblowing are under pressure. Not only in the Netherlands but across Europe, preserving the knowledge and livelihoods of artisans is becoming an increasing challenge. A potential impact fund could focus on enterprises led by artists, designers and architects who are revitalising traditional crafts while simultaneously developing and testing new materials, techniques and technologies, accelerating the transition towards a circular economy.

In the Netherlands, there are numerous examples of designers working at the intersection of traditional craftsmanship, scientific research and new production techniques, focusing on revitalising crafts as a future-proof strategy for both tangible and intangible heritage.

An example is the work of Christien Meindertsma, one of the leading Dutch designers today.45 Since the beginning of her career, she has been committed to sustainable, locally produced design objects, often using flax and wool. She has conducted groundbreaking artistic research on robotic 3D printing with wool, without the use of water. Another example is Eric Klarenbeek, the first designer to develop a 3D printer for living fungi (mycelium). His Mycelium Chair is part of the permanent collection of the Centre Pompidou.46

Pauline van Dongen, a Dutch designer and researcher, specialises in wearable technology.47 She explores the relationships between people and clothing through alternative design practices, including the development of smart textiles. The creative company Zeefier has developed a sustainable alternative to harmful synthetic dyes in the textile industry, based on seaweed pigments.48 NEFFA (New Fashion Factory) has developed an innovative 3D production technology using mycelium to promote sustainability in the fashion and interior design industries.49 Recently, NEFFA secured investment from four investment companies, including DOEN Participaties.50

Another notable project is the Loop Living Cocoon by bio-designer and architect Bob Hendrikx, which is the world’s first living coffin made from mycelium.51 The coffin fully decomposes into nature within 45 days. Loop Biotech recently raised €2 million within two weeks from 1,000 shareholders via a crowd-equity platform. In addition, the textile innovation studio BYBORRE recently secured €16.9 million in a Series B financing round.52 The company provides a platform where designers can create custom textiles from sustainable raw materials, which are then produced on-demand using “digital knitting” technology.

We believe that there is sufficient deal flow in the Netherlands, and especially in Europe, of investable businesses focusing on crafts, new materials and sustainable production processes that accelerate the transition to a circular economy.

Financing Needs

This segment has a strong need for business support and connections with the right people to elevate projects to the next level. Designers often struggle to establish spin-off companies independently from their artistic and design research and their practice. There is a pressing need for strategic commercial partners, connections with larger businesses and marketing experts who can help commercialise circular materials. This support would also allow designers to remain focused on their creative work and experimentation.

Involving commercial team members who understand the sector is crucial, including expertise in intellectual property (IP). Programmes that go beyond standard business model canvas workshops or generic tech-focused incubator and accelerator programmes would be more effective. The sector needs support structures experienced in working with designers, particularly for facilitating joint ventures with major fashion brands, large-scale manufacturing industries, sun protection companies or the construction sector.

A “venture studio approach” could effectively meet the needs of this sector by providing hands-on guidance for building (joint) ventures. Unlike traditional investment models where investors merely provide capital, a venture studio plays a much larger role by actively collaborating with teams to build new companies. Venture studios offer not just funding but also strategic and business guidance, operational support, team-building and access to networks, including talent, technology and market expertise. Such a venture studio model could create a business ecosystem tailored to designers, and impact investors could play a critical role in establishing this type of support infrastructure. Currently, this is lacking in the ecosystem.

This model could help design studios navigate the critical phase between experimental design research, grant-based funding and project-based work, transitioning towards the market. Blended finance, combining innovation grants for R&D with start-up capital in the form of risk-bearing equity (venture capital), would best match the financing needs of this sector. Such a combination of grants with venture capital could also help bridge the gap between innovation grants and venture capital, ensuring continued support for design research while investment and venture-building drive groundbreaking innovations towards the next phase.

3.2. Ethical Fashion

The fashion industry is one of the most polluting industries in the world. Large “fast fashion” brands increasingly present themselves as sustainable, yet the entire system in which they operate remains highly harmful. “Ethical fashion startups”, such as sustainable clothing brands, aim to reduce negative effects, including worker exploitation, environmental pollution and overproduction. A potential impact investment fund could focus on circular enterprises in the fashion industry. Unlike the focus area of new materials and crafts, ethical fashion is more directly connected to entrepreneurs operating in the consumer market, such as clothing brands.

Stichting DOEN has been working for several years towards the transition to a more circular fashion sector and supports innovative companies working with alternative production methods, textile recycling and pioneering consumer brands. Some prominent startups supported by DOEN include WEAR (sneaker cleaning and refurbished sneakers)53, Soft Revolt (3D-printed bras),54 Loop.a Life (knitwear made from recycled wool)55, New Optimist (circular and social fashion)56 and LENA The Fashion Library.57 In 2022, Stichting DOEN issued an open call for ethical fashion entrepreneurs, offering €50,000 grants to help them grow their businesses.

DOEN Participaties has also long invested in ethical fashion startups. One example from its portfolio is MUD Jeans, which introduced a pair of jeans made from 100% recycled denim.58 DOEN Participaties also invested in the textile studio Makers Unite to expand production capacity and provide more companies with circular workwear and merchandise.59 Part of the revenue generated is used to train newcomers to become self-sufficient within the textile industry.

We believe that the ethical fashion sector aligns well with DOEN Participaties’ long-standing experience. As a result, it would likely be easier for DOEN Participaties to build a strong pipeline of investable companies in this space. Furthermore, a new fund could build on this foundation by focusing on the cultural dimension of ethical fashion. Fashion is not just an economic or sustainability issue but also a powerful form of cultural expression deeply intertwined with identities, experiences, lifestyles, stories and community values.

Artistic vision, style, storytelling, imagination and the connection to cultural values within communities are crucial for fashion businesses aiming to inspire lifestyle changes among consumers. Aesthetics and storytelling significantly influence people’s motivation to make sustainable choices. Ethical fashion consumer brands are often successful when deeply embedded in diverse communities and subcultures, allowing them to reflect shared values and ways of life. Ethical fashion, therefore, extends beyond sustainability and supply chains – it is also closely tied to culture, community and imagination.

A compelling example is the young, inclusive Rotterdam-based brand Versatile Forever, one of the winners of the DOEN Textielcall 2022.60 Versatile Forever is a fashion brand based entirely on second-hand textiles, redefining upcycling as a bold Gen Z fashion statement rather than a fringe sustainability effort.61 The brand produces bikinis made from leftover fabric scraps and recently launched a collection made from upcycled football scarves from Feyenoord and other clubs. In Correa Alves’ vibrant and surrealist work, her multicultural environment, diversity and Rotterdam’s culture play a central role.62

The brand demonstrates that the shift from a linear to a circular economy goes beyond upcycling and supply chain transformation – it involves cultural change as well. It shows that fashion is a form of cultural expression tied to ways of life upheld by communities with shared values. A potential cultural impact fund focusing on ethical fashion should not overlook the cultural dimension of fashion as an impact factor.

Financing Needs

For emerging fashion entrepreneurs, securing financing is often a significant challenge. A report by ABN Amro revealed that circular startups face difficulties obtaining funding, especially for scale-ups in the fashion and textile sectors. While grants and loans are available through the RVO (Netherlands Enterprise Agency), the Stimuleringsfonds voor de Creatieve Industrie and various accelerators, they are typically limited to smaller amounts ranging from €5,000 to €20,000. In addition, financing options for scale-ups remain scarce. Banks often consider these fashion ventures too risky and are unfamiliar with their revenue models.

There is a pressing need for access to venture capital for both early-stage and scaling fashion startups. Currently, the available capital is insufficient compared to the funding demands of promising ethical fashion innovators. As a result, limited access to venture capital in the early and mid-stages consistently emerges as a significant barrier preventing ventures from advancing further.

Additionally, there is a strong demand for business mentorship from individuals familiar with the fashion sector, as well as other forms of non-financial support, such as ethical fashion incubator and accelerator programmes. The sector requires grants for R&D, combined with favourable loans and venture capital. Moreover, support is needed to facilitate strategic collaborations between fashion brands and major textile companies, including partnerships for collaborative fashion collections or sneaker collaborations.

An impact investment company focusing on circular fashion could respond to the needs of ethical fashion brands seeking to build equity. Currently, financing for the sector mainly consists of loans and grants, which often do not contribute to equity building or long-term financial sustainability. Loans are, by definition, external capital and, even under favourable conditions, always place repayment pressure on an organisation or entrepreneur. Grants are often project-specific and sometimes explicitly prohibit the building of equity. Investing in equity, on the other hand, could offer a solution for fashion enterprises by increasing their equity capital and contributing to long-term financial health.

3.3. Social Design

In recent decades, there has been increasing attention towards social design. Social design is the field where design and architecture are used to create societal or ecological impact. A potential impact investment fund could focus on this large group of small design studios.

Social design studios often consist of self-employed professionals and small teams of designers and (landscape) architects working on various social challenges. Their work often involves interventions in public spaces, nature, healthcare or issues related to diversity and inclusion. Through their working methods, they contribute to multiple impact dimensions. In the context of Stichting DOEN’s strategic compass, they are particularly relevant because they address the “systemic transition from growing inequality to a world where everyone participates and matters, with a focus on vulnerable groups and diversity and inclusion”.

A notable example of a social design studio supported by Stichting DOEN is the practice of Simon Dogger. 63 Simon Dogger, one of the first blind designers to graduate from the Design Academy Eindhoven, focuses on developing innovative solutions to improve quality of life. One of his projects, The Emotion Whisperer, helps visually impaired individuals perceive body language.64 The system includes glasses with a camera that sends images of conversation partners to an app capable of recognising facial expressions. These expressions are then translated into tactile signals on a wearable device around the arm, with specific vibrations indicating emotions like a smile or surprise. Simon developed a prototype and researched both daily life integration and market potential for the tool.

Another example of a social design studio focused on vulnerable groups is Fysiek Fabriek, a collective of social designers creating customised assistive tools for people with physical disabilities.65 The company connects people with physical challenges, local creative industries and socially engaged organisations to co-create solutions for practical challenges.

Beyond working with vulnerable groups, some design studios focus on interventions in public space and landscapes. These studios often work on community-driven projects, such as redesigning squares, parks and urban or rural areas to enhance liveability and strengthen social cohesion.

For example, Space for Play is a design studio creating climate-adaptive neighbourhood squares and playgrounds using a participatory co-design process involving residents and children.66 The emphasis is not only on the final result but also on the process, ensuring all voices are included in urban development. Another example is Strootman Landschapsarchitecten, focusing on design research and projects ranging from forest, park and garden design to ecological and infrastructure planning.67

These studios often engage communities directly in their design process using participatory design methods, where residents and stakeholders actively contribute and become part of the creative process, allowing for a diverse range of perspectives. Stichting DOEN specifically supports these practices where communities are involved throughout the design process.

Social designers and architects generally rely heavily on private clients and design or architecture competitions to sustain their studios. They often supplement their income with part-time teaching roles at design academies or universities. These professionals frequently function as creative service providers, working on a project basis (hourly billing) and rarely developing standalone products for independent commercial exploitation.

“Impact commissioning” is a growing revenue source for this group. These are projects commissioned by social organisations (NGOs) and local governments such as municipalities and water authorities, where designers contribute to social challenges or spatial transformation projects. However, interviews reveal that such clients often work slowly, have limited budgets and pay irregularly, making them an unstable revenue source.

Financing Needs

The sector requires project financing for design research, proof-of-concept development and bridging the gap to market implementation. Like material designers, social designers are often less interested in scaling a single product and are more focused on strategic collaborations with larger businesses. Given the highly service-oriented nature of this segment, loans and venture capital are generally less suitable. Interviews revealed limited experience and interest among social designers in loans or equity investments.

Social Impact Bonds (SIBs) are a financial instrument where private capital is used to address social challenges. Instead of the traditional model of providing subsidies, a close collaboration is formed on a project basis between service providers, investors and sometimes an intermediary. Clear agreements are made in advance regarding objectives and results that must be achieved for the target group. Private investors bear the financial risk but can also be rewarded for it. An independent party measures whether the set goals have been achieved. If successful, the government or a philanthropic organisation reimburses the investors with a return on investment. If the results fall short, the investors lose their money.

Social Finance NL

Social Impact Bonds (SIBs) – also known as “pay-for-success” models – could be a fitting financing tool for this group alongside grants and public commissions. In an SIB, an impact investor funds a social intervention carried out by a service provider. The government repays the investor only if the programme achieves the pre-defined social outcomes. If the programme succeeds, the investor is repaid with a return on investment. If the outcomes are not met, the investor absorbs the loss.

“I once said, back when I was still working as a designer: We should remove the word ‘commissioner’ from our vocabulary entirely. It creates a false dependency, and you can never break free from it. You’ll never have enough resources to invest yourself.” 

Bart Ahsmann - Click NL

3.4. Cultural Spaces

Cultural spaces such as creative hubs, workshops, music venues, rehearsal rooms, open-air cinemas and cultural incubators are invaluable for fostering new cultural impulses in urban areas. They play a vital role in the redevelopment of spaces, such as former industrial zones, declining rural areas or sites that lay fallow. These initiatives not only promote circularity, urban development and economic growth but also contribute to the broader transition towards a society with more communal and accessible cultural spaces for collective imagination. There is also a significant demand for affordable and accessible studios and workspaces. A potential impact investment fund could directly focus on investing in these shared cultural spaces.

Numerous examples of cultural spaces and creative hubs exist in the Netherlands, such as NYMA Makersplaats, a 150-metre-long building in Nijmegen where craftsmanship, traditional trades, innovation, culture and art intersect.68 In addition to providing studios and workspaces of various sizes, NYMA Makersplaats hosts courses and events to strengthen the creative production industry. Another example is Brutus, initiated by Joep van Lieshout in Rotterdam, where 10,000 square metres in the M4H area of Rotterdam-West are being transformed into residences, art galleries, studios, an open-air cinema, a club, hospitality venues, a sculpture garden and a public art labyrinth.69

Stichting DOEN has long focused on cultural spaces contributing to the transition towards a society where the “commons” take centre stage. DOEN prioritises initiatives that adopt alternative ownership models. For example, DOEN supports Amsterdam Alternative, a collaboration between various cultural venues in Amsterdam where music, film, dance, theatre and other art forms are presented, while also serving as spaces for living and working.70 Currently, 34 venues are part of Amsterdam Alternative. In 2019, the collective launched the Vrij Beton project to advocate for permanent free spaces in the city and resist urban gentrification caused by commercial property developments.71 One of the venues within this network is the cultural hub OT301.72

Another example combining affordable housing with artist studios is Bajesdorp.73 This four-storey building was founded by residents opposing property vacancy and advocating for a livable neighbourhood. It has since become a sustainable cultural space, hosting around 20 homes and artist studios. Financing was achieved through community bonds, where bondholders from the local community receive a 2% annual return on their investment, with full repayment within 10 years. A total of 2,467 bonds were sold to realise this cultural hub.

Financing Needs

From our interviews with the sector, a recurring interest emerged in collaborating with impact investors to acquire cultural properties and land, placing them under collective ownership by the cultural community.

Impact investors could, for instance, invest in properties and transfer them into a steward-owned foundation, ensuring that the community collectively owns the building. Collective ownership could take the form of a cooperative or an association where members co-own the building. All members would then rent from the association – and indirectly from themselves. The investor would generate returns through rental income.

This model not only helps preserve cultural spaces as shared, accessible areas but also prevents speculative development while promoting sustainable urban growth where the community is prioritised. Impact investors could play a critical role in driving the transition towards a circular, creative and inclusive society where collective ownership and local decision-making become standard. Models such as “community land trusts” could serve as inspiration for such structures.

A community land trust (CLT) involves residents, users, entrepreneurs, local neighbours and local governments in the ownership and decision-making process concerning land. Together, they form a community of people who collaboratively develop, live, share and manage facilities. The land is removed from the market and placed under shared community ownership, preventing property prices from being influenced by rising land costs and ensuring affordability and accessibility. The trust provides shared management of the land and its buildings, guaranteeing affordability and sustainability for future generations. Sustainable design, construction and management choices are encouraged because a community land trust is anti-speculative and focuses on long-term goals and community interests, uniting both local and public concerns.

Community Land Trust NL

The Stadmakers Fonds is a good example of a fund that invests in impact-driven organisations that are looking for real estate financing. It assists initiatives in purchasing property and land and helps finance construction with a balanced financial return.74 One possibility would be to establish a similar fund specifically aimed at supporting the cultural sector in acquiring property and land.

3.5. Cultural Productions and Expression

Theatre performances, exhibitions, films, music festivals, photography, literature and other cultural expressions play a crucial role in a society that fosters radical imagination. Production houses, dance groups, theatre companies, music festivals and game studios develop groundbreaking projects that highlight diverse perspectives, insights, voices and stories on social issues. A potential impact investment fund could focus directly on enabling such cultural expressions through productions that present new perspectives.

Stichting DOEN has long supported theatre companies and production houses through the VriendenLoterij Fund, empowering radical imagination to show that another world is possible while offering space for a diversity of perspectives. DOEN financed for example Introdans, where inclusivity and diversity take centre stage, and the theatre productions of PS Theater from Leiden, which focus on the personal stories of people who have experienced social inequality firsthand.75 Many more projects from the VriendenLotterij Fund can be found on their specific website.76 According to DOEN, “this richness of ideas, sounds and images challenges the dominant societal narrative of individual gain and the planet as a mere resource”.77

Financing Needs

The financing needs in this segment vary significantly. On the one hand, there is a strong demand for long-term “core funding”, as opposed to temporary or project-specific grants. On the other hand, there is a need for loans, as performing arts, festivals and music events often require upfront investment before generating revenue. Pre-financing (also called bridge loans) is a commonly used financing model in the performing arts, music and film sectors alongside grants. Income is often only generated once a film is released, a festival has taken place or a performance has been staged, or when a music album or video game is sold. To address this temporary liquidity issue, impact investing through loans or revenue-based financing can be a suitable tool.

Revenue-based financing is a form of capital provision where investors provide funding in exchange for a percentage of future revenues, rather than a fixed interest rate as with a traditional loan or an ownership stake as with equity investments. Production houses or companies can raise capital by offering a share of future income, such as ticket sales from performances or royalties from streaming services, to an investor. This model is commonly used in independent film productions and low-budget films but could also apply to theatre productions and other performing arts, as it offers flexible financing without sacrificing ownership.

Several production houses, festivals and dance companies have benefited from bridge loans. A case study, featured by Cultuur+Ondernemen is the International Dance League, a Rotterdam-based organisation promoting urban dance.78 The organisation required a bridge loan because expenses such as staffing and production costs arose long before the event generated income. For many producers, this means covering a substantial portion of expenses upfront. Another example is impact producer Joost Vervoort, who, alongside former game developers from Guerrilla Games, is developing the video game All Will Rise, which focuses on climate justice.79 Players engage in global climate litigation cases within the game, inspired by Joost’s involvement with the activist group Fossielvrij, which took legal action against the ABP pension fund. The team is currently seeking venture capital to develop the game and intends to offer impact investors a return from the game’s sales revenue.

An impact production fund investing in large-scale, socially impactful theatre productions, films, music events and video game projects would directly address a key need within the sector. Investors could benefit not only from the financial returns generated by the productions but also from the societal impact created by these projects.

A relevant example of such a fund is Think Film, an organisation developing an impact investment model specifically for documentaries.80 Think Film specialises in social impact campaigns tied to documentaries on issues such as the Navalny case, deforestation and Indigenous land rights in the Amazon forest. These campaigns, often run in collaboration with local NGOs, serve as lobbying tools to influence policymakers, including advocating for legislative changes. Impact investors could invest not only in the film itself but also in the accompanying impact campaigns, generating both financial returns and measurable social impact.

3.6. The Culture

A significant number of creative enterprises that deliberately generate social impact emerge from a movement known as “the culture”. In the report “Irreplaceable and uncatchable: The innovative power of the culture”, the UNESCO Commission discusses the societal impact of this group of cultural entrepreneurs and artists with bicultural backgrounds.81 These creative entrepreneurs address social issues, foster understanding between cultures, amplify the voices of marginalised communities and create opportunities for employment and economic development. They also challenge dominant societal systems. Creating impact is an intrinsic part of their mission. A potential impact investment fund could focus specifically on this group.

UNESCO Netherlands describes “the culture” as “a diasporic cultural sphere where value creation emerges”.82 Its forms of expression – such as design, fashion, nightlife, music, film and art – are influenced by postcolonial migration and are deeply rooted in (Afro-)diasporic cultural production. Due to its diasporic foundations, this cultural ecosystem primarily develops in urban environments and migrant neighbourhoods.83

The culture is closely linked to hip-hop culture, which centres on self-expression, individuality and activist critiques of societies that marginalise certain groups. It is a lifestyle upheld by communities sharing common values, experiences and attitudes. “The culture” consists of an inclusive community of people from diverse ethnic backgrounds. Creators within this sphere are often pioneering and trendsetting. Breaking with prevailing norms defines the independent and defiant nature of the culture, with key drivers being self-determination, personal growth, identity formation and a “do-it-yourself” mindset.84

Compared to the previously discussed sectors, this group tends to have a noticeably stronger commercial focus. Many of these entrepreneurs have a deep understanding of market dynamics and are rooted in their sectors. A prime example is the Amsterdam-based brand SMIB (an inversion of Bims, short for Bijlmer).85 This collective not only produces hip-hop music but also organises an annual festival, designs clothing and creates films.86 The New Originals is a creative consumer brand that began in 2011 as a close-knit group of friends sharing their passions for fashion, design and music through a blog.87 It has since become a successful brand operating in art, music, fashion and nightlife. Similarly, the Amsterdam-based creative company Patta has expanded from being a global streetwear brand into a community-driven hub for creatives.88 Their initiative, Patta Academy, originated from summer schools they organised for children in Amsterdam-Zuidoost who couldn’t afford holidays.89 Today, the academy serves as an incubator for creative entrepreneurship and talent development.

Other examples include DAR Cultural Agency and The Niteshop,– creative agencies that represent diasporic communities and promote diverse cultural expressions.90 These platforms represent talented artists, organise cultural programmes, talks and exhibitions and challenge Eurocentric narratives.91 “The focus lies on meaningful collaborations between artists from the design, architecture and visual arts fields, alongside brands, museums and communities, with a core emphasis on balancing artistic growth with financial independence.”92

According to the UNESCO Commission, this group of creative entrepreneurs systematically lacks recognition and support. This is evident in limited access to funding from institutional investors and the grant system, as well as restricted access to cultural institutions and distribution channels. Due to this lack of visibility and exclusion, the impact potential of these entrepreneurs remains underutilised, and important messages, stories and perspectives remain unheard, leaving critical societal issues unaddressed. UNESCO therefore recommends greater recognition of the power and success of “the culture”, specifically highlighting its role in identifying and addressing societal challenges. According to UNESCO, “the culture makes an invaluable contribution to achieving the SDGs. They are embedded in society and capable of reaching large audiences, including youth. Their innovative power is indispensable for shaping the city of the future.”93

Financing Needs

This group has a particular need for seed capital to cover start-up costs for new businesses or product lines. A potential impact fund could adopt an approach tailored specifically to this sector. One strategy could involve focusing on cities with similar typologies and multicultural characters, such as Amsterdam, Hamburg, Milan, Marseille, Rotterdam and Antwerp, or other parts of the Kingdom of the Netherlands, such as the Caribbean Netherlands. A defining feature of this group is their translocal nature – deeply rooted in local culture while simultaneously connected to global cultural movements.

Another critical need among creative entrepreneurs with bicultural backgrounds is for representation from within their communities among investors, along with improved access to existing financial networks. There is a strong resistance to the tokenistic appropriation of the culture for the sake of diversity and inclusion checkboxes without genuine structural change. It is not about outdated models of participation but about true agency and shared decision-making. Real engagement and genuine connections are essential. What this group needs are impact investors willing to fund these communities, their rich cultural expressions and diverse impact dimensions to help sustain their unique identity and long-term existence.

An impact investment fund could focus on supporting the culture by investing in creative ventures that help shape the city of the future through imagination, community, translocality and social impact. This could involve a diverse range of enterprises, such as ethical fashion brands, music festivals, nightclubs and record labels.

“This is a group with ambition, a deep understanding of market language, but they often hit barriers. Due to the limited recognition and financial support within the grant system, a DIY mentality has emerged – if the system doesn’t work for them, they find their own way.”

Martin van Engel, Diversity and Inclusion Advisor

“When I look at the focus areas of DOEN Participaties, I think: yes, it aligns perfectly with ‘the culture’.” 

Lisanne Bedaux, UNESCO Netherlands

Footnotes

45. https://christienmeindertsma.com/

46. https://www.dotunusual.com/

47. https://www.paulinevandongen.nl/studio/

48. https://zeefier.eu/

49. https://neffa.nl/

50. https://www.doen.nl/en/news/neffa-new-fashion-factory-secures-seed-funding

51. https://loop-biotech.com/

52. https://byborre.com/

53. https://wear-store.nl/

54. https://softrevolt.com/

55. https://loopalife.com/

56. https://newoptimist.nl/

57. https://lena-library.com/

58. https://mudjeans.com/

59. https://www.makersunite.eu/

60. https://www.doen.nl/nieuws/winnaars-van-de-doen-textielcall-2022-zijn-bekend

61. https://www.versatileforever.com/

62. https://www.parool.nl/nederland/versatile-forever-maakt-mode-van-vintage-voetbalsjaals-en-shirts-ik-heb-ajax-en-feyenoord-nog-niet-durven-combineren~ba308ffd/

63. https://www.simondogger.nl/

64. https://www.simondogger.nl/emotionwhisperer.html

65. https://www.fysiekfabriek.nl/

66. https://www.spaceforplay.org/

67. https://strootman.net/

68. https://nymamakersplaats.nl/

69. https://brutus.nl/

70. https://www.amsterdamalternative.nl/

71. https://www.collectiefeigendom.nl/vrijplaatsen/vrij-beton

72. https://www.ot301.nl/

73. https://bajesdorp.nl/

74. https://stadmakersfonds.nl/

75. https://introdans.nl/ en https://pstheater.nl/

76. https://vriendenloterijfonds.doen.nl/

77. https://www.doen.nl/hoe-we-het-doen/versnellen-van-transities

78. https://www.cultuur-ondernemen.nl/artikel/naast-fondsen-en-subsidies-blijkt-de-cultuurlening-een-uitkomst-voor-het-dansfestival-international-dance-league & https://www.internationaldanceleague.com/

79. https://www.allwillrise.com/

80. https://tfip.org/

81. https://www.unesco.nl/sites/default/files/2023-11/Advies-the-Culture.pdf

82. https://www.unesco.nl/sites/default/files/2023-11/Advies-the-Culture.pdf

83. Ibid.

84. Ibid.

85. https://smib.jp/

86. https://www.amsterdam-dance-event.nl/en/artists-speakers/smib/18431/#:~:text=SMIB%20(het%20omgekeerde%20van%20Bims,)%20festival%2C%20kle ding%20en%20film

87. https://theneworiginals.eu/

88. https://www.patta.nl/ https://www.pattaacademy.com/

89. https://degezondestad.org/blog/van-zomerschool-in-zuidoost-naar-ondernemers-van-morgen/

90. https://dar.nu/ & https://theniteshop.com/

91. https://dar.nu/

92. Based on a conversation with Zineb Seghrouchni and https://www.unesco.nl/sites/default/files/2023-11/Advies-the-Culture.pdf

93. https://www.unesco.nl/sites/default/files/2023-11/Advies-the-Culture.pdf