Outcomes of Sector Transformation Fund

Response to parliamentary question on the outcomes of the National Arts Council’s Sector Transformation Fund and whether it has achieved its intended goals.

PQ 6248. Ms Usha Chandradas: To ask the Minister for Culture, Community and Youth (a) what has been the outcome of the National Arts Council’s Sector Transformation Fund; and (b) whether it has achieved its intended goals.

1. The Sector Transformation Fund (STF) was introduced in 2022 with the objective of supporting arts companies in their transformation efforts. This includes developing financial and operational resilience, as well as exploring areas for innovation and growth.
2. Under the scheme, companies can receive funding to pursue the following outcomes, at both organisational and sectoral levels:
1. Generate market demand by creating new and/or innovative arts experiences;
2. Improve operational efficiency; or
3. Develop diverse revenue streams.
3. STF funding has enabled participating arts companies to identify market gaps, invest in technological solutions to improve their operations, and create new markets for their products. Since 2022, the STF has supported close to 40 companies for business consultancy, the implementation of transformation projects, or both.
4. For example, performing arts company Sri Warisan tapped on the STF to digitise and host past productions on a centralised Cloud storage platform. This transformed their business operations by streamlining the sharing of files for teaching staff and external partners, including for programmes like the Light to Night Festival.
5. Book publisher TrendLit used STF funding to work with 10 artists to produce merchandise containing literary elements. This enabled the company to diversify its offerings and collaborate with retail and design companies that were previously not involved in the literary arts scene.
6. NAC also supports arts companies’ transformation efforts through other sector-wide programmes. Such programmes include the Arts x Tech Lab, which supports arts practitioners to create innovative arts experiences, as well as the Acceleration Programme for the Arts, which helps to build artists’ business and financial competencies.