One bold idea is NEW INC at the New Museum in New York City. One exciting trend in the museum sector’s embrace of start-up philosophy is bringing culture-related ventures on-site through co-working and innovation spaces. So how do museums achieve harmony around taking on risks related to the business model, and what are some of the creative approaches museums have already taken? Museums serve the public and protect our world’s culture in perpetuity, without the goal of generatingĪ profit in the same way as businesses. Monetizing internal expertise or other assets, if done in ways that propel a museum’s mission, can be tremendously fruitful and beneficial across the board. While they rely on major gifts, admission fees, and membership dues, grants, and other subsidies, cultural institutions are not barred from exploring other revenue streams. “We had a real consciousness and became increasingly aware of how our practices and procedures become outdated in this agile, new world,” says Kaywin Feldman, director of the National Gallery of Art.įinancial models are a delicate subject because the vast majority of museums are nonprofits with a strong adherence to a central, focused mission and a long history of philanthropy and tradition. Who is the driving force behind much of this change? Enter the museopreneur. Institutions are ready to take risks and explore, and they’re getting bolder and better at it. This is reflected in the design thinking that drives marketing strategy, exhibition design, and a desire to build out new revenue streams.Īs someone who operates at the intersection of museums, start-ups, technology, and philanthropy, I’ve been following this evolution closely. In an effort to be more agile, digital, and data-driven, museums are experimenting with techniques borrowed from the start-up and tech worlds and are applying them across the board. This comes as no surprise given the fierce competition for the consumer’s limited attention combined with a shifting philanthropic landscape. No industry is immune to disruption, and I’ve observed a growing appetite among cultural institutions to embrace a modern, innovative frame of mind. The people behind today’s greatest technology companies have redefined and reinvigorated the term “entrepreneur,” inspiring an entrepreneurial movement that has expanded beyond the confines of the business sector. For more info and for the entire Museums On Us lineup for the entire country, click here.Noun: one who embraces or assumes characteristics of an entrepreneur to advance their museum’s business model and general operations. Some places you will still have to pay for parking. Yup, I say this even though I clearly have not been to every place on the list…yet. IMO – The Florida Aquarium is the winner out of all the Florida “Museums On Us” museums - the facility is stunning, rather expensive to get into otherwise and located in smack dab downtown Tampa, giving opportunity to double or triple up on a day long adventure there. I’ve taken advantage of this deal so far with the The Bishop Museum of Science and Nature, Florida Holocaust Museum, Tampa Museum of Art, and the Florida Aquarium. South Florida Science Center and Aquarium The Children’s Museum of the Treasure Coast The Museum of Science and Industry (MOSH) Just provide your credit or debit card along with a photo ID. Trust get free access to a selection of free museums on the first full weekend of every month. Every year cardholders for Bank of America, Merrill Lynch and U.S.
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