I have become increasingly convinced over the years that how we frame issues is critically important in securing what has been referred to as “buy in”.

Many promising projects have foundered because the pitch to secure “buy in” for them was not properly framed. This is often due to the fact that those we seek to persuade are not sufficiently convinced that they will be beneficiaries of the missions for which their commitment is sought. Sometimes I wonder how well we frame the arguments to promote investment in our cultural sectors from the traditional holders of capital in our society.

Those who read this column will know how passionate I have been on the issue of funding for cultural and creative ventures.I am indeed heartened by the fact that increasingly the voices for the introduction of proper venture capital and other such funding arrangements have been growing louder.

Last Friday Franklin Johnston in his article “The Big Idea” (in which he seeks to point the way towards Jamaican economic prosperity) notes that access to funding for innovators will be a critical component of any economic development strategy we intend to pursue as a nation. This position has been my mantra for almost two decades now. I have contended that we have remained poor as a nation simply because we have not been effective in establishing the appropriate modalities for the bringing together of capital and bright ideas. Johnston pointed to Levi Roots, the Jamaican culinary entrepreneur, who has launched a very successful brand of sauces and spices in Britain. This Johnston explains could not have been possible without someone willing to provide financial backing for Roots and his bright idea. Johnston suggested in his article that the collateral requirement to secure funds is a major deterrent to the emergence of bright ideas in Jamaica, a point I have been making constantly over the years. Julian ‘Jingles’ Reynolds has been very forceful in advocating the establishment of venture capital funds in Jamaica to stimulate innovation.

In 2006 at a conference in Downtown Kingston, I called for the establishment of a Cultural Venture Fund which would have been primarily capitalised by our diasporic communities. The fund would be used to finance innovative ventures in the cultural sectors and provide a return to the investors. This is a position which has been gaining some traction among a number of our writers including Julian Reynolds. David Mullings in a recent article suggested however that such funds raised among the diaspora could be used to retire more expensive Jamaican debt. I have always been of the opinion that our diaspora is one of the most important but underutilised assets we have at our disposal. Let us be frank Jamaican culture would not have been the international phenomenon it is without the strong presence of our nationals overseas. People like Junior Lincoln can attest to the the importance of diasporic communities in the popularization of our music and culture in Britain and eventually the rest of Europe. Diasporic communities are vectors for the transmission of cultural values,a harbinger of commercial opportunities.

Yet, it is very important how we in the music industry pitch our request for investment from other sectors of the economy. We are not looking help or handouts. What the music industry needs is an understanding among those who have the resources to invest that the cultural and creative sectors provide some of the best opportunities for them to secure meaningful returns on their capital. We should demonstrate that one of the special features of production in the cultural and the creative sectors is the flat marginal cost curve which often defines it. Many cultural endeavours such as musical and cinematic productions are characterized by high sunk costs and no increased marginal costs for additional units of production. This is why the software industry produces so many millionaires and billionaires. Understanding these facts will help to determine how our investment dollars are spent and will define whether we end up among the ranks of developed nations or continue to wait for the crumbs to fall from the table of the rich and powerful countries. The cultural industries have been some of the most successful features of our national character. What is needed now are greater levels of local investment in these sectors to generate additional value added.

cpamckenzie@gmail.com