With the Arab region redefining itself in the midst of all the current upheavals in its societal structure, investment in cultural movements has never been more crucial. This is why the Arab Fund for Arts and Culture (AFAC) — an initiative established in 2007 dedicated to supporting cultural individuals and organizations — has set up the Arab Creativity and Entrepreneurship Fund (ACEF).
ACEF will be offering one thousand shares to be acquired at $1,000 per share, to collect a total of $1 million. ACEF will be used to support 50 cultural projects from all sorts of cultural categories, including literature, visual arts, performing arts, cinema, music, and research, documentary film and photography. ACEF will select its grantees after a rigorous selection process in 2014. The Fund will only cover project work of the selected grantees with no overhead or administration fees, and the return on investment for shareholders is the social impact these projects will provide to their communities and societies. With the thinkers and cultural practitioners in the Arab region stimulating important discussions and offering new perspectives, ACEF believes that investing in these voices will benefit not just the region, but the world as a whole.