Unlocking local capital

Global power shifts and the retreat of some traditional democratic donors have dramatically amplified vulnerabilities in capital supply available to support a healthy information environment.

The lack of funding for independent media is a structural problem that needs structural solutions. To get there, we need bold investments that can accelerate the business capacity of our media partners, stimulate local resource mobilisation and innovate financing products to ensure an invigorated capital supply in the journalism marketplace.

That is why we have been on a quest to unlock local capital. Across IMS’ global network, local sources of philanthropy, private, community and government capital have emerged in many markets, but this is not just about the money. Our aim is to see a self-sustaining supply of capital that is locally led and managed.

We are focusing particularly on the needs of local public interest media, and how IMS can help our partners access local capital and turn localised appetites for new funding, financing and investment into realities. While still early, we are documenting existing efforts and workable solutions as we actively seek to build the case for local resource mobilisation and taking what works to scale.

In some contexts, these efforts focus on mobilising local non-ODA resources: from business philanthropy supporting funds for journalism in Bangsamoro, ecosystem building in support of a journalism fund in Indonesia, new routes for resource mobilisation through peer-to-peer collaborations in Pakistan to mapping sources of local capital in authoritarian contexts.

We also review ways to mobilise community giving or monitor openings through tax incentives. We are opening new conversations with local impact investors and we’re keen to have more people and stakeholders joining the conversation.