5×5 Indy was launched in 2013 by Central Indiana Community Foundation, Christel DeHaan Family Foundation and the Efroymson Family Fund. Joined by the Lilly Endowment in 2015, these entities were pleased to introduce the Indianapolis community to an initiative designed to inspire, ignite and financially support creative and innovative ideas related to the arts. To make this happen, the Indianapolis funders partnered with 5×5 host organizations: Big Car, The Harrison binary options trading Center for the Arts, IndyHub, Indy Reads, Indiana Humanities, People for Urban Progress (PUP), and Verge. The funders and host organizations worked to co-design a platform to give anyone with a great idea the opportunity to compete for a $10,000 prize at four unique 5×5 events each year.
SIMILAR INITIATIVES IN THE INDIANAPOLIS COMMUNITY
Since the launch of 5×5 Indy, other entities in the Indianapolis community have embraced and independently funded prize initiatives, including the following examples:
• In February 2016, Local Initiatives Support Corporation (LISC) Indianapolis and the Harrison Center for the Arts co-sponsored a hosted 5×5 idea competition with a $10,000 prize for the Great Places Initiative.
• Indiana Philanthropy Alliance’s Lifelong Indiana Coalition hosted a “5×5″ Award Competition, at The Garrison at Fort Benjamin Harrison State Park on Tuesday, August 25, 2015
• A $20,000 prize was awarded at the 2015 Spirit & Place Festival to the Jewish Community Center Indianapolis for a 2015 program with Dance Kaleidoscope entitled “The Choreography of Dreams.”
Great ideas come from lots of places.
The Indianapolis funders are proud to have been a part of 5×5 Indy, supporting an initiative that, over the past three years, included 12 idea-generating events providing $120,000 to 12 winning ideas. Having successfully introduced a 5×5 prize initiative model to Indianapolis, it is time for our support to transition to other initiatives.
To learn more about past 5×5 Indy competitions, our 2015 Creative Partner, IndyHub, supported and enhanced the efforts of the 2015 Hosts by cataloging the four 2015 5×5 events through a series of blogs and videos and providing support to create updates from the eight previous winners in 2013 and 2014. Please visit http://indyhub.org/author/5×5-indy/ to access these informational pieces.
The model is one that has resonated and resulted in the development of independently funded prize initiatives. We are confident that this will continue and encourage others to financially support efforts to create platforms to present new and innovative ideas for the Indianapolis community.
We look forward to seeing what Indianapolis creates!