FEST's Vision
The purpose of FEST is to create a powerful Financial Ecosystems for Systemic Transformation (FEST) that greatly accelerates development of the field of Financing Systemic Transformation (FST) by facilitating synergistic collaborative action amongst its actors.
The FEST strategy comprises three action components:
- Current reality analyses that identify and map those in the field, their roles and activities.
- Cohering an ecosystem of well-connected people and resources that demonstrates the ability and capacity.
- Supporting experimental projects that develop FST approaches.
Within these action components, the follow goals are in development:
FEST One Year Goals
FEST proposes the following one-year goals, through the first quarter of 2024:
1) 2-3 Working Groups...
... of Founding members and others to assemble and advance knowledge, tools and processes to address critical issues such as aggregating and blending finance, metrics, policy and ensuring equity.
2) 1-2 collaborative experiments:
Supporting experimental projects that develop FST approaches and make them a powerful, recognized and supported part of the financing and transformation landscape.
3) A 3-5 year pathway for the field's development
The FEST community will develop a 3-5 year collaborative pathway for the field's development to a stage where it can rapidly mature.
4) A capable foundational community committed to the pathway:
Creating a well-connected coherent ecosystem of people, organizations, resources, and activities that is unleashing the collective potential of the field, including:
- Requisite diversity
- Strong membership, size & engagement
- Technical infrastructure
A community convening at MIT at the end of January 2024 is planned to bring together outcomes from the FEST Proposal Concept Notes to further detail a three-to-five year pathways for developing the FST field. This trajectory is represented below.
FEST 3-5 year goals
With the pathway outlined above as a guide, the following outcomes are proposed over 3-5 years:
- A well-recognized, well supported FST field.
- A powerful ecosystem that is propelling forward the field's on-going evolution.
- A new evolving narrating shaping the direction of the field, norms and behaviours.
- A network with the requisite diversity, competency, entrepreneurial drive and commitment to accelerating the FST field.
- A fundamental contribution to addressing the urgent crises of our day, by creating the foundation for financing their transformation.
Developing the Field of Financing Systemic Transformation (FST)
FEST Financial Strategy
FEST's Innovative Financial Strategy has the following characteristics:
- Modular for specific project actions
- Incrementally, rather than through one large investment
- Integrates financing and membership organizing
- Creating relationships among the investors and among the investors and others in the FEST field.
- Avoids competition with larger requests by other Ecosystem participants
- Supports radical collaboration between funders and others
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