Established in 2024, the Teosto Cultural Foundation’s mission is to promote Finnish creative musical art and improve its operational conditions.
The foundation aims to improve the conditions and diversity of Finnish creative musical art and to make it more international over the long term.
The decision to establish the foundation was made at the Teosto’s Extraordinary General Meeting in December 2023.
Vision: to significantly enhance the value of Finnish music
The Teosto Cultural Foundation aims for both artistic and economic success by:
- Elevating professional creators who are close to the peak of domestic creative musical arts to a new level, both domestically and internationally
- Strengthening structures that facilitate the exposure of creators and works, as well as audience building
- Promoting diversity and renewal in the field
Foundation Values
- Diversity
- Long-term commitment
- Open-mindedness
- Proactiveness
When the decision to establish the foundation was made, Teosto’s chairman of the board, composer Antti Auvinen, described the foundation as follows:
This is a historic decision, with which we want to develop the field of Finnish creative musical art over the long term. The Teosto Cultural Foundation can support Finnish creative musical art in ways that the current support structures have not been designed for. First and foremost, the foundation’s aim is to continuously increase the value – in a broader sense of the word – of Finnish music
Foundation Funding
The funding of the Teosto Cultural Foundation comes from funds transferred from the Teosto Fund. The Teosto Fund was established in 2009 to ensure the continuity of Teosto’s mission and cultural promotion activities. The fund’s assets come from the sale of Teosto’s property (office building and plot in Lauttasaari) and so-called ‘national funds’ withheld from distributions. The assets have been further accumulated by investing funds long-term in various asset classes. During 2024, a total capital of approximately 10 million euros has been transferred from the Teosto Fund to the cultural foundation, most of which is in investment assets.
Foundation’s Support Activities
In its support activities, the foundation aligns its support with its long-term goal of increasing the value, diversity, and renewal capacity of domestic creative musical arts.
- The foundation enables the artistic work of potential creators by investing in artists’ careers.
- If necessary, the same target or development project can be supported over a long period. Instead of numerous small grants, the Foundation aims to award larger grants to fewer projects.
- The foundation can also finance smaller support activities carried out through other organizations.
- The foundation can offer financial instruments to companies working towards the foundation’s goals.
- The foundation can support or conduct research related to its operating environment, thereby also promoting the knowledge base and research expertise of the music industry.
More information
Teosto Cultural Foundation aims to improve the conditions and diversity of Finnish creative musical art
