Why we are charging $400 for the event & our published budget

Every year, we struggle to decide how much we should charge for TEDxPortofSpain. Each year, it becomes a straight math problem. How much does the event cost? How much money do we have? Despite our best efforts, we still have not been able to get enough sponsorship to host a free event. Some people on the team think the event should never be free, some think free is the ultimate goal. However you slice the cake, currently, we cannot afford to host a free event. This explains why we are yet to be in a position to host TEDxPortofSpain for free.  Please read below for further information.

Aren’t TED events supposed to be accessible and democratic?

This is a general misconception about TED events. TED releases one talk per day from its bank of talks. That content is freely available to anyone who can access it. All TEDx content is also free and available on the Internet. The subtlety comes in that attending TED conferences, experiencing the talks live can cost upward of $TT24,000. Although TED makes some of its content freely available, TED events are for a select, curated audience. TED holds a unique space of being both exclusive and inclusive.

Why are we charging?

TEDxPortofSpain is a non-profit event that relies solely on the generous support of our partners and the hard working volunteers of our community. One of our goals is to deliver a free event that is on par with TED and TEDx Conferences around the world. With that, we have chosen to pay for certain aspects of the conference that ensure a high quality event for participants.

The major additional cost this year involves the decision to try to livestream the event. In this regard, we would be able to have viewing parties around the country and the world. We are committed to making the content of the event even more accessible. We can only livestream the event if all our $400. tickets are sold. Please note that we are still negotiating with sponsors and if a positive response is received, we intend to reduce the ticket cost accordingly.

Why haven’t we attracted big, exclusive sponsors?

Sponsorship could be easier if we allowed sponsors to influence the decision about speakers but we would like to keep TEDxPortofSpain truly about ideas/stories worth spreading.  Speaker selection/nomination has been very democratic and we intend to keep it that way.  We have firmly turned down a few offers to influence this process even if it meant turning down the potential for hosting a free event.

How much is the ticket?

If we include the hours put in by the organising team, we estimate that that real cost of the event is about $TT2,500 per person. Much of that cost is difficult to calculate because we have 19 volunteers who work year-round on this event, from selecting and coaching speakers, managing social media, hosting salons, design and branding, to working with sponsors.  Our team works hard to present an event that participants will enjoy and be inspired by.   We would not be able to host this conference without our team of dedicated volunteers. Through our partnerships, we have been able to reduce this cost tremendously. We will be charging $TT400 per person unless additional sponsorship allows us to reduce the cost.

What do other TEDx events around the world charge?

Some TEDx events around the world are free. Others can cost as much as $US250. We are charging approximately $US60-65.

What if I cannot afford a ticket?

Don’t fear, a limited number of tickets are being subsidised by our partners and the TEDxPortofSpain community. These tickets are meant to be a way of ensuring that TEDxPortofSpain 2013 is accessible to all who wish to attend. When participants request a ticket, there is a section that allows patrons to apply for a community bursary. This is why we have a 2-step process for our tickets. We needed a way for people to be able to apply for discounts  otherwise we would have simply sold all of our tickets at TT$400.

What if I would like to sponsor a spot?

If you would like to sponsor another attendee’s ticket or part of another attendee’s ticket, there is an option on the form where you can indicate how much you would like to contribute. You can either pay online or at our ticket outlets. Since we have collected information regarding the ability to purchase tickets, we will decide who benefits from this sponsorship.

How do we decide who qualifies for a bursary?

We do not have strict criteria for granting bursaries but primarily, we look at indicators like estimated income based on profession, age, etc. This means that the priority is given to people with low estimated levels of income, seniors, young people and students.

We also ask you why you’re applying for a bursary. Please ensure that you state your reasons very clearly when answering the question. We try our best to be as accurate and fair as possible.

Does charging for a TEDx event comply with the guidelines provided by TED?

Yes, it does. All TEDx events are allowed to charge for their tickets. TEDxPortofSpain has been approved to charge TT$650.

Why do I have to request a ticket?

This year we opted for a first-come-first-served option versus an application process. The request-a-ticket process allows us to capture demographics of our attendees which helps with sponsorship. More importantly, it allows us to build in a process for allocating bursaries. We could have easily used a ticketing vendor like Eventbrite or other online ticketing systems that have these functions built in, but we felt it was important to use a local vendor.  Island Etickets, out chosen local vendor are still working on a  feature to collect data with your ticketing. Consequently, we decided it was more important to use a local vendor with the two step process.

Are you willing to share your budget?

We have considered publishing our budget on a number of occasions, mostly as an example of how easy it is to be transparent. There are several issues about publishing our budget mostly related to respecting our vendors’ privacy. Many of our vendors have given us exceptional deals and have not permitted us to divulge this information. Some may look at the budget and decide we do not need any more money. Yet others may think we are wasting money on other line items that have been included to enhance the participants’ experience. We have made some strategic decisions about where we would like to spend money. Since the beginning, we have focused on quality videos and quality talks. Much of our budget is swallowed up by food and production. Here is a link to our most recent budget.