WHILE THE MAJORITY of business investment in the arts still manifests itself in company art collections, brand sponsorship for arts events has become an increasingly important intersection for the two communities.

The effect of the publicity garnered by such sponsorship deals to companies is immeasurable, although market research teams often trawl the foyers of auditoriums asking questions related to brand recognition (For example: can you name three sponsors associated with this event?)

The net worth of such investment to arts organisations can be difficult to quantify too.

Rough Magic's recent partnership with AIB is a key example, with AIB joining forces with the theatre company to facilitate its participation in the Arts Council s Touring Experiment. While the straightforward financial dealings are valued at €300,000 over three years, the relationship is not about a net figure, it goes beyond the money, as Rough Magic executive producer Diego Fasciati explains.

"For example, with our tour of The Taming of the Shrew, AIB was involved in buying tickets for schools, which were not included in the financial agreement, and there are other ancillary events too," he says. "Sometimes the hard cash is not the most important part of sponsorship deals."

For AIB, its relationship with Rough Magic falls under the greater banner of its commitment to corporate social responsibility (or CSR). As the corporation states, "our involvement in our markets extends beyond pure commercial activities and we support a wide variety of groups in local communities . . . [Our relationship with Rough Magic is] part of this grassroots sponsorship strategy."

Another key example is the Axa Dublin International Piano Competition. The value of this sponsorship deal is incalculable, encompassing event organisation, advertising, and knock-on marketing for the musicians involved. The prize fund exceeds €50,000 a year, and this figure excludes prizes sponsored by individual patrons.

In comparison, Bank of Ireland's annual Toradh Award for an established artist, previously won by artists as high-profile as Alice Maher and John Shinnors, seems modest enough at €5,000, although the bank's artist sponsorship schemes do extend to emerging artists through its student award and its millennium scholarships.