Project Ingeborg is a strictly non-profit-venture for us in Klagenfurt. The reason for this: It's quite cheap to do and therefore we consider it as a hobby. You get to know great people (team members and artists) and you get rewarded so much by people who will soon start to love your project.
How much does it minimally take to start something like this in a town like Klagenfurt (100,000 people - scale it to your size)?
Total: 840 Euro
You see: There are lots of hobbies that are far more expensive. But you might think: With just 100,000 inhabitants, Klagenfurt is not a big town. Right, but not all costs scale like this. In a city the size of Vienna, Berlin or San Francisco costs would not go higher than 1,500 Euro (2,000 Dollar)
We did reach out for sponsors although did we only ask for the right to put our stickers on certain locations. Those were the local bus company or a supermarket chain.
But you can easily find sponsors helping to finance your project. Companies like the sponsoring of culture projects like this because you won't ask for a lot of money and the project is very visible. A prominent mention (possibly with a logo) on the (mobile) website or sticker should help you.
But be aware that the work of your artists don't deserve to be placed in between an advertising campaign.
One of our goals is that artists have more revenue in selling their music or books. Therefore we link to stores like Amazon or iTunes. Both of the run affiliate-programs. In short: Your get a tiny bit (5 to 10 percent) of the revenue when people go there and shop something.
You have to register for the Amazon Partnernet [DE] or Apples iTunes Apples iTunes affiliate program in order to take part. It is important to mention, that the artist won't get less money paid and the customer won't get charged more for this.
But you cannot expect a lot out of it. We only made a few Euro - far not enough to pay for our hosting expenses.
There are some institutions that give grants for cultural activities. Maybe your municipality could help you too financing the project. Bringing young people to read or consume local music is in there interest after all.
It doesn't hurt, asking!