Social Investment Through A Collaborative Village Festival: The Case of Farmers’ Village Festival in Jogjakarta

Villages require innovative Social Investment (SI) to improve human resource competencies and social capital to promote long-term community welfare. A festival can be a potential tool for SI. A Collaborative Village Festival (CVF), despite the occurrence of problems and challenges of common festivals and the limited available literature in the area, can be a potential variant of SI programs. This research aims to analyze the implementation of CVF and its success factors and identify the benefits of CVF as a tool for SI, especially for developing Human Capital (HuCap) and Social Capital (SoCap). Based on the results of a single case study, CVF, characterized as a multi-program and multi-stakeholder, has a role in developing HuCap and activating SoCap in several aspects. CVF also serves as a tool for multi-investment, which, in this case, is an eco-sociocultural investment. Several factors should be considered in designing and executing CVF to obtain greater benefits. The multi-stakeholder collaboration created through CVF forms a unique hexa-helix pattern, leading to a new variation of the helix model. This research provides practical contributions concerning festival management to optimize the SI-related benefits, which can encourage rural development.