I'm doing some research into the funding and management models of design frestivals from around the world. The Sydney and Melbourne ones are covered but would really appreciate some input into the London, New York, singapore and any others that come to mind,,,,,
Sounds interesting topic. I think you should have a look at Dutch field as well... in here contemporary Design field is really interesting. Have a look at festivals such Experimenta Design or Dutch Design Week. Or contact Premsela (organization promoting design). There is also super nice public space events such as Urban Play.
Good Luck (unfortunately I don't know so much about the funding model, but you might find more info in the festival websites) or at least contact details where to ask more detailed information.
PS: When you get your research finalized I would love to receive more a copy, in case its public. For a reason that I am currently planning a Design organization promoting contemporary design and gathering practitioners in Mexico City (and global surroundings). So festival is in our interest when getting into that point - and hints for building a model for funding it.