Beyond the streets, the festival is a meeting place to promote and discuss non-institutional approaches to art in public space, and to inspire a shared sense of ownership over the visual realm in public space.

Artists are invited to produce site-specific artworks ranging from murals to small-scale interventions, with dissemination activities for the public such as workshops, guided tours, lectures, film screenings and exhibitions.

The festival takes place during the first week of the school summer holidays - so that young people from Grünerløkka have the opportunity to participate in the event through Bydel Grünerløkka UngJobb.

Løkka-Lykke is an initiative from Løkka Gårdeierforening and Street Art Oslo, which springs from an idea to celebrate Grünerløkka's unique identity. The event also corresponds to Oslo municipality's Action Plan for Street Art (2016-20/2022-25), which aims to promote street art and graffiti as contemporary art forms in public space.

The festival’s primary goal is to provide a bridge between street art and graffiti subcultures and the wider public, as well as to demonstrate the positive effect that street art and graffiti can have in building pride in the places we live.