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Arts Investment Forum

Entrepreneurship in the Cultural and Creative Industries: Opportunities and Degrees of Innovation and Technology
 
Topic(s): research on arts and cultural economics, creative industries and entrepreneurship,  public and private funding policies / research, artists' labour markets
 
Keywords:  Cultural and Creative Industries - Entrepreneurship - innovation - technology - creative classes- wealth - economic opportunities - research - knowledge economy
 
Summary:

This paper considers innovation as the key strategy of entrepreneurs and creativity as the key mission of artists; consequently, it assumes that entrepreneurship is a serious object of cultural economic research and that creativity is perhaps the most important characteristic shared by entrepreneurs and the creative classes (artists and those who present creative work to wider audiences). These creative classes complement a society’s technical and scientific knowledge and help uncover new opportunities, develop innovation, and intensify the use of new technologies. Both entrepreneurship and creativity are strategic resources in the knowledge economy. The implicit goal of entrepreneurship is the creation of novelty and value, achieved by developing a new, open mindset. The creation of wealth and economic opportunities are also among the main objectives of the cultural and creative industry. The research presented in this paper on entrepreneurship in the cultural and creative industry identifies a number of defining characteristics: idiosyncratic sources of opportunity, a higher degree of innovation, and a greater use of recent technologies. The research uses data from the Global Entrepreneurship Monitor Spain project, which has identified 1,299 entrepreneurial initiatives associated with cultural and creative activities.

 

 
Author / Published by: José Ruiz-Navarro, Professor in Business Organization, Chair of Entrepreneurship, Universidad de Cádiz (Spain), Salustiano Martínez-Fierro
 
Year of publication: 2010
 
 
 
 
 
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