Bridging the gap between the creative industries and venture capital
The Nordic economies have in recent years seen increased economic contributions been made by the creative industries (CI); the media, entertainment and artistic sectors. The shift to a creativity-based economy has not successfully managed to bring with it the investors, the financial institutions of banking and the venture capital funds. Three educational tools aimed at bridging the communication gap between investors and the creative industries has been created by this project.
Conclusions & Recommendations
The project developed three educational tools aimed at bridging the communication gap between investors and the creative industries. The first tool is a teaching DVD providing a concrete benchmark for how a successful creative activity (i.e. a book) was developed into a huge economic package of IPR products. The second tool is a 360 degrees interview with representatives from one of the few venture capital firms in the Nordic countries specializing in developing business opportunities within creative industries. The third learning-tool is an IPR- role-play and accompanying teaching manual.
Nordic Investor Survey
The creative industries in the Nordic countries need strengthening by empowering the entrepreneurs with IP-tools to use in the dialogue with investors and other financial actors. Furthermore, the incubators need to be reinforced. There is also a need for increased information on the investment side, something that could be reached by imitating NESTA`s survey of the interpretation of the investment opportunities in the creative industries. NESTA is the UK national endowment agency for science, technology and the arts, working to increase national innovation capacity. By asking 100 investor companies in the Nordic countries a specially designed questionnaire, essential investment information could be gathered.
IPR and Aesthetics
More work should also be done on the interpretation of the products and services of the creative industries in the continuum between IPRs and aesthetic visions and statements. Especially comparing the Nordic countries and the UK/US in these matters would be useful in order to adopt and adapt certain models for investment in IPRs.
Project start: February 2005
Project end: December 2005