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Inside Business Magazine

everything we do is a commitment to facilitate professional development, networking and mentoring to ensure that creative businesses can grow even further. Andrew Ko, CEO and founder of Moment.Us is one such example. Originally from Canada, Andrew came to Manchester three years ago, via Toronto, for his PhD at the Manchester Business School. We funded Moment.Us through the Collider business accelerator programme which helped them leverage significant private sector investment. Since receiving support, Moment.Us have developed an innovative streaming radio and music discovery application that automatically generates the most relevant playlist for an individual by intelligently determining what songs fit that moment best. This has created new jobs and profile for the company which was featured as Tech City News’ Download of the Week. They have also forged strong relationships with some big brands and have ambitious plans to expand the company even further. Confidence in the creative economy is growing. However growth in the creative sectors requires a highly skilled workforce, access to money, markets and networks as well as connected people to bring all these things together. Now is the time to take the creative industries seriously, to invest in talented people, to create the right environment for success and to lead the world in creative ingenuity. within the creative economy at 2.5 million and growth figures which would undoubtedly be the envy of other industrial sectors. In addition to the economic benefits incurred from the UK’s global creative success, the creative industries have helped to generate important profile for the country as a whole. However, it is vital that we don’t rest on our laurels. Foreign approaches to the creative industries provide a stark reminder that the UK’s success will not go unchallenged. There is always room for improvement and the creative industries are no exception – we must build on every opportunity. Creative businesses have proved to be key drivers of product and process innovation in other sectors outside of entertainment, through for example, the application of 3D gaming engines in medicine and engineering. That is why Creative England has formed partnerships with bodies like NHS England to establish the NHS Digital Fund and with the Library of Birmingham (above) to improve cross-sector collaboration and open up practical opportunities for creative businesses to work with other business sectors. By introducing sources of funding, opening up new markets and investing in new ideas, prototypes and products we are helping to create jobs and to grow the balanced resilient economy the UK needs to compete in markets around the world. And it’s essential that we don’t just throw money at companies and tell them to get on with it. Threaded through The UK’s creative industries are worth £71.4 billion per year to the UK economy, a new study from the Office for National Statistics recently revealed. The creative industries, which include film, television and music, generate a staggering £8 million an hour. Growth of almost 10 per cent also meant that the creative sector outperformed all other sectors of UK industry, accounting for 1.68 million jobs (5.6 per cent of the UK total) in 2012. The UK creative industries are renowned across the globe, driving growth, investment and tourism. From supporting the development of full-length feature films through iFeatures to seed-funding the most exciting new digital SMEs, Creative England’s remit is broad and growing. The statistics from the ONS also came in the same week as a brand new website was launched celebrating the UK’s creative industries. thecreativeindustries.co.uk will become an invaluable new resource for both the industry and government. The site will coordinate film, music and other creative industry activity in the UK. The website comes out of the Creative Industries Council, which acts as a voice for the creative industries. It’s now clearer than ever before that Britain’s creative and digital industries are central to our economic recovery. The creative economy has shown extraordinary resilience in the post-recession environment, with employment Our Creative Nation “We must build on every opportunity” Caroline Norbury, Chief Executive, Creative England INSIDE BUSINESS MAGAZINE 37


Inside Business Magazine
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