CREATIVE ENTREPRENEURSHIP

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Methodologies & strategies to support the creative industries sector
Professor David Rae drae@lincoln.ac.uk
Creative Entrepreneurship

Messages from young creative entrepreneurs
‘Being young is a challenge in itself – not being taken seriously as business people by banks and accountants’ ‘Focusing on progress and achievement with supportive peer review really helps’ ‘Collaborative action and networking builds confidence’

‘Enterprise bursaries help reduce risk and fund start-up costs’

Creative Entrepreneurship

Questions to address: • • Why is there a need for creative entrepreneurship by young people? Why the creative industries sector? What do we aim to achieve? What do young entrepreneurs want and need? How can we achieve our goals? What approaches do we know that work? Who needs to work together? What resources and initiatives are required? Creative Entrepreneurship • • • • • • .

Creative Entrepreneurship .Our challenge As enterprise educators we face the biggest challenge and opportunity of our generation in the post 2008 era: How to provide the confidence. skills and tools which will inspire and enable young people to start their working lives and to achieve economic and social regeneration through enterprise.

Why is there a need for creative entrepreneurship by young people? • Worklessness is a major social & economic problem for the next decade • Corporate & public sectors cannot provide the jobs required • Creative thinking is required to create the new jobs • Investing in young people & creativity will show economic & social returns Creative Entrepreneurship .

services.Creativity & creative industries Are the ‘creative industries’ too narrow or an artificial definition? Creativity is required in all organisations: • Creative problem-solving • Creating opportunities • Designing & innovating new products. experiences • Creative communications & marketing channels • Creative uses of new technology • Creative social enterprises & social spaces Creative Entrepreneurship .

Creative Entrepreneurship .What do we aim to achieve? • Increase entrepreneurial potential & aspirations of young people? • Enhance creativity in society? • Increase in ventures created? • Provide socially & economically useful services for communities? • Provide useful jobs? • All of these? Choices affect the actions we take.

What do young entrepreneurs want & need? Many have: • Ideas & imagination • Energy & passion • New technology knowhow • Perceive opportunities we do not • Do not know what cannot be done Many require: • € Resources • Experience • Self belief • Business skills & knowledge • Access to business & social networks • Ability to convince the bank manager Creative Entrepreneurship .

How? Entrepreneurial learning – a vital capability for the new era • Learning to work as an entrepreneur by acting opportunistically & creatively • Experiential discovery-led learning by doing from primary to Higher Education • Applied creativity • Engage business people and communities in the learning process – outside the classroom Creative Entrepreneurship .

Every one of us is a creative person! We can have ideas and do things with them! Creative Entrepreneurship .

Innovations & solutions 1.Turning winning ideas > opportunities 3. How to make it happen Creative Entrepreneurship . Problems & needs 2. Who is it for? 4.

practical. uncertainty and ambiguity to develop students’ judgement ‘Feel the enterprise experience’ – emotional engagement Creative Entrepreneurship . energises them to succeed Experiential. practitioners and entrepreneurs contribute to learning Risk.What can students gain from enterprising learning? • • • • • • • • • Purposeful. work and community situated learning Provides supporting business skills & know-how Alumni. stimulating & engaging learning Relevant to their lives & careers Investigating ‘real’ problems and exploring opportunities Personal growth & social confidence.

Networking Creating & using contacts Communicating effectively Self marketing Learning from experience Opportunity centred entrepreneurship What do I want? Personal goals Skills & strengths Confidence & self efficacy Values & motivations Acting on opportunity Personal enterprise OPPORTUNITY CENTRED ENTREPRENEURSHIP Planning: Goals What is success? How-to? Who with? Resources Planning to realise opportunity Creating & exploring opportunity Creative Entrepreneurship Creative thinking Exploring ideas Seeing needs as opportunities Taking initiative .

A new paradigm for entrepreneurship? Old e-ship (US/UK?) • Individualist • Neo-liberal capitalism • Opportunity pursuit regardless of consequences • Business driven: short term profitability & growth • Value creation solely financial • Exploits & wastes resources • Exclusive role models • Masculine attributes: aggression. practice & leadership Creative Entrepreneurship . power. intuitive Grassroots enterprise This change can be achieved though education. conflict New e-ship (European?) • • • • • • • • • Individual-team leadership Networked & collectivist Socially connected & inclusive Ethically responsible Sensitive to resource conservation & re-use Multiple forms of value creation Economically & environmentally sustainable Feminine values: relational. collaborative.

New connections for creative entrepreneurship Students Entrepreneurs & business networks Educators Connect People Communities Government agencies Purpose & commitment Problems & opportunities Generate Confidence to act Resources Ventures Results Ideas Teams Support Creative Entrepreneurship .

by big organisations in recession: • Resources (people. knowledge) + • Opportunities (creative problem-solving) + • Facilitation support (people learning in teams) = • Venture projects (create value. capacity. jobs & solve problems) Creative Entrepreneurship . technology. finance. property.e. IP.Latent resource entrepreneurship Find new uses for resources being wasted .g.

Examples of what works Enterprising learning: • Enterprise in the 12-16 curriculum • Junior Achievement/Young Enterprise in schools • Prince’s Trust supporting disadvantaged young entrepreneurs (18-30) Creative Entrepreneurship .

student & graduate start-ups (ERDF) • Based on bursaries + support http://www.emincubation.nacue.co.com • National Council for Graduate Entrepreneurship www.ncge.Student business start-up • SPEED: 750 students started businesses 2006-8 • Enterprise Inc.com Creative Entrepreneurship .uk/main/Enterprise_Inc • Student enterprise clubs & societies – NACUE www.

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What is Access Innovation? The aim: • To assist business improvement through innovation How: • Company-specific development projects with students and graduates • Introduce & exploit new opportunities. products. services • Increase productivity & efficient use of resources • Improve competitive edge: survival and growth • Make money • Enhance graduate employability and retention. • Create and safeguard jobs Creative Entrepreneurship . markets.

education.Summary • Our leadership is essential to connect people & organisations • Support young people’s & student enterprise clubs & societies • Applied creativity & learning by doing • Use the new technology • Invest resources & support • Collaborative innovation by young people. Creative Entrepreneurship . communities & public sector is the way forward. business.

ac.Featured book: Opportunity Centred Entrepreneurship ‘Entrepreneurship: from Opportunity to Action’ © Professor David Rae: Palgrave MacMillan 2007 www.uk Creative Entrepreneurship .uk drae@lincoln.palgrave.com/business/rae/ Chapter 1 & tools downloadable free on website Lowest price: www.bookdepository.co.