Key takeaways from Laura’s discussion with Pathstone’s Chief Impact Officer, Erika Karp, are highlighted below. Please also see the resources listed at the bottom for links to other sources of information Laura cited during the webinar. To access the video replay, click here.
- The creative economy relates to art, design, and culture. Definitions can vary based on region, and can include fashion, film & TV, video games, food, the visual art market, immersive experiences, health & beauty, and other creative industries.
- There are clear linkages between creative economy investments, local economic development, and economic empowerment, particularly for BIPOC entrepreneurs.
- Values-aligned capital can help enable a creative middle class in the United States.
- Much more can be done: currently, only 13% of museums, key community cultural touchstones, invest their endowments in active alignment with their values.
- Impact funds that are supportive of creative industries, coincidentally, do some of the best work supporting BIPOC communities, according to Laura.
Resources:
Upstart Co-Lab. “Creativity, Culture & Capital: Impact Investing in the Global Creative Economy.” Accessed March 22, 2023. https://upstartco-lab.org/creativity-culture-and-capital-impact-investing-in-the-global-creative-economy/.
Upstart Co-Lab. “Cultural Institutions Investing for Values and Mission.” Accessed March 22, 2023. https://upstartco-lab.org/cultural-institutions/.
Upstart Co-Lab. “Inclusive Creative Economy Strategy.” Accessed March 22, 2023. https://upstartco-lab.org/inclusive-creative-economy-strategy/.
