Cultural and Creative Industries Innovation Fund



my name is Lisa Harding I am the coordinator for micro small and medium enterprise development in the technical cooperation division of the Caribbean Development Bank the cultural and creative industries Innovation Fund is a new program which was established in 2017 by the carbon Development Bank it is a facility of Finance and mechanism which we felt was important to help drive the development of the creative industries sector in our region we recognize that access to finance is one of the major constraints to creative industries entrepreneurs and the sector in general in terms of its development and therefore this fund is seeking to fill that financing gap in the market hi my name is Mary Alvaro and I'm the coordinator of the cultural and creative industries Innovation Fund hair and the Caribbean Development Bank so the cultural and creative industries Innovation Fund provides grant funding in three categories for innovative projects throughout our 19 borrowing member countries we provide for the enabling environments to develop the infrastructure available to the creative industries for the growth of the sector we also provide a grants for data collection and market intelligence and that is essentially to provide the statistics surrounding the industry that will enable us to understand exactly what the industry is doing how we're growing what kind of movements we need to make in order to forge a better pathway forward the component which speaks to improving the competitiveness of creative industries entrepreneurs and business support organizations has been designed to again more focus on capacity building interventions to basically help the entrepreneurs access new markets develop new creative products and services and also to just enable their improved competitiveness on a global scale eligible persons or institutions who can apply for finance and under the SIP bun include business support organizations academia creative enterprises with a focus on clusters non governmental institutions as well as government simple target by priority sub sectors including fashion and contemporary design film animation on Gaiman visual arts music and festivals and carnival so we have built three pillars intercept innovation collaboration and sustainability innovation is about really thinking through where we want to go in building in technology and building in other sectors into how we operate within the creative industries sector we want innovation to be hardwired into the fund in terms of its culture and its governance collaboration we are thinking about how we build communities our practice so we are looking for projects that really seek to bring others up and so if you are an experienced practitioner then how are you working within the sector to grow some other Enterprise we're looking for those projects that really span different countries and are tackling is to use in three or more countries within the Caribbean sustainability is really key to what we're doing here if the fund is not sustainable then we are not able to continue supporting the sector so we need this community of practice to be built around the fund in order to ensure the fun in sustainability and also to ensure that the projects within the funds are sustainable Raymond Williams says that culture is the complete way of life of a people and even though we all practice culture we all enjoy culture it's often a lot deeper than we think it is it's about embedded meanings it's about speech acts it is both the mundane and the extraordinary and to ensure that we can all continue to enjoy it we have to all support it and we hope that through the creative industries Innovation Fund we can finance exciting innovative projects that would help to build the sector and to help diversify our economies even more and to take our creative industries to another level