Creative entrepreneurs, economic accountability and extra-sector crossovers
Max. amount of participants: 30
By: Prof. Elisabetta Lazzaro and Dr. Marco Mossinkoff (HKU)
Round 3 | 15:00-15:45 hrs
In a context where companies in the creative and cultural sectors are increasingly reliant on private funding (e.g. crowd-funding) to compensate for an increasing lack of public subsidies, the pressure on monetary measures of success increases. At the same time, public institutions do enact measures to stimulate the broader economic and social, or societal, effects of cultural and creative entrepreneurship.
In such a context cultural entrepreneurs are faced with the complex issue of being at the same time accountable for their economic survival, as well as for their cultural and societal contribution in order to obtain both private and public funding. Remarkably, a higher economic independency is often considered as a criterion for policy makers to allocate public funds.
The question arises of when should a cultural entrepreneur invest in either monetizing output, or enhancing societal contribution. In order to answer this question (or in order to include crossover effects in the business model) we should first understand what the relation is between these two success criteria.