Accelerating Innovation in the Creative Industries with Alice Loy
Alice Loy, co-founder of Creative Startups, discusses her work supporting entrepreneurship in the creative industries.
The Herberger Institute Office of Enterprise and Entrepreneurship Programs brings Alice Loy to ASU for a public talk, “Accelerating Innovation in the Creative Industries.” Loy will also be visiting the Curb Master of Arts in Creative Enterprise and Cultural Leadership students. This unique masters program empowers students to advance innovation in the cultural sector, support creative work and careers and design public and private enterprises that will strengthen arts and design in the future. Loy’s ambition to inspire more creative graduates to launch startups and bring their innovations to market aligns with the program’s goals.
The creative economy is growing by leaps and bounds as new design firms, music sharing platforms and film production companies pop up across the globe. The growth reflects a rise in market demand for unique products, support for locally owned businesses, and niche markets. Loy, who holds a PhD in Strategic Communication and Entrepreneurship from the University of New Mexico, co-founded Creative Startups, which is based in Santa Fe, New Mexico, and created the Creative Startups Accelerator to provide support for entrepreneurs growing creative companies.
“Nationally, nearly half of arts and design students try to start companies, and 90 percent fail because they haven’t been equipped to succeed,” Loy says. “They haven’t taken classes in entrepreneurship, marketing or accounting. Once we equip these creatives to launch companies, we find that 80 percent succeed.” Loy’s statistics align with the results of ASU’s own Pave Arts Venture Incubator, which has helped three dozen student teams launch arts-based enterprises since its inception in 2006.
“Having lived in Arizona I know first-hand how creative the state is,” Loy adds, “and the creative economy can be an economic engine for communities from Flagstaff to Bisbee. ASU and Tempe are ground zero for this innovation and can lead Arizona’s creative economy.”
This talk is free and open to the public.