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**Innovation and the Creative Economy: A Focus on Yakutia**
Innovation funds, accelerators, and platforms are increasingly being recognised as key drivers in supporting the growth of creative industries. This is particularly true in Yakutia, a region in Russia, where efforts are being made to foster a vibrant and sustainable creative sector.
The "School of Global Business", established in 2020, serves as a mediator organisation, inviting coaches and trainers to provide courses and resources. This institution has partnered with the British Higher School of Design to offer education and training that aligns with industry needs.
The Regional Standard for Developing Creative Economy, a guide for regions to support creative sectors, outlines 12 steps based in part on Yakutia’s experience. These steps aim to retain "creative human capital" in regions and prevent "creatives" from leaving for other countries.
One example of a successful initiative in Yakutia is the Jewelry-Cutting Cluster "SEIBEM". This cluster fosters collaboration among stakeholders in the jewelry-cutting sector, invests in technology to improve productivity and quality, and helps local businesses expand their market reach beyond domestic borders.
To ensure that these initiatives are effective and avoid the issue of "window dressing", which refers to superficial or cosmetic efforts rather than substantial changes, they must focus on tangible outcomes and sustainable development. This includes establishing clear goals and measurable metrics, maintaining transparency in funding allocation and project outcomes, and prioritising projects that have potential for sustainable growth and contribute positively to the local economy.
Aisen Nikolaev, Head of Yakutia, recently met with the Director of the Center for Creative Economy Development to discuss implementing the Standard in Yakutia. The Standard recommends that regions offer support measures, audits, strategies, and infrastructure for creative industries.
While specific data on the effectiveness of these initiatives in Yakutia is limited, they can be effective in promoting the creative industry if they focus on tangible outcomes and sustainable development. The "School of Global Business" and the Jewelry-Cutting Cluster "SEIBEM" are examples of such initiatives that can complement each other in fostering a more vibrant and innovative creative sector.
It is worth noting that 55 regions in Russia have already adopted the Standard, and the most famous enterprise in "SEIBEM" is the jewelry brand "Uruu". Despite some confusion in certain creative industries, presentations often depict growth, scaling, and startup launches. However, it is important to address these issues and work towards creating a functional and thriving creative economy in Yakutia.
Businesses in Yakutia can leverage education-and-self-development opportunities provided by institutions like the "School of Global Business" to upskill their workforce and stay competitive in the creative economy. Furthermore, the finance sector could invest in innovative businesses and initiatives in Yakutia's creative economy, such as the Jewelry-Cutting Cluster "SEIBEM", to drive sustainable growth and development.
