Five Trends Shaping the Future of Work and Creativity in Vermont

VCDA Winter Conference

December 11, 2013

“Between the Tigris of I-91 and the Euphrates of Rt 7”

The Office of the Creative Economy exists to connect Vermont’s innovators and entrepreneurs, measure and promote a healthy creative ecosystem, and mobilize resources across Vermont’s creative sectors.

Film and New Media

Advertising and Marketing

Software and Game Development

Manufacturing Arts

Arts and Cultural Organizations

* Architecture, Publishing, Music

Pop Quiz

!

About how many jobs in Vermont are in the creative sector?

2,600 arts-related businesses in Vermont create 8,000 jobs.

That does not include independentworkers and freelancers, another

roughly 2,300 workers.

How much was raised in Vermont through Kickstarter in 2013?

$660k

$1m

$660k

$540k

Between what the Arts Council and Vermont Community Foundation give

Finally, how many of you have participated in one or more of the following...

Five filters to view the creative economy

Independent workforce

The DIY makers

New forms of finance

The new workplace

A networked ecosystem

Independent

Workforce

The independent workforce is composed of contractors, freelancers, consultants, and micropreneurs who choose self-employment over stable, full-time employment on a career path.

Source: MBO Partners 2013

Implications for what we measure, the support mechanisms we create

DIY Makers

A makerspace is a community-operated workspace where people with common interests, often in computers, technology, science, digital art or electronic art, can meet, socialize and or collaborate.

Source: ArtisansAsylum.com

40,000 square foot warehouse Around 250 monthly members140 studios45 pallet storage unitsOver 80 shelf storage units available for rent

Artisan’s Asylum

Implications for innovation pathways, product development, skills development and transfer

Crowdfunding

Crowdfunding is a method by which anyone can raise funds from many individual donors by leveraging the power of networks.

Global market of $300B in 2013

LendingClub: debt financing at $1B

Kickstarter: equity financing at $700M

Value of all SBA microloans <$100k was $138B

Source: SMB Blog

Implications for finance landscape - charity, debt, and equity - and

business support

Coworking

Coworking is an answer to the question,How can we help entrepreneurs and creatives connect, grow their ventures, and foster startup communities?

Break isolation, foster networksEstablish presence, increase productivityIncrease density, generate ideas and value

Benefits

530 coworking spaces across the U.S.

25,000 coworking members(Average is 41 members per coworking space)

7 spaces in Vermont(Three in Burlington, others in Middlebury, Brattleboro, Montpelier. New ones coming online)

A movement

”“Coworking has revitalized my one-woman

business. I feel more productive and far less isolated. It's given me a work community--something that, as a freelancer, is not naturally built in to my life.

* Local 64 member survey, November 2012

Implications for downtown development, business mentoring and support pathways, fostering density

Networked

Ecosystem

Growth support

Startup finance and support

Idea generation and concept development

A layered ecosystem...

Economic GrowthIncentive

Procurement TechnicalAssistance

For discussion...

What does the creative economy look like in communities where you work?

What opportunities are you seeing to advance the creative economy in the communities where you work?

What barriers do you see that hinder or thwart your efforts to advance the creative economy in communities where you work?

Thank YouLars Hasselblad Torres

802-917-1788lars.torres@state.vt.us

@VermontOCE