Innovation in creative industries

Research Paper (postgraduate) from the year 2009 in the subject Economics - Innovation economics, grade: 1.5, , course: Creative Industries, language: English, abstract: Innovation is defined as the 'introduction of new things or methods' (Dictionary.com, 2009). It is also used by creative industries to create novel and exciting product and it is also a technique employed by creative sectors to improve interaction with audiences, consumers as well as each other sectors across all industries.The ways in which innovation enhance and sometimes limit the creative industries were discussed at length at the Creative Capital Conference, held in Amsterdam in 2005. This event was organised by an initiative known as Knowledgeland, a 'network of government, private sector, knowledge institutions and civil society to think about the consequences of the knowledge economy and how to respond to it as a society' (Kennisland, n.d). Four main thematic areas were analysed at length, each representing focus points on how aspects of creative industry operations contribute to Creative Capital: Creative Crossovers, Creative Clusters, Creative Cities and Creative Public Domain. Using these four areas as a basis of analysis, it is the objective of this paper to demonstrate through examples how innovation is used to advance Creative Capital across the globe.Firstly, it is fundamental to clearly define what innovation means to the creative industries and what exactly Creative Capital is.