A pioneering scheme to help UK creative businesses forge links with foreign markets has been awarded £5m of launch funding by the Government.
The Creative Capital – World City initiative will be run by a consortium of London colleges led by the University of the Arts London, together with London Business School, the School of Oriental and African Studies and King’s College London.
According to Keith Bardon, Pro-Rector for Research and Enterprise at UAL, the scheme will launch with five overseas Creative Business Centres, in Beijing, Shanghai, Hong Kong, Mumbai and Delhi. It will also create partnerships with foreign businesses, including Indian conglomerate Tata Group and global consulting firm Deloitte. It aims to help UK businesses ‘secure a larger slice of the $1.3trn (£690bn) global market for creative industries’.
‘This is core to our operations at the university and follows work we’ve already done with the creative industries,’ says Bardon. ‘We are not prescriptive about [the businesses] we will work with, although it is likely to be small-to-medium-sized companies.’
UAL will also set up The Observatory, a research and intelligence office based at the London College of Communication, and a project headquarters at UAL.
The £5m award was allocated by Trade and Industry Secretary Alistair Darling through the Higher Education Innovation Fund.
It will fund the project for two years, after which it will be ‘self-sustaining’.