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Supporting a Creative Economy Through Impact Investing, Social Entrepreneurship, Equitable Systems and More

SOCAP Global May 27, 2021

These Resources Can Help Members of the Impact Economy Empower Artists and Creatives

When people think of the economy, creativity and artwork aren’t often top of mind. And yet creatives have a lot to offer the impact economy, whether it’s providing unique perspectives on our modern challenges, making spaces feel more vibrant through artwork and performances, or giving voice to communities that are too regularly overlooked. Each of these actions can instruct members of the impact economy on how they can continue advancing toward a more equitable economy.

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Throughout the month of May, SOCAP has been sharing resources to help members of the impact economy empower artists and creatives. These resources highlight voices from the impact community and the creative world, providing a platform for the many perspectives involved in strengthening the creative economy. Check them out below to learn more! Also, consider attending SOCAP21 Virtual, Oct. 18-22, where we are adding perspectives from artists and culture makers across our themes and discussions.

Creativity Is Becoming More Important as the Way We Work Changes

Artists are hailed and given stature for the art they make: a musical composition, a performance piece, a painting, a poem. However, artists are also masters of process, uniquely gifted to understand how to engage deeply in their communities, how to guide inquiry, how to lift up unseen cultural assets and unheard voices. Artists frequently are gifted technologists and scientists, using their skills across multiple disciplines to design the future of work.

Read more and watch the session.

Facilitating a Just, Equitable and Creative Economy with Intentional Investments 

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In the wake of the Purdue Pharma scandal, which revealed that the Sackler family was illegally marketing opioids and pushing doctors to prescribe more of them, funding of the art world came into focus. That’s because the Sackler family had donated money to many artistic and cultural institutions around the world, which now seems to have been a strategy to cast the family in a more positive public light.

Read more and watch the session.

Investing in Arts to Support and Uphold Public Health 

There is an increasing body of data that shows the importance of arts and culture to our health and wellbeing. Many cultures have long understood the power of art in healing, and there is clear evidence that our health is improved through social cohesion, a sense of belonging, our civic engagement, and other social determinants. A SOCAP20 Virtual session focused on how we can more thoughtfully invest our resources toward these goals and in ways that improve community health holistically.

Read more and watch the session.

Marc Bamuthi Joseph performance for SPECTRUM 2020

Marc Bamuthi Joseph closed out SPECTRUM 2020 on the last day with a powerful performance about the systematic racism plaguing the country.

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Read or listen to the performance.

Investing in the Creative Economy: Episode 38 of Money + Meaning

Laura Callanan and her organization Upstart Co-Lab are working to convince more investors that they have a tremendous opportunity to drive impact through investments in the arts, culture, design, and heritage-based businesses that make up the creative economy. Upstart Co-Lab has amassed data that shows this part of the economy encompasses 145 industries, is valued at $804 billion, and generates 10 million jobs. Providing values aligned capital to these innovative businesses, Callanan says, can create positive social and environmental impact across portfolios.

Read more and listen to the podcast.

Arts, Culture and the Creative Economy / Impact Investing / Social Entrepreneurship
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