The first ever UK Creative Industries Trade and Investment Board (CITIB) strategy has been published today, pledging to boost creative industries goods and service exports by 50 per cent by 2023.
The New export strategy will increase creative industry exports by 50 per cent, with global opportunities for innovative UK based creative industry companies.
The CITIB was set up following the launch of the £150 million Creative Industries Sector Deal – part of the Government’s modern Industrial Strategy. The UK’s thriving Creative Industries are now worth over £100 billion to the UK economy and the Board will amplify this success around the world.
As a result of £1 million additional government funding CITIB members have already helped to promote the UK’s creative sector in 10 countries including China and the United States, generating a pipeline of more than £200 million of export opportunities. More than 250 UK companies have also been supported in developing their own export strategies.
Referencing the industry led strategy at the Createch conference as part of London Tech Week, Digital and Creative Industries Minister Margot James said:
“The UK’s booming Creative Industries are a real success story, with the sector contributing more than £100 billion to the economy. We are delivering a Britain that works for everyone, and by sharing our skills and expertise with the rest of the world this strategy will give us the chance to deliver more growth opportunities in the years ahead.”
The strategy has identified five key strategic markets that should be prioritised in the years ahead – China, USA, Europe, Middle East and Japan.
Minister for Investment, Graham Stuart, MP said:
“The new strategy is about taking the phenomenal exporting success of our world leading creative sector and turbo-charging it further. There’s a role for Government in helping British businesses grow their sales and the Department for International Trade exists to do precisely that.”
Annette King, Chair of the Creative Industries Trade and Investment Board said:
“The UK is a world leader in the Creative Industries thanks to both the wealth of talent we have here, and that we attract from across the globe. By continuing to build on the success of our small businesses this strategy begins a new stage in our industry’s relationship with Government, where we work together to drive the success of our vibrant and exciting industry.”
The Strategy is being published alongside the Creative Industries Council’s (CIC) top 50 Createch companies ‘ones to watch’ report. The new list showcases the top 50 promising UK based companies and organisations that experts think will deliver new products, services and experiences through cutting edge creative technology.
It includes a range of companies, from those that are helping to immerse audiences into new worlds through virtual reality, those using Artificial Intelligence to improve manufacturing and those using 3D technology to create new displays.
During her speech today, Digital Minister Margot James will be test driving the technology of one of the companies, VRJAM, which supports artists and audiences in creating extended reality events – placing the audience inside the heart of the action.
Chair of the Creative Industries Council Tim Davie said:
“The UK is world class for brilliant creative talent and technological expertise and Createch2019 is an exciting opportunity to explore the boundless possibilities presented by the interaction of the two sectors. The publication of the ‘Ones to Watch’ report provides outstanding examples of companies of all sizes from across the country who are breaking new ground in this area and changing our lives.”
Under the ‘Immersive entertainment AR/VR’ category of the Top 50 Createch ones-to-watch, long-time UK Screen Alliance members Double Negative and Framestore among those listed. The ‘Transformative Experiences XR/MR’ category features Ealing-based Imaginarium Studios.
The CIC Createch top 50 ones to watch report has been compiled by innovation research specialists Springwise with support from London & Partners, Digital Catapult and the GREAT campaign. The report can be found here.
The CITIB strategy can be found here.
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