Creative economy shifts from subsidies to venture readiness
BAKU, Azerbaijan — At GEC+Baku 2026, an official side event of the 7th World Forum on Intercultural Dialogue, international experts gathered for a high-level panel titled "INVEST2CREATE: Business Support In The Creative & Cultural Industries."
As creative economies shift from traditional cultural preservation toward high-growth economic drivers, the panel addressed actionable frameworks for building scalable ecosystems, attracting private equity, and establishing sustainable financial models for creative entrepreneurs.
Framing the opportunity: Beyond traditional grants
Moderator Leyla Bagirzade, founder of the Global Oracle Association for Leaders (GOAL), set the direction for the session. She emphasized that creative industries can no longer rely solely on philanthropic or governmental grant structures to scale effectively.
"The creative economy is no longer a soft secondary sector; it is a vital engine for sustainable innovation and economic resilience," Bagirzade said.
"Our mission today is to shift the narrative from subsidy reliance to venture readiness, building structured bridgeheads where creative vision meets institutional capital."
Institutional backing and development finance
Addressing structural financing gaps in developing economies, Sanan Shabanov, senior private sector development officer at the Asian Development Bank (ADB), detailed how multilateral development banks are restructuring risk assessments to better accommodate intellectual property-led creative enterprises.
"Development finance institutions are recognizing Intellectual Property as a viable asset class," Shabanov said.
"By derisking private investments through blended finance mechanisms and technical support programs, ADB aims to foster an environment where local creative talents can secure sustainable funding and expand across regional borders."
Venture readiness and commercial viability
Bringing a private investor perspective to the discussion, Tal Catran, managing partner at İ2C Investment House, highlighted common pitfalls creative founders face when pitching to venture funds.
"Investors do not buy into creative concepts alone; they invest in scalable business models, sound financial discipline, and strong operational teams," Catran said.
"Creative founders must speak the language of metrics, ROI, and market positioning if they want to transform artistic talent into profitable, investable ventures."
Infrastructure and hub ecosystems
Focusing on the physical and digital infrastructure required to support high-growth creative startups, Maxat Kikimov, chief executive officer of Data Edge Creative Park, shared insights from Central Asia's expanding tech and creative hubs.
"Building specialized hubs like Data Edge Creative Park provides startups with more than just shared workspace," Kikimov said.
"It creates a collaborative ecosystem where tech developers, digital artists, and storytellers access advanced infrastructure, specialized mentorship, and direct avenues to commercial clients."
A global architecture for creative entrepreneurs
Closing the discussion, Marc Ortmans, co-founder and global leader for the United Kingdom at the Global Entrepreneurship Network (GEN), reiterated GEN's commitment to integrating creative founders into the broader startup ecosystem.
"Cross-border collaboration is the ultimate force multiplier for the creative economy," Ortmans said.
"Through initiatives like INVEST2CREATE and the Global Entrepreneurship Network, we are establishing global pathways that empower creative founders to access international capital markets, cross-border mentorship, and policy support."