Start-up competition Creative Business Cup for the first time in the Czech Republic

Czech start-ups active in the field of creative industries may sign up to the worldwide competition called Creative Business Cup (CBC) and get the chance to win a bonus of 15 000 EUR for the first time ever. The main objective of the competition is to connect entrepreneurs in creative industries with investors and global markets, enhance their skills and develop interdisciplinary innovation. The competition begins on May 16.

The national round of the competition is opened to all entrepreneurs in the cultural and creative industries such as design, fashion, film, photography, gastronomy, leisure, music, radio, television, software, toys, gaming and more. The winner will represent the Czech Republic at the world's finals in Copenhagen during the Global Entrepreneurship Week (13.-15. November 2016).

The Czech organizer, which is a consortium consisting of Art Institute – Theatre Institute (IDU), Aspen Institute Prague and European Leadership & Academic Institute (ELAI), has decided to support not only emerging projects, but also point out the increasing significance of creative industries.

"The creative industries around the world contribute significantly to growth, employment and development of new and innovative solutions to the challenges that economy and society are currently facing. Business activities of cultural and creative industries have a great impact on employment, interdisciplinary innovation and competitiveness of national economies," says Eva Žáková from the Art Institute – Theatre Institute.

According to the study of IDU and Technology Agency of Czech Republic cultural and creative industries contributed approximately 2,3% to GDP in 2014. Expenses on research and development in the cultural and creative industries are enormous. In 2012 these industries spent on it more than 8 billion CZK. It is almost the same amount as the automotive and machinery industries spent all together in the same year.

The competition runs from May 16 to June 30. A jury composed of representatives of the consortium, Impact HUB, Czech Invest and the JIC will select the winner of the national round by the end of August. More information and competition conditions at www.CreativeBusinessCup.cz.

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