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Elisabetta Lazzaro
University for the Creative Arts

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Chapter
Published: 01 April 2021 in Development and Implementation of Health Technology Assessment
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The rapid emergence of donation and reward crowdfunding for cultural and creative projects and ventures (CCCF) points to many benefits and barriers. Appreciating these benefits and barriers with a view of regulating crowdfunding’s operations and growth is central to promoting sustainable development and entrepreneurial processes. We first present and discuss the major benefits (lower transaction costs, broader geographic distribution of financing, better market research data, and, hence, higher odds of later commercializing the product and attracting more traditional venture capital, democratization, and cocreation and peer-to-peer innovation) and barriers (information asymmetries, moral hazard, favoring superstars, and discrimination). We explain CCCF’s main reasons for its untapped potential. A key role is played by national regulatory frameworks differently binding or supporting a cultural entrepreneurial ecosystem. We then outline the major areas over which regulatory action ought to be expected, including taxation and matching subsidies, consumer and investor protection, and information provision. As in most of these areas, public policy specific to CCCF is relatively underdeveloped, we discuss critical design features and identify how efficiency and equity might be affected by policy. We finally recommend key policy priorities toward a harmonized, balanced, and supportive regulation and suggest directions for future research in this emerging arena.

ACS Style

Elisabetta Lazzaro; Douglas Noonan. The Contribution of Crowdfunding Regulation to Cultural Entrepreneurship in a Supportive Ecosystem. Development and Implementation of Health Technology Assessment 2021, 401 -424.

AMA Style

Elisabetta Lazzaro, Douglas Noonan. The Contribution of Crowdfunding Regulation to Cultural Entrepreneurship in a Supportive Ecosystem. Development and Implementation of Health Technology Assessment. 2021; ():401-424.

Chicago/Turabian Style

Elisabetta Lazzaro; Douglas Noonan. 2021. "The Contribution of Crowdfunding Regulation to Cultural Entrepreneurship in a Supportive Ecosystem." Development and Implementation of Health Technology Assessment , no. : 401-424.

Journal article
Published: 21 January 2021 in Sustainability
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In recent years the importance of the creative economy has also characterised the international higher-education sector through specialised education, research and entrepreneurship. In this paper I apply and discuss the concept of spillovers as a relevant theoretical framework to understand and foster the value generated by university programs in the creative economy. After introducing the main concepts of spillovers in relation to innovation and growth, I discuss the recent developments in the research on spillovers applied to the arts, culture, and creativity. Through a contextualised model of academic creative economy, the analysis is combined with that on knowledge spillovers in higher education and universities’ third mission, to fill a research gap that still exists in creative economy programs and their potential to generate creative spillovers. The study further integrates some more recent literature on university spillovers, which can provide useful methodological suggestions especially oriented toward internalising and enabling positive creative spillovers, in particular in an urban context.

ACS Style

Elisabetta Lazzaro. Linking the Creative Economy with Universities’ Entrepreneurship: A Spillover Approach. Sustainability 2021, 13, 1078 .

AMA Style

Elisabetta Lazzaro. Linking the Creative Economy with Universities’ Entrepreneurship: A Spillover Approach. Sustainability. 2021; 13 (3):1078.

Chicago/Turabian Style

Elisabetta Lazzaro. 2021. "Linking the Creative Economy with Universities’ Entrepreneurship: A Spillover Approach." Sustainability 13, no. 3: 1078.