The creative economy is an attractive growth industry for development. According to data from organizations such as World Bank and OECD, the creative industry accounts for US$3 trillion a year global economy, where creative products today account for 50% of world consumption.
The British Council has addressed the potential of this growth industry with the Young Creative Entrepreneur (YCE) Award, which run since 2005 as a national and international competition that recognizes the role entrepreneurs play in connecting creativity to their market.
The International Young Creative Entrepreneur Award (IYCE) finds the brightest international stars in design, fashion, interactive and screen entrepreneurs from around the world. It recognizes the importance of entrepreneurs in driving forward the creative industries, developing their independent sector and representing the best of what's going on in their local scene. Since 2005, over 2,500 entrepreneurs from more than 52 countries have taken part in the programme, building an active alumni network in the process, seeing the creation of new collaborations and business, co-designed lines/connections, increased profiles and participation at international design festivals and fashion weeks around the world.
Since 2006, IYCE Awards have engaged over 600 creative entrepreneurs across Indonesia. The country is now the world record holder with 6 international awards in the last 5 years. This has generated interest for creative and business partnership and collaboration from the UK.
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