California Creative Finance Network Launches to Unlock Capital Access for the State’s Creative Economy
On June 27, state leaders, capital innovators, and creative economy trailblazers gathered in Sacramento to officially launch the California Creative Finance Network—a new statewide initiative designed to expand access to capital for creative entrepreneurs, artists, cultural institutions, and creative small businesses.
Led through a collaboration between Creative Startups, the California State Treasurer’s Office, CLTRE, the California Arts Council, the City of Sacramento Office of Arts and Culture, California for the Arts, and UCLA, the launch event brought together more than 60 participants for a day of dynamic discussions, collaborative problem-solving, vision-setting, and strategy building at UC Davis’s Aggie Square.
The tone for the convening was set by a keynote from CA State Treasurer Fiona Ma, who underscored the importance of the state’s creative economy, highlighting that the sector has generated nearly $20 Billion in tax revenue and supported nearly 1.8 Million jobs in 2021 alone. She also acknowledged that despite the power and scale of creative industries, a persistent gap remains between creatives and access to capital, noting that many existing financial tools simply aren’t designed to meet the unique needs of creative ventures. Watch the full keynote here.
“By pooling the experience and expertise of public agencies, private investors, and creative leaders, we are creating a statewide movement to close the capital gap in our creative economy,” said Treasurer Ma. “Through the Creative Economy Finance Network, we are reimagining how capital can work for creatives, so talent, not financial barriers, determine opportunity.”
The participants represented a diverse mix of creative entrepreneurs, capital allocators, policy leaders, artists, advocates, and educators. Facilitated by Creative Startups, the convening was designed as an active working session— eschewing traditional expert panels— to leverage the deep expertise in the room. Attendees were encouraged to come curious and inventive, with an open mindset focused on building a shared sense of purpose, direction, and concrete next steps for the Network.
Creative Startups Co-Founder and Strategic Advisor Dr. Alice Loy set the discussions in motion, drawing on tools and methodologies the organization has honed through years of designing strategies and leading initiatives that strengthen creative economies across the U.S.— such as the New Mexico Creative Industries Division Study, the Potential Pathways to Growing Sacramento’s Creative Economy report, Colorado’s Creative Economy Analysis Report, and more. These initiatives, focused on access to capital, entrepreneurship infrastructure, and culturally grounded policy development, informed the convening’s structure and goals, anchoring the event in real-world momentum and scalable solutions.
“Drawing on lessons from our work across the country, we know that lasting change happens when we combine deep expertise with genuine collaboration. The energy in the room was proof that when creatives and capital leaders come together, we can design financial systems that actually work for everyone,” said Creative Startups Executive Director, Dr. Brianna Figueroa. “The Creative Finance Network is just getting started, but the commitment we saw on day one gives me so much hope for what’s ahead.”
As California’s creative sectors face increasing pressure from shifts in technology, shrinking federal support, and volatile economic markets, the Network offers a timely and necessary approach. Building on the momentum of the June launch, the Network will now turn its focus to a series of strategic actions over the next 12 to 18 months designed to build a stronger, more responsive capital ecosystem for creative industries across the state.
Planned activities include:
Conducting a landscape analysis to identify existing sources and instruments of financial capital— public, private, philanthropic, and government— that currently fund the creative sector.
Reviewing models from other fields, such as conservation, public health, affordable housing, and startups, to adapt innovative financing tools for creative economy use.
Surfacing challenges and solutions by engaging directly with creative entrepreneurs to understand financial pain points and spotlight effective capital strategies.
Creating and sharing new knowledge through accessible, creative communications and collaborative development of new financial instruments and pathways to capital.
Convening impact leaders— from CDFIs to investors to policymakers— for continued statewide dialogue and relationship-building.
Developing a Capital Innovation Agenda, outlining actionable goals, strategies, and tools that communities can begin piloting and scaling in their own regions.
Through continued collaboration, research, and pilot efforts, the California Creative Finance Network will work to ensure that creative communities across the state—urban and rural, established and emerging— have the resources they need to grow and thrive.
ABOUT CREATIVE STARTUPS
Creative Startups, based in Santa Fe, New Mexico, has a proven track record developing economic strategies and programs leading to measurable economic growth in the creative industries. At the forefront of the creative economy for 15 years, Creative Startups develops strategic plans for regional governments, supplies in-depth economic analyses of assets and market opportunities, supports cultural and Tribal institutions, and develops and delivers innovative programs for creative entrepreneurs and artists. Through their work across New Mexico, the USA, and the world, Creative Startups has developed a comprehensive understanding of the technologies and trends driving the remarkable expansion of creative industries.