Creative Startups 2016-2017 Impact Report

IMPACT REPORT
Assessing the Effectiveness of the
Creative Startups Accelerators
2016

This report was made possible by the generous support of E. M. Kauffman Foundation
and the New Mexico EPSCoR National Science Foundation (award #11A-1301346).
Any opinions, findings, conclusions, or recommendations expressed in this report are those of the authors and
do not necessarily reflect the views of the E. M. Kauffman Foundation or the National Science Foundation.
Copyright Creative Startups 2017

THE MENTORING & TEACHING
A T C R E A T I V E S T A R T U P S
WA S S E C O N D TO N O N E .
WE WORKED ONE-ON-ONE WITH
VISIONARY GLOBAL LEADERS
& NOW I AM TRULY READY TO
GROW MY CREATIVE BUSINESS.
- Creative Startups 2016 Alumni
“
“

CONTENTS
Acknowledgments iv
Sponsors iv
Report Summary v
THE CREATIVE ECONOMY 1
The Global Creative Economy 2
Creative Industries & Entrepreneurs 4
A Significant & Unmet Need 5
Startup Accelerators 6
ANACCELERATOR FORCREATIVES 7
An Accelerator for Creatives 8
Opportunity for Broader Impact 9
Global Startups & Accelerators 10
Key Needs of Creative Entrepreneurs 12
PROGRAM COMPONENTS 13
Applications & Cohort Selection 14
Course & Curriculum 15
Deep Dive & Mentoring 16
PROGRAM EVALUATION 17
Measuring Effectiveness 18
Methods & Measures 19
ACCELERATOR COHORTS 20
Demographics 21
Cohort Needs & Knowledge Gaps 23
ACCELERATOR OUTCOMES 24
Startup Ecosystem for Creatives 25
KEY ACCELERATOR OUTCOMES 26
Knowledge Gained 28
Professional Networks 29
Increased Self-Efficacy 30
Jobs, Investment, & Revenue Growth 31
Mentoring 32
Winston-Salem Site Outcomes 33
PROFILES IN SUCCESS 34
Meow Wolf 35
Etkie 36
Embodied Labs 37
Native Realities 38
FUTURE DIRECTIONS 39
Launch a Creative Startups Accelerator 40
Lets Work Together! 42
Connect 43
References 44
Additional Resources 46
v
creativestartups.org

The success you read about
in this report has been made
possible by the team of mentors,
donors, investors, and startups
who joined with Creative Startups
to build this initiative. Much of the
most impactful work is carried
out by our team of 70+ mentors
who give their time and energy
because they are passionate about
entrepreneurs. The majority of our
mentors are entrepreneurs and
investors themselves and therefore
know well the challenges startups
face. These exceptional individuals
have indelibly impacted the lives
of founders and staff as well as
the creative economy and we are
profoundly grateful.
The Creative Startups Accelerator
is also made possible by the
generosity of individuals, like
you, who are passionate about
innovation and creativity.
Additionally, we receive support
from sponsors and foundations who
share our vision for a dynamic,
inclusive economy.
The many founders who have
joined the global Creative
Startups community receive our
lasting appreciation; their grit
and determination is matched by
their creativity and passion. Our
communities reap the benefits of
their hard work.
The positive impacts detailed in this
report belong to the entrepreneurs,
mentors, investors, and funders
who work tirelessly to build thriving
communities. We are honored to be
a small part of this success story.
INVESTORS
Fleischaker Women’s
Legacy Fund
dsire
Submittable
Bernalillo County
Kenan Institute for the Arts
Arts Council of Winston-
Salem and Forsyth County
ANGLES
Santa Fe Brewing
Writer Gals
Hub International
Gear Up
Hotel Andaluz
The Atrisco Companies
Peacock Myers
The City of Winston-Salem
Shuyi Mo Infinite Studios,
Singapore
F. H. Kenan Institute of Private
Enterprise
CATALYSTS
Wake Forest Innovation Quarter
Mr. and Mrs. Richard D. Moss
BB&T
Flow Auto
Inmar
Kilpatrick Townsend
Wells Fargo
Winston-Salem Millennium Fund
David and Mary Mounts
Mr. Paul Fulton Jr.
Excalibur
Flywheel Coworking
Salem College
SponsorsAcknowledgments &
vi
VISIONARIES

Given the clear, significant,
and positive impacts of
creative entrepreneurs, and the
near lack of startup resources for
creatives globally, we launched the
groundbreaking Creative Startups
Accelerator,
designed
by and for
creative
entrepreneurs.
The
Accelerator
addresses this
resource gap
by providing
participating founders access
to new knowledge, skills, and
networks. The program increases
the self-confidence of creative
founders by building their capacity
as entrepreneurs.
2016 marked the third year of our
Accelerator Program. Since its
inception in 2014, the Accelerator
has shown positive impacts on
participating startups.
In 2016 we launched the Creative
Startups Accelerator
Network. We license the
Accelerator program to Site
founders who build successful
Programs in their region. Creative
Startups Sites bring new regions
into the
Network,
expanding our
impact and
the benefits to
communities
multiply. This
report details
the outcomes
achieved to
date by all of the participants
of each of the four cohorts and
discusses future directions for the
Creative Startups Accelerator.
Report Summary
NEW JOBS
CREATED
SINCE 2014
144
MILLION
RAISED BY
STARTUPS
$6.5STARTUPS
STILLGOING
STRONG
90%
$7.9 MILLION
IN NEW
REVENUES
vii
S
U
M
M
A
R
Y
THIS EXPERIENCE IS ONE I WILL NEVER FORGET IN MY LIFE.
IT HAS MOST IMPORTANTLY TRIGGERED THE
NEXT STEPS OF WHAT NEEDS TO BE DONE! A
BIG HEARTFELT THANK YOU CREATIVE STARTUPS!
“
“

THE
CREATIVE
ECONOMY
Impact Report 2016

Communities around the
world are experiencing
unprecedented economic
disruptions as digital technologies
proliferate and efficiencies in global
markets expand. The digital
economy has risen quickly
as a major driver of global
markets.
Demand for creative
goods and services is
growing by leaps and
bounds. Startups in the
creative industries increasingly lead
economic opportunities for regions.
Today’s creative entrepreneurs
are “creative tech” entrepreneurs
utilizing digital tools to explore,
create, collaborate, market,
sell, and distribute their creative
works. Musicians, filmmakers,
designers, architects, artists, chefs,
GROWTH
IN TRADE OF
CREATIVE GOODS
& SERVICES
8.8%
MILLION
PEOPLE EMPLOYED
GLOBALLY IN
CREATIVE INDUSTRIES
30
and craftspeople all utilize digital
technologies, bringing global
markets to their doorstep.
The explosion of the creative
economy is a natural outcome of
the confluence of rising incomes
and increased creative exchange,
globally. Art and culture easily
move across digital platforms,
increasing demand for unique
goods, services, and experiences.
Companies in the creative economy
provide economic-base, high-wage
jobs while retaining competitive
advantages that stem from
place-based/cultural intellectual
property. Multiple reports and
data sets substantiate the positive
impact of creative companies
and sectors on regional
development. According to
UNESCO (2013), cultural
and creative industries
produced revenues of
$2.25 trillion in 2013.
Additionally, 29.5 million
people are employed
in the global creative economy.
By nation, growth in the creative
economy ranges between 4% to
12% annually, and this 2013 data
shows that world trade of creative
goods and services enjoys an
average annual growth rate of
8.8%. Growth in exports of creative
goods from developing economies
has been even stronger, averaging
12.1% annually.
TRILLION
& GROWING
GLOBAL CREATIVE
ECONOMY REVENUES
$2.2
THE GLOBAL CREATIVE ECONOMY: Is Big Business
HUMAN CREATIVITY AND INGENUITY
HAVE NEVER BEEN MORE ESSENTIAL TO THE
ECONOMICWELL-BEINGOFCOMMUNITIES.
2

Finally, the creative industries grew
globally throughout the Great
Recession despite downturns in
manufacturing, construction, and
high tech.
An UNESCO Cultural Times
report (Lhermitte, Perrin, & Blanc,
2015) highlights how development
projects that focus on building
creative and cultural infrastructure
act as a catalysts for strengthening
local identity and building the
economy. This type of creative
placemaking attracts tourism and
appeals to a more highly skilled
and talented work force which
leads to more livable cities with a
larger demographic of creative,
active and engaged citizens.
Despite the data and evidence
demonstrating the positive economic
impact of creative entrepreneurs
and their ventures, “creatives”
continue to be overlooked as
drivers of economic opportunity
and wealth creation.
Equally important, creative
entrepreneurs are often discounted
as social change catalysts who
bring diversity and economic
inclusion to their communities.
Creative expression has long been
at the forefront of social
innovation and social change.
Creative entrepreneurs build
the companies and organizations
that bring creative expression to
markets, leveraging the efficiencies
of markets to broaden their reach
and serve more people with their
products and services.
Entrepreneurs build what’s next.
Investing in and supporting
creative entrepreneurs ensures that
what’s next will be communities
that embrace creativity, diversity,
economic inclusion, and market-
based approaches to social
challenges.
CREATIVE INDUSTRIES
Advertising
Animation
Architecture
Apps (for creative industries)
Crafts and Artisan
Creative Sector R&D
Culinary
Education Tech
3d Printing (for creative products)
Digital Design
Graphic Design
Industrial Design
Product Design
Planning/Design
Fashion
Film
Museum Tech
Music
Performing Arts
Photography
Publishing
Software (for creative industries)
Studio & Fine Arts
Toys & Games
TV & Radio
Video Games
Virtual & Augmented Reality
C R E A T I V E E X P R E S S I O N H A S L O N G
B E E N A T T H E F O R E F R O N T O F
SOCIAL INNOVATION & SOCIAL CHANGE.
3
E
C
O
N
O
M
Y

TOTAL VALUE OF VC BACKED EXITS 2014 & 2015
Wherever creativity, digital
media, and artistic
expression thrive, creative
entrepreneurs are actively
building businesses. Notable
entrepreneurial successes in
the creative economy include
companies like Etsy, Netflix,
Pixar, and Flickr. Iconic creative
entrepreneurs include Guy Laliberté
(Cirque du Soleil), Beyonce
(musician), and Calvin Klein
(fashion).
CREATIVE INDUSTRIES & ENTREPRENEURS
DESPITE CONTRIBUTING $2.2 TRILLION
T O T H E G L O B A L E C O N O M Y, C R E A T I V E
ENTREPRENEURS STRUGGLE TO FIND SUPPORT.
Investors are awakening to the
potential of creative companies.
Current data on VC-backed exits
show that three of the ten highest
exits for 2014-2015 were creative
companies (Kosoff, 2015; Loeb,
2014). All three use digital
technologies in all aspects of their
businesses.
$22.0
Total VC Backed Exits:
All Industries
$91.5 billion
Total VC Backed Exits:
Creative Industries
$31.8 billion
Top VC Backed Exits:
Creative Industries
$91.5
$3.1 $2.0
$2.0
$1.5
$1.2
in $billions
Whatsapp
Datalogix
Lynda
Oculus
Seamless
Go Pro
$31.8
4

A SIGNIFICANT & UNMET NEED
Creatives are highly skilled in
creative domains but often
have less knowledge and skills in
finance, operations, or marketing.
Regardless, examples of successful
creative entrepreneurs abound. Yet,
to date, the vast majority of creative
entrepreneurs--and the enormous
untapped economic and creative
potential they harbor--have been
mostly overlooked. The lack of
resources available to them reflects
this oversight.
By contrast, the tech startup
ecosystem is saturated with
resources: STEM-related
entrepreneurship degrees are
offered at hundreds of colleges,
tech investment firms are prolific,
and there are thousands of
accelerators, boot camps, and
startup weekends dedicated to tech
startups. The term “tech startup”
is used ubiquitously -- making it
meaningless as a descriptor.
Sector specific recourses are
needed.
Yet, we have identified only four
other accelerators for entrepreneurs
in the creative industries: buildit.ee,
Disney Accelerator, Creative
England, ADMF Creative Media &
Technology Accelerator.
Tech Entrepreneurship Social Entrepreneurship Creative Entrepreneurship
DISPARITY AMONG RESOURCES AVAILABLE TO STARTUPS
T H E T E R M “ T E C H S T A R T U P ” I S
M E A N I N G L E SS A S A D E S C R I P TO R .
5
E
C
O
N
O
M
Y
1,500+ Accelerators 350+ Venture
Capital Firms
200+ Higher Ed
Entrepreneurship Degrees
100+
Impact
Investment Funds
50+
Accelerators
25+ Higher Ed
Entrepreneurship Degrees
20+ VC Firms
4
Accelerators
10+ Higher Ed
Entrepreneurship
Degrees
3
VC Firms

Startup accelerators differ from
small business support resources
in several important ways.
Accelerators are intensive programs
designed for ambitious founders,
determined to build a high growth/
scalable and profitable new
venture. Effective accelerators
SMALL BUSINESS SUPPORTSTARTUP ACCELERATORS
connect founders with mentors,
investors, and market leaders
specific to the founders’ industry.
Mentors are a key element of any
high quality accelerator program
and provide advisement, access
to resources and networks, and
on-going support to founders.
Small business workshops and
trainings can be effective for
founders seeking to incrementally
grow a profitable business. These
programs usually provide a different
type of resource centered on a set
curriculum delivered by an educator
or small business specialist.
STARTUP ACCELERATORS:
• Assume founders seek significant ROI and likely
require investment capital from investors to grow.
• Employ intensive, full time approach to
educating founders about core business areas
and models for business growth.
• Prioritize developing new ventures’ business
models through prototyping, iteration, customer
interaction, and market analysis.
• Host guest speakers addressing key topics,
usually market leaders and highly successful
entrepreneurs. May/may not use set curriculum.
• Rely heavily on global or national networks of
mentors to serve as “faculty” and advisors.
• Provide startup funds to all or some of
participating ventures. Often take equity.
• Cultivate and nurture a wide array of mentors
who provide support and on-going access to
networks and opportunities.
• Accelerate new ventures toward rapid success
or failure. Failure is accepted as normal –
founders cycle back into startup ecosystem.
• Assume business owner aims to build profitable
lifestyle business at an incremental rate.
• Offer courses, workshops, and learning
materials business owners can review, digest,
and apply at their own rate.
• Focus on creating a business plan, often using a
template or defined series of planning steps to
move the owner through the planning process.
• Utilize a set curriculum, often influenced or
developed by a regional SBDC, or higher
education institution.
• Offer trainings delivered by educators or small
business experts from within the community.
• Provide information on financing small
businesses. May link to CDFI’s or similar.
• Provide connections to service organizations
including volunteer business services, higher ed
degree programs, sources for financing.
• Support small business owners to set and
achieve business goals and improve the
business’ sustained profitability.
Inspire Rapid Growth
6

AN
ACCELERATOR
FOR CREATIVES
Impact Report 2016

AN ACCELERATOR FOR CREATIVES
f6s.com, a leading accelerator
news and networking platform,
lists over 1,300 accelerators across
the globe – the vast majority
launched within the past five years.
Startup accelerators employ a
common set of tools to promote
knowledge and skill development,
networking and resource cultivation
among participating entrepreneurs.
As defined by Cohen & Hochberg
(2014) these common elements
include “a fixed-term, cohort-based
program, including mentorship
and educational components that
culminates in a public pitch event or
demo-day.”
Accelerators have proliferated
in the technology sector and are
shaping vast networks of startup
founders who join the ranks of
highly networked, well-schooled
entrepreneurs sharing common
language, methods, and strategies.
As these networks expand and their
reach grows, the social network
effects of accelerators grow, too.
Accelerators not only impact
economic development, they
are becoming the driving force
behind regional efforts to attract
entrepreneurial talent and curate a
vibrant entrepreneur ecosystem.
A 2015 Rockefeller Foundation
study (Monitor Deloitte, 2015)
offers myriad findings for
improving the effectiveness of
startup accelerators. First among
these recommendations is that
communities, “Develop a sector-
specific model,” noting in regard
to accelerators, “a one -size-fits-
all approach is not effective.”
Combining this recommendation
with the knowledge that sufficient
startup resources for entrepreneurs
in creative industries do not exist,
we built the Creative Startups
Accelerator from the ground up,
incorporating best practices from
highly successful accelerators
such as Techstars, Y Combinator,
and 500 Startups. Central to
the Creative Startups model are
mentorship, a rigorous curriculum,
and peer-to-peer learning. We built
all of this specifically for creatives,
based on their unique needs and
opportunities.
8
STARTUP ACCELERATORS ARE EFFECTIVE
PLATFORMS FOR EDUCATING, MENTORING,
AND CATAPULTING ENTREPRENEURS
TOWARD THEIR SUCCESS – OR FAILURE.
A ONE-SIZED-FITS-ALL
APPROACH IS NOT EFFECTIVE.

OPPORTUNITY FOR BROADER IMPACT
Catalyzing Regional
Economic Development
As communities struggle to adapt
to the shifting global economy,
and as entrepreneurial activity in
the US declines (Fairlie, 2013),
accelerators are increasingly
understood to be catalyzing factors
in generating economic activity and
attracting entrepreneurs
to a given region.
The few well known
‘startup capitals’
around the world
attract a majority of
the startup companies. With their
many resources and extensive
support systems they appeal to a
well educated, creative work force
pulling new ventures from other
parts of the country.
Less developed startups ecosystems
have much to gain from launching
accelerators. In addition to potential
increases in a region’s tax base and
available jobs, startup accelerators
can differentiate a region, making
it more attractive to entrepreneurs
building ventures in specific
industries.
Regions that were once passed
over by startups and VC’s are now
attracting companies seeking lower
cost environments, where startup
resources are expanding.
As an example, Village
Capital has launched
a water-technologies
accelerator in New Mexico
and Colorado, two states
where operating costs are lower
and water conservation research
and innovation are endemic. This
differentiation allows regions to
bridge their unique
– and therefore
more sustainably
competitive – assets
and resources with
the innovation
economy. The result
of accelerators, when effective,
is a more robust and competitive
entrepreneurial ecosystem with
linkages among entrepreneurs,
investors, higher ed, economic
development, and outside markets.
Graphic adapted from startupblink.com
1-100
100 - 1000
1000 - 5000
5000 +
STARTUPS LAUNCHED: SOUTHWESTERN USA
A
C
C
E
L
E
R
A
T
O
R
9
STARTUP ACCELERATORS GENERATE
OPTIMISM ABOUT THE ENTREPRENEURIAL
P O T E N T I A L O F A R E G I O N .

GLOBAL STARTUPS & ACCELERATORS
TECH ACCELERATORS
STARTUPS
Graphic adapted from startupblink.com
CREATIVE ACCELERATORS
5-
15K
1
<100
<1K
<5K
CREATIVE STARTUPS SITES
10

KEY NEEDS OF CREATIVE ENTREPRENEURS
Creative entrepreneurs building
new ventures face many of
the challenges entrepreneurs in all
industries face: market opportunity
assessment and access, business
model development, raising
investment, and gaining traction
with customers. Differences
between creative entrepreneurs
and those in other sectors may
primarily stem from their educational
and professional experiences.
Many creative entrepreneurs
majored in film, music, fine
arts, photography, architecture
or design. Their professional
experiences are grounded in
creative practices. Their interactions
with “entrepreneurship” as a field of
study and practice may be limited.
To effectively meet the needs of
creative founders, our Accelerator
is challenged to provide founders
with access to new language and
vocabulary, knowledge, skills and
networks, as well as connections
to financiers and investors, market
leaders, and distribution channels.
Additionally, our Accelerator
needs to boost creative founders’
self-confidence as entrepreneurs
and businesspeople. This self-
confidence is essential to any
entrepreneur who will be faced with
myriad challenges and setbacks.
Measuring how well accelerators
succeed in meeting this tall order
is a growing area of focus in
entrepreneurship scholarship. This
report details Creative Startups’
accomplishments and shortfalls
along these lines.
Before we review our program
outcomes and impacts we will
review our Accelerator program’s
components, including marketing,
curriculum, mentoring, and
evaluation methodology.
Graphic adapted from Cohen & Hochberg, 2014.
12
Startups’ Key
Needs:
• Knowledge
• Skills
• Networks
Market
Validation
thru Customer
Research
Strategic
Market Entry
Business
Model
Development
Financing for
New Ventures
Leadership &
Organizational
Development
Sales and
Marketing
Distribution
Model and
Channel Access
General
Business
Knowledge
Growth
Capital

PROGRAM
COMPONENTS
Impact Report 2016

APPLICATIONS & COHORT SELECTION
Marketing and Outreach
Creative Startups’ marketing
activities to attract applicants are
based primarily in social media,
in-person presentations, and
“coffee and creatives” gatherings.
Additionally, we partner with
leading creative communities
such as CreativeMornings,
Global Creative Business Cup,
and Creative Economy Coalition
to reach prospective applicants.
This year we extended our reach
through networking efforts that
focused on connecting with like
minded organizations and thought
leaders around the globe.
Creative Startups Mentors are
also helpful by reaching out to
their extensive networks. Our
e-newsletter reaches over 7,000
recipients across the globe. Local
press has been useful for reaching
potential applicants and partners
in the economic development and
regional startup ecosystem.
Online Application
The application contains
approximately 30 questions
and requires applicants submit
a 4-minute video introducing
their team and describing their
creative company. The application
attempts to evoke answers that
provide judges with insights into
the entrepreneurial mindset and
attitude of the startup’s leaders.
The application does not require
financials, a business plan, or that
applicants display a firm grasp
of business fundamentals. The
application instead is intended to
gather information on applicants’
passion, grasp of market
landscape/opportunity, customer
understanding and their desire to
achieve dramatic growth in the
venture.
Selection Process
Creative Startups’ selection
process is entirely merit based. All
applications are sorted by staff for
a “first cut” of approximately 50
applications using criteria including
potential to scale, innovativeness,
grasp of market and opportunity,
and full participation of founders.
These “best of” applications are
then each
reviewed
by a
panel of
judges.
Judges are Creative Startups
alumni, well respected members of
the startup and VC community, and
successful creative entrepreneurs.
Each application is reviewed by
three judges, and judges review
no more than five applications.
Judges use a guided score sheet
to evaluate the applications on
vision, team, milestones, innovation
and creative expression. Once a
Site’s judges have completed their
reviews, scores are normalized
and then the Site’s judges discuss
the “best of” applications until the
final selection the of Site’s 8-12
startups is determined. Throughout
the entire process we compile notes
and comments from reviewers that
are then passed on to the applicants
so they can continue to improve
their business even if they are not
accepted into the Accelerator.
75% OFACCEPTED
S T A R T U P S
HEARD ABOUT US VIA
A PERSONAL TOUCH
14
OVER 300 APPL I CATIONS HAVE BEEN
SUB M IT T ED TO THE CRE ATI VE STARTUPS
ACCELERATOR; 41 OF WHICH HAVE BEEN ACCEPTED.

Module 3
Design Thinking to Support
Innovation
Module 5
Business Models as Profit
Systems
Module 7
Strategic Partnership for
Scaling
Module 9
Cash Flow Projections
Module 11
Raising Capital & Sources
of Capital
Module 2
Customer Delight, Product
Development, & Business
Model
Module 4
Customer Discovery,
Market Traction for Startups
Module 6
Branding, Storytelling, &
Sales
Module 8
Legal Issues for Startups
Module 10
Financial Statements
Module 12
Pitching Investors
COURSE & CURRICULUM
Curriculum
The Creative Startups team worked
with Stanford entrepreneurship
faculty to create a unique curriculum
designed for entrepreneurs in the
creative industries. The 12-module
program addresses a wide range of
topics and presents entrepreneurs
with engaged learning activities.
These activities provide participating
entrepreneurs a platform from which
they can lead their startup to new
heights.
Online Interactive Classes
The online classes consists of:
• Review and discussion of
curricular content,
• Case study discussion,
• Guest faculty-led discussion
and presentation,
• Review of assignments and
questions.
In addition to scheduled classes,
the cohort meets in small groups
via Google Hangouts/Skype
and, through facilitated discussion,
review concerns and challenges.
Weekly class time averages five
hours, not including assignments.
Module 1
Entrepreneurship as a Way
of Thinking & Leading
C
O
M
P
O
N
E
N
T
S
15
THE ONLINE LESSONS
WERE PHENOMENAL &
ALLOWED MY TEAM TO
REFLECT & THINK ABOUT
OUR BUSINESS MODEL.
“
“

DEEP DIVE & MENTORING
Deep Dive
After completing the course,
founders participate in an intensive
“Deep Dive”. The week includes:
• Extensive one-on-one
mentoring with Creative
Startups Mentors who
travel to the Deep Dive,
• Presentations by
content experts
including accounting,
legal, marketing, and
operations,
• Blocks of time for
working in teams to
develop the pitches
delivered on Demo and
Pitch Days.
Demo Day & Pitch Day
Demo Days allow startups to reach
the broader community and display
their innovations and products.
Each startup prepares a 2-minute
presentation designed as an
exciting overview of their venture.
These presentations are delivered
to a large crowd; each demo
is videoed and available to the
startups so they can learn from their
performance.
Pitch Days allow startups to directly
engage investors and “pitch” a
panel of professional investors. The
pitches are judged by the investors,
mentors, as well as their cohort
peers. Verbal feedback is provided
by the investors and mentors. The
winning entrepreneurs receive
investment from the investment pool
raised by the Site. Sites vary in their
deployment of investment funds:
some Sites take equity in return for
investment while others choose to
do zero-interest loans or convertible
notes.
Mentoring
All participating startups are
provided mentoring throughout
the following year. Our suite of
70+ mentors stand ready to offer
connections to their extensive
networks and provide practical
guidance. Creative Startups
Mentors are not “assigned” a
startup; the relationships emerge
organically. The Creative Startups
team provides ongoing connections
to the mentor network, investors,
and market leaders. Creative
Startups Mentors remain engaged
with entrepreneurs for months - -
sometimes even years!
1:1 MENTORING TEAMS WORKING CONTENT EXPERTS DEMO DAY
16

PROGRAM
EVALUATION
Impact Report 2016

MEASURING EFFECTIVENESS
Startup accelerators have
been launched by a wide
diversity of communities whose
intended impacts vary greatly, thus
complicating efforts to measure
and compare outcomes (Kempner
& Roberts, 2015). The impacts
accelerators pursue and measure
vary as widely as the communities
they serve. For example, Techstars
is designed to generate maximum
financial returns for the participating
investors and founders. By contrast,
POSiBLE, an accelerator in Mexico
City, is designed to catalyze
widespread awareness and
excitement about entrepreneurship
as a possible career path. While
POSiBLE intends to increasingly
move toward a model that
generates financial returns to
investors, currently the primary aim
of the program is to multiply and
expand entrepreneurial activity.
The sought-after impacts of
accelerator programs reflect the
stage of development a given
entrepreneur ecosystem has
reached. For an under-developed
region, a lack of entrepreneurial
capacity and investment capital
suggests that ideal outcomes would
include increased entrepreneurial
capacity and growth in available
capital. Regions steeped in
resources and capacity are able
to focus on generating maximum
financial returns for investors. As
regions develop and augment their
entrepreneur ecosystems through
offering accelerators and other
activities, we suggest the study of
accelerators should also evolve, to
contribute a more comprehensive
understanding of the role diverse
accelerator approaches can play in
communities.
While a range of impacts may be
measured by accelerator programs,
we maintain that certain outcomes
are “non negotiable” including:
increases in skills, knowledge,
networks, self-confidence, and
access to investment capital.
18
- ROBUST -
ENTREPRENEUR
E C O SYS T E M
POLICY
MARKETS
STARTUPS
MENTORS
STARTUP
CULTURE
INVESTMENT
CAPITAL
E-SHIP
EDUCATION
Graphic adapted from
Babson College’s Domains of the Entrepreneur Ecosystem

METHODS & MEASURES
The Methods
The methods Creative Startups uses
to measure shifts in participants’
gains include generating a
baseline measurement of incoming
knowledge, skills, self-confidence,
and concerns. This baseline is
compared to exit data provided by
participants through interviews and
online questionnaires. Questions
are presented with exactly the
same phrasing in pre and post
questionnaires.
Questionnaires
Each participant completes an
online questionnaire one week
prior to beginning the program.
The pre-questionnaire includes
approximately 30 questions
about founders’ entrepreneurial
background and experiences,
perceived (self) weaknesses and
strengths, self-confidence, and
startup knowledge. The pre-
questionnaire also asks founders to
self-report revenues, employees,
and investment raised to date.
The post questionnaire uses the
same (exact) questions as the pre-
questionnaire, to compare before
and after levels of knowledge, skills,
networks, and self-confidence. We
also ask for feedback/suggestions
for program improvements. Post
questionnaires are deployed at
two-weeks, 12 months, and 24
months post program completion.
Observations
In addition to using interviews
and questionnaires we make
observations and track the progress
of startups through on-going
involvement and support for each
founding team. This allows us
to gather on-going data about
challenges and opportunities,
insights and observations the
entrepreneurs have as they put into
practice the new knowledge, skills,
and networks they gained with
Creative Startups.
Evaluation Team
With generous support from the
E.M. Kauffman Foundation we have
contracted an outside “professional
evaluator”. Her background
includes project management with
NASA and evaluation management
with the National Science
Foundation.
MEASURING FOR CHANGE The key outcomes for Creative Startups Accelerators include:
Increased activity
in the creative
entrepreneur
ecosystem
Gains in
entrepreneurs’
knowledge and
skills
Increased financial
investment in
creative ventures
Job growth in
participating
creative enterprises
Increased self-
confidence as
entrepreneurs
19
E
V
A
L
U
A
T
I
O
N

Impact Report 2016
ACCELERATOR
COHORTS

DEMOGRAPHICS
HIGHDESIGN/
CONSUMERGOODS
EXPERIENCES
FASHION
CREATIVE
ADVERTISIN
G
VR &
FILM
PUBLISHIN
G
EDUCATION
TECH
MUSIC
CULINARY
3-D JOUR-
NALISM
INTERACTIVE
DIGITAL
MEDIA
INDUSTRIESREPRESENTEDApplicants to Creative Startups
Accelerators come from Asia,
Europe, Latin America and the US.
We have selected participants from
the US, Mexico, Singapore, Peru,
Portugal, and the UK.
Creative Startups Accelerators
have attracted companies from an
array of different creative industries.
Startups such as Etkie (ABQ, 2014),
FAR Botanicals (ABQ, 2015),
GOOOD (ABQ, 2016) and TALLER
NU (WS, 2016) produce high
STARTUPS LOCATIONS
design goods which make up the
largest portion of the total with 28%
of startups self identifying in this
field.
PRINTING
21
C
O
H
O
R
T
S
UNITED STATES
MEXICO
PERU
PORTUGAL
SINGAPORE
UNITED KINGDOM
41S T A R T U P S 76
I N D I V I D U A L S
&
H A V E P A R T I C I P A T E D
IN THE ACCELERATOR.

DEMOGRAPHICS
FORMAL EDUCATION
GENDER & ETHNICITY
The Creative Startups Accelerator
reaches overlooked and under
served entrepreneurs. 75% of all
Accelerator participants have no
previous business education. Over
half are educated in creative fields
with design and the arts being the
most common backgrounds. 16%
of founders have formal design
education and 15% arts education.
Business education is the next
single largest field with11% and
7% of founders have management
education. The least amount
of founders have a science/
tech education background with
computer science as the most at 8%.
Female and/or
Minority
Other or
Prefer Not to
Answer
Creative Fields
Science &
Tech
Business/
Management
70%
30%
59%
25%
16%
88%
12%
Individual Participants Startups - At Least One Founder
22

COHORT NEEDS & KNOWLEDGE GAPS
SELF REPORTING DATA - STRENGTHS & WEAKNESSES
The pre-questionnaire elicits a
range of (self-reported) strengths
and weaknesses, learning goals,
and desired outcomes. Among
all cohorts, there exist similarities
regarding knowledge and skill
gaps, strengths and weaknesses. All
participants express strong interest in
developing financial management
skills and learning how to raise
outside investment. One participant
voiced a telling concern, explaining
she was nervous that “I will feel
the same as I have at every other
startup event - that creatives/creative
companies are not welcome and do
not make money.”
WeakestStrongest
Being an
Inspiring
Leader to my
Team
Generating
Innovative
Products
Sales &
Customer
Engagement
Marketing
& External
Communications
Projecting &
Managing
Cash Flow
Raising
Investment
Capital
23
C
O
H
O
R
T
S
I DON’T WANT TO SPEND TIME ATTEMPTING
TO MODIFY OR FIT OUR PRODUCT INTO A BOX.
OFTEN TIMES OTHERS WANT TO CHANGE
OUR IDEA IN HOPES OF HAVING IT FIT A
MORE ESTABLISHED PROFITABLE MODEL.
- 2014 Creative Startups Alum
“
“

Impact Report 2016
ACCELERATOR
OUTCOMES

STARTUP ECOSYSTEM FOR CREATIVES
The ”entrepreneurial ecosystem”
for creatives is emergent. Among
higher education, local government
and policy makers, and small
business support resources there
persists a lack of understanding
about the creative economy.
Creative Startups is developing
resources and connectivity in the
creative economy ecosystem. The
below graphic identifies
impacts Creative Startups
has directly led or significantly
influenced through developing
the Accelerator and related
Acceleration Programs.
25
O
U
T
C
O
M
E
S
Policy
Markets
Human
Capital
Finance
Support
Culture
C R E A T I V E
S T A R T U P S ’
I M P A C T
on a REGION’s
C R E A T I V E
E C O N O M Y
• New markets develop
• Regional connections to
markets grow
• Local startups gain
awareness/access to
bigger markets
• Increased knowledge
and skills among
creative community
• Creative ventures access
technical expertise easily
• Regional strength in
targeted industries • Global mentor
network
• Increased valuing of
creative entrepreneurs
• Peer network emerges
among cohorts
• Higher ed
for creatives engages in
startup community
• Creatives are encouraged
to launch companies
• Creative economy
events flourish,
attendance grows
• Angel and VC
investors attend “Pitch
Day”
• Top Finalist raises follow
on funding from 10+
investors
• Increased awareness
of “fundability” of
creatives
• Creative economy
strategies developed
• Research on region’s
creative economy
• Leadership recognizes
creative ecosystem

KEY ACCELERATOR OUTCOMES
NEW
JOBS
CREATED
STARTUPS
SERVED
41
INDIVIDUALS
SERVED
76
144
MONTHS
26
26

COMPANIES
STILL THRIVING
90%
PARTICIPANTS
ARE WORKING
IN STARTUPS100%
MILLION
INVESTMENT
CAPITAL RAISED
MILLION NEW
REVENUES
EARNED
$7.8
$6.5
27
O
U
T
C
O
M
E
S

KNOWLEDGE GAINED
Minimum
Viable
Product
Seed
Round or
A Round
Market
Segmentation
Revenue
Share
Models
Equity
vs Debt
Financing
Business
Model
Elements
Core
Value
Proposition
Customer
Development
Methods
Pre-Accelerator Post-Accelerator
Human capital, defined as
an individual’s knowledge,
personality, attributes, and habits
(Becker, 2009) is frequently
cited as a contributing factor
to entrepreneurial success.
Furthermore, it is well documented
that entrepreneurs with “business”
knowledge are more likely to
experience startup success
(Staniewski,
2016; Unger,
Rauch, Frese,
& Rosenbusch,
2011; Cooper,
Gimeno-Gascon,
& Woo, 1994).
Therefore, the Accelerator programs
build participants’ knowledge in
several relevant areas. Data show
that our course has become more
effective - i.e. knowledge gains
have increased - over the past
years.
More than knowledge, passion, or
persistence, social networks tend
to predict entrepreneurial success.
Entrepreneurs with diverse and
disparate networks are more easily
able to access essential resources
including industry expertise,
business acumen, financial
resources, market leads, and more
(Barley, 1985; Aldrich, Rosen,
& Woodward, 1987; Aldrich &
Zimmer, 1986). Creative Startups
strives to extend
entrepreneurs’
networks
through mentors,
introductions to
relevant connections,
and peer learning.
28
100%
90%
80%
70%
60%
50%
%reportingatleast“somewhat
familiar”withconcept
2014-2016 PRE & POST ACCELERATOR
IT WAS A FANTASTIC EXPERIENCE!
THANK YOU FOR CREATING A WAY FOR
CREATIVES TO LEARN ABOUT BUSINESS!!
“ “

PROFESSIONAL NETWORKS
Akey goal of the Accelerators,
despite being short in duration,
is to grow the professional networks
and connections startups have
with investors, market leaders, and
possible partners. Across
the board, participants report
an increase in their network
connections and value.
We continue to increase the value of
the network on behalf of the startups
we serve as we build the global
Creative Startups community.
In 2014 participants came in with
small investor networks and did not
express a whole lot of growth in
this area, accounting for the lower
% of overall participants reporting
strengths in investor networks. In
2015, though pre-accelerator
investor networks were smaller than
that of 2014, the number of people
post-accelerator expressing access
to investor networks increased
drastically. 2016 was our strongest
year to date along these lines.
Results in this category have shown
substantial improvement over
the three years the program has
operated in Albuquerque.
Overall we see an increase
in the number of startup founders
expressing strong network
connections in all areas from pre-
accelerator to post-accelerator.
2014-2016 PRE AND POST ACCELERATOR
90%
70%
50%
30%
10%
2014 2015 2016
%reportingatleast
“somewhatstrong”investor
networks”
Pre-Accelerator
90%
70%
50%
30%
10%
Investors Market
Partners
Accounting &
Legal
Professionals
%reportingatleast
“somewhatstrongnetworks”
Post-Accelerator
INVESTOR NETWORKS
Data show that our efforts in this area have become more effective - i.e.
network gains have increased - over the past years.
29
O
U
T
C
O
M
E
S

INCREASED SELF-EFFICACY
2014-2016 PRE AND POST ACCELERATOR
100%
90%
80%
70%
60%
50%
Pitching
Investors
Managing
Cash Flows
Selling My
Products/
Services
%reportingatleast
“somewhatcomfortable”
Pre-Accelerator Post-Accelerator
Leading My
Team When
Things Are Not
Going Well
ADDED 2016 MEASURES*
100%
90%
80%
70%
60%
50%
%reportingatleast
“somewhatcomfortable”
Setting &
Pursuing
Market
Strategies
Identifying
& Reaching
Profitable
Markets
Targeting Ideal
Growth
Capital
30
Self-efficacy is known to influence
entrepreneurial intentions and
behaviors (Zhao, Siebert, & Hills,
2005). Self-efficacy, defined as the
belief one has in her/his own ability
to perform a task, and the presence
or lack thereof, can bolster or
inhibit entrepreneurial intentions
and actions. Therefore, an essential
outcome Creative Startups pursues
is increased self-efficacy of
participating entrepreneurs.
*In 2016 more questions were
added to this category to better
measure program impact.

JOBS, INVESTMENT, & REVENUE GROWTH
$1M
$250k-
$1M
$100-
250k
$50-
100k
INCREASE IN REVENUES
TOP EARNING CREATIVE STARTUPS COMPANIES
0 1 2 3 4 5 6
# of Startups
31
O
U
T
C
O
M
E
S
The most important outcome
accelerators pursue, as with
all startup support initiatives, is
economic growth. For Creative
Startups this primarily means job
growth. Many accelerators also
heavily emphasize investment raised
as a marker of success. While
this may indicate that a startup is
trending toward a positive outcome
in terms of hiring employees,
investment raised should not
be equated with jobs created.
Consider WhatsApp, a popular
messaging platform recently
acquired by Facebook for $22
billion. At the time of acquisition
WhatsApp had 55 employees.
While investors in WhatsApp were
certainly delighted by this ROI,
valid concerns have been raised
(Reich, 2014) about the future of job
creation in the “digital economy”.
Creative Startups tracks jobs
created, investment raised from
outside investors, and revenue
growth of the startups. To date, as
with most successful accelerators,
the majority of the growth in jobs,
investment raised, and revenue
growth stems from one highly
successful company: Meow Wolf.
(This is not atypical of accelerators,
which employ a portfolio approach
to creating measurable
success. Y Combinator, for
example, attributes 78% of it’s
$65 billion portfolio’s value to
just eight companies out of the 940
it has hosted through its accelerator
(Sawer, 2015).)
Additional Creative Startups
companies are gaining market
traction and revenue growth.
Measuring for revenue growth,
52% of the startups have
experienced 500% compounded
annual growth in revenues. This
is meaningful as nearly half of
startups from 2014 and 2015 had
revenues over $25K starting the
program. Of the 2014 cohort,
Etkie’s revenues went from
$35,000 in 2014 to $350,000
24 months later. Island Stage
grew their revenues from $1,200
to $95,000 in 24 months. And
Meow Wolf went from $0 to over
$5,000,000. The 2015 cohort has
collectively doubled their revenues
in 12 months from $575,000 to
$1,250,000. 2016 cohort shows
revenue increases of $750,000 in
three months!
37 (90%) of the startups who have
completed the program are still
in business. Of these, 12 (29%)
are growing dramatically (see
chart). The growth trajectory of
these startups suggests that Creative
Startups catalyzes positive shifts in
the development of the majority of
participating companies.
38P A R T T I M E106
F U L L T I M E
&
N E W J O B S C R E A T E D .

MENTORING
Since the first round of the
Creative Startups Accelerator in
2014 we have had over 70 mentors
work with participating startups.
The Creative Startups Mentors
include founders of well-known
creative companies and brands
such as Fast Company Magazine,
Public Enemy, and Artful Home.
Additionally, Creative Startups
Mentors are founders of venture
capital firms, technology firms, and
emerging creative firms. Many
Creative Startups Mentors are also
investors. We include our investor
mentors and other professional
investors on Pitch Day. We carefully
select Creative Startups Mentors
and investors who have a strong
sense of wanting to contribute to the
success of emerging entrepreneurs
and whose goal in working with
entrepreneurs is to support the
individual entrepreneurs as well as
the creative enterprise.
LISA ALDERSON
Founder and President,
Hopeless Records
The Creative Startups Mentors
have, in aggregate, donated over
3700 hours of their time. At a
conservative valuation of $250/
hour for their time, this equals over
$925,000 in mentoring expertise
donated over 3 years. Creative
Startups Mentors continue to
engage with participants frequently.
Serial Entrepreneur and
Technology Innovator
BRIANHARDGROOVE
Producer,Songwriter,Bass
guitarist of Public Enemy
LOUIS POSEN TONI SIKES
CEO of CODAworx
32
THISWASTHEMOSTREWARDINGMENTORSHIPPROGRAMI'VEBEENPARTOF.
THE GENUINE PASSION AND DRIVE OF THE STARTUPS WAS ONLY RIVALED
BY THE SPIRIT AND AUTHENTICITY OF THE CREATIVE STARTUPS TEAM.
- 2015 Accelerator Mentor
“ “
OF MENTORS RETURN
WHEN INVITED AGAIN!
100%
O N E -
ON-ONE
MENTOR
H O U R S
G I V E N
3.7K

WINSTON-SALEM SITE OUTCOMES
2016 saw the launch of the
Creative Startups Accelerator
Network. The first new Site to
join the Network is hosted by The
Center for Creative Economy in
Winston-Salem, North Carolina.
Winston-Salem’s pioneering
cohort went through the
Accelerator in Fall 2016 and are
already achieving striking results.
The Demo Day event during
the Deep Dive attracted over
250 people and was a major
celebration and showcase of
the region’s creative industries.
Winston-Salem Mayor, Allen
Joines, proclaimed September 25-
30 as “Creative Startups Week,”
and City Council Member,
Denise Adams presented the
proclamation at the event.
REVENUES
BEFORE
$
26K
REVENUES
AFTER
$360K
INVESTMENT
RAISEDAFTER
$250K
PARTICIPATED
IN THE
ACCELERATOR
33
O
U
T
C
O
M
E
S
THANK YOU SO MUCH FOR STARTING
THIS PROGRAM & BELIEVING IN
COMPANIES LIKE US. WE CANNOT WAIT
TO MAKE YOU PROUD & CELEBRATE!!!
- 2016 Winston-Salem Alum
“
“
10STARTUPS 21
INDIVIDUALS
&
Site Founder Margaret Collins with 2016 alum TALLER NU

Impact Report 2016
PROFILES IN
SUCCESS

Meow Wolf provides an
exceptional example of the
positive impact an accelerator
can have on a team with raw
entrepreneurial talent and drive.
Prior to taking part in Creative
Startups, Meow Wolf had consisted
of a loose collective of artists
building large scale “worlds of
wonder” art
installations.
But in 2011
the group
erected the
Due Return,
a life-size
ship with
interactive art
throughout
it’s interior.
The show attracted 25,000 paying
customers and Meow Wolf realized
they could become more than
a collective of talented friends:
they could revolutionize themed
entertainment.
Based in Santa Fe, New Mexico,
Meow Wolf now employs 90
creatives and artists who design
and maintain their newest
“immersive art” exhibit, The House
of Eternal Return. A full 20,000
square feet of mystical wonder,
the House has been described as
“interactive and otherworldly...a
modern day Twilight Zone” (LA
Times, 2016).
Coming into the program the
founders reported they had “never
heard of” various startup concepts
or terminology including “market
segmentation”, “revenue share
models”, and “minimum viable
product”. The team expressed
concern about their lack of business
expertise and knowledge. They
stated that they had “0” paid
employees and had raised no
money from outside investors.
The House of Eternal Return
opened to visitors in March 2016.
By the end of 2016 Meow Wolf
had hosted 400,000 visitors.
Amazingly, the team has earned
$1,000,000 in profit and has
plans for
expanding
into new
markets.
Additionally,
the upstart
artist
collective
recently
received the
prestigious
Thea Award
for 2017.
THE THEA AWARDS
35
P
R
O
F
I
L
E
S
MEOW WOLF
I’M WORRIED THAT MY
LACK OF ENTREPRENEURIAL
TRAITS WILL DISTRACT ME
FROM LEARNING AND I WILL
BECOME LESS CONFIDENT.
“
“
BEFORE AFTER
WHAT AN AMAZING EXPERIENCE
THIS HAS BEEN. WE ARE VERY
GRATEFUL FOR EVERYTHING!
IT HAS BEEN A HUGELY
MEANINGFUL BOOST TO US!

ETKIE
Sydney Alfonso was born and
raised in New Mexico. With
an intuitive sense of design and an
ability to easily engage with artists
from diverse cultures, Sydney has
rapidly scaled a small startup into
a growing design company. In
mid-2014 Sydney launched Etkie,
a design
company
supporting
Native
American
women
artisans.
Etkie co-designs and sells exquisite
products creating living wage jobs
for Native women and delighting
customers with unique jewelry.
Graced with a natural ability in
sales and marketing, Sydney has
been able to build Etkie’s success
with sales growth that could
soon outpace organizational
infrastructure. Coming into Creative
Startups, Sydney was fairly
confident about many areas of
her business and felt comfortable
managing various aspects,
especially sales. However, finance
and supply chain management
presented a greater challenge.
Keenly aware of this challenge,
Sydney has effectively used the
Creative Startups Accelerator’s
network to increase her own level of
knowledge and to identify Creative
Startups Mentors and content
experts who complement her skills.
Maintaining contact with Creative
Startups Mentors and staff, Sydney
has applied the resources of
Creative Startups toward her new
venture’s success. Etkie is on track
to reached sales of $350,000
in 2016. Sydney has hired eight
Navajo women artisans who now
work full time, earning more than
twice the average wage for the
region.
Looking ahead, Sydney plans to
expand beyond the 95 galleries
and boutiques carrying her works.
Present in 7 global markets and
now a regular
presence at
Paris Fashion
week, Etkie’s
success is all
but assured.
36
THE MOST VALUABLE PART OF CREATIVE STARTUPS IS THE NETWORK:
ITS LIKE A CUSTOMIZED GROUP OF PEOPLE WHO KNOW
HOW TO SPECIFICALLY HELP YOU. AND, THERE’S A LOT
OF SUPPORT FOR THE CREATIVE SIDE OF THE BUSINESS.
“
“

Embodied Labs is an exemplar
of creativity and tech coming
together to bring innovation. The
team has been moving fast since
founding Embodied Labs, based in
Chicago, in May 2016.
The company’s first product, Alfred,
allows the user to understand what
it is like to have vision impairment
and high frequency hearing loss.
In this immersive experience, the
user can explore and choose how
to interact in another person’s
world, addressing the growing
Eldercare Crisis coupled with the
rising popularity of the virtual reality
market.
The four co-founders have diverse
backgrounds in health, science,
film, and programming. Coming
in with little business skills, they
took full advantage of their time
during the Accelerator to strengthen
their business knowledge around
strategy, finance and accounting,
and raising funds from investors.
They continue to actively utilize the
Creative Startups Mentor network
to help them strengthen skills and
make connections.
The team is committed passionately
to the company, and know the
goals and milestones they need
to reach. They currently have 10
beta customers including academic
institutions - mostly medical schools
and undergraduate institutions,
and are developing their next
product using beta data to inform
development decisions. Adapting
to market realities, the team pivoted
and now sells their products in a
different format, 360 Video, until
the price for VR equipment comes
down.
The team continues to win awards
and recognition as pioneering
innovators in the VR medical
education arena. A few of these
include:
• CEO Carrie Shaw named “50 on
Fire” by Chicago Inno
• 1 of 5 companies in San Diego’s
Frontier Tech Showdown
• Winner, USC’s, Center for
Body Computing- Medical VR
Hackathon: Hack Empathy
• 1st Place - Global Ed Tech Startup
Awards, “Best edtech startup West of
the Mississippi”
• Stanford Med X| Ed 2017
37
P
R
O
F
I
L
E
S
EMBODIED LABS
IT WAS A HUGE BOOST FOR US
AS A YOUNG COMPANY TO BE ABLE TO
HAVE THAT BOOST OF CONFIDENCE
FROM OUR ACCELERATOR PROGRAM.
“ “

Founded in April, 2015,
Native Realities is taking the
contemporary and pop art scene
by storm. Lee Francis, of Laguna
Pueblo, founded Native Realities
to tackle head
on “the need
for Native
American
characters in
pop culture”
explaining,
“We don’t see
villains, sidekicks, or leads who are
Native American!”
Given the wide open market
for pop culture that combats
stereotypes and celebrates
indigenous people as contemporary
people, it is not surprising that
Native Realities is taking off. Having
already published 10 comic books
with titles like, “Tales of the Mighty
Code Talkers,” “Jonesy,” and “Deer
Woman”, Native Realities has
begun to move into the comic con,
games, and online gaming realm.
The Native artists working with Lee
and his team include leading talent
like Arigon Starr (Kickapoo), and
Jonathan Nelson (Navajo/Diné).
“There are 5 million indigenous
people in the USA - and that’s just
the domestic market,” Lee shares as
he describes his vision for being a
global brand in the pop art space.
And Native people are not the
only people buying the comics and
attending Native Realities’ events.
“We had over 1,000 people at
the world’s first Indigenous Comic
Con this year. When we launched
Indigenous Comic Con, we weren’t
sure what to expect but we had
people come in from all over the
world!”
2017 promises to be a banner year
for Native Realities as the fledgling
startup launches 10 more titles, a
table-top game
and a video
game.
38
NATIVE REALITIES
C R E AT I V E S TA RT U P S I S A V I S I O N R E A L I Z E R .
ITS THE CHANCE TO REALLY LEARN & CONCEPTUALIZE
WHAT THE BUSINESS IS ALL ABOUT IN A STRATEGIC WAY.
“ “

FUTURE
DIRECTIONS
Impact Report 2016

BENEFITS TO SITE FOUNDERS
40
LAUNCH A CREATIVE STARTUPS ACCELERATOR
Each week we receive inquiries
from creative economy leaders
from around the world asking:
“How can we launch Creative
Startups Accelerator in our region?”
To respond to this growing demand,
we launched the Creative Startups
Network. We invite leaders to
Through licensing our intellectual property and providing support to new Sites, Creative Startups equips
Site Founders with the essential networks, knowledge, and tools to build a successful startup accelerator for
creatives. Site Founders benefit from our extensive experience, networks, and operational expertise thus
bypassing the challenges and costs of launching an accelerator from scratch.
become Site Founders, building
an Accelerator in their region with
ample support and intellectual
property from Creative Startups
Network, Sites, and team.
Our goal in launching the Creative
Startups Network is to accelerate
the launch of over 250 new creative
ventures across the globe by 2020.
To achieve this, we provide Site
Founders:
•Expertise, guidance, and support to
launch an Accelerator;
•Access to an international network of
creative enterprise mentors, leaders,
educators, and investors;
• Turnkey entrepreneurship
education tools built by leading
educators.
-NEW SITE-
F O U N D E R
Access
to global
mentor
network
Dedicated
Creative
Startups staff
Participation
in Network &
Sites learning
exchange
Templates
& tools for
planning &
budgeting for
all program
aspects
12 course
modules including:
discussion guides,
case studies,
assignments,
& more
Access
to technology
platforms for managing
applications, selecting
startups, delivering
online courses, &
collecting evaluation
data
Evaluation and
reporting on
outcomes provided
by professional
external evaluator
Support with
marketing, social
media, & mentor
engagement
On-going
support for
program
improvement

41
F
U
T
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R
E
GIVEN THE POSITIVE OUTCOMES & MEANINGFUL IMPACT CREATIVE
STARTUPS HAS GENERATED IN ALBUQUERQUE & WINSTON-SALEM,
WE HOPE MORE COMMUNITIES WILL EMBRACE THIS BOLD
NEW APPROACH TO SUPPORTING CREATIVE ENTREPRENEURS.
Leaders interested in launching a Creative Startups Accelerator
can contact us at info@creativestartups.org.
The Licensing Process
Creative Startups employs a multi-
step licensing process to develop
new Sites.
Step One includes conducting
an Asset Analysis in situ with
Site Founders and regional
leaders. Step Two includes
joining monthly conference
calls plus weekly planning calls
during which we transfer our
extensive implementation
knowledge to Site Founders.
Accelerator Launch is Step Three.
Finally, Evaluation and Program
Improvement are carried out over
the following months to continually
improve upon the program.
• Identify partners,
mentors, sponsors,
& pipeline of
startups.
• Design timelines,
implementation
plans & budget.
1
ASSET
ANALYSIS
• Participation in
monthly conference
calls to learn best
practices & gain
support from staff &
other Sites.
2
KNOWLEDGE
& PLANNING
• Leverage Creative
Startups’ marketing
and social media,
application,
curriculum, &
evaluation tools.
3
LAUNCH
ACCELERATOR
• Review data &
areas of strength &
weakness.
• Set action plan
for making
improvements.
4
EVALUATION
& PROGRAM
IMPROVEMENT

MASTER CLASSESWORKSHOPS
We design and develop workshops tailored for
specific entrepreneur audiences and economic
development leaders.
POTENTIAL WORKSHOPS TOPICS:
• Entrepreneur Ecosystem Development
• Creative Entrepreneurs & Communities
• Fully Customized for Each Client
Master Classes are designed for advanced
entrepreneurs and may focus on raising venture
funding and company valuation, international
market expansion, and similar growth opportunities.
MASTER CLASSES ARE:
• Customized for Experienced Founders
• Ideal for Rapidly Scaling Startups
• Online & On Site Classes & Mentoring
CONSULTINGLABS
Labs are 4 week intensives combining rigorous
coursework with mentorship and applied learning
experiences.
CREATIVE STARTUPS LABS ARE:
• 4 Week Intensive for Startups
• Ideal for Nascent Stage Ventures
• Mentorship & Classes
Creative Startups provides consulting services
to city governments, economic development
organizations, and creative economy initiatives
building creative entrepreneur ecosystems.
POTENTIAL CONSULTING TOPICS:
• Regional Creative Economy Development
• Cultivating Creative Communities
• Accelerating Innovation in Regions
RECENT CLIENTS
42
LETS WORK TOGETHER!
Creative Startups works
domestically and internationally
with regional governments, NGO’s,
universities, economic development
initiatives, and creative economy
organizations to design and
develop acceleration programs
tailored for specific entrepreneur
audiences. Programs are designed
to build capacity of participants to
think and lead as entrepreneurs,
increase sector specific knowledge,
and catalyze entrepreneurial
activity in a region.
Contact info@creativestartups.org
to discuss opportunities to work
together.

OUR TEAM
43
C
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N
N
E
C
T
Connect
CREATIVESTARTUPS.ORG
Alice Loy, PhD
Co-Founder and CEO
Tom Aageson
Co-Founder
Lena Ramfelt, PhD
Lead Faculty
Barbara Kimbell
Lead Evaluator
Amy Slater
Director of Operations
Julia Youngs
Program Director
@createstartups
Ginny Sterpka
Director of Outreach
Julia Chacon
Social Media
Ernie Zahn
Administrative Assistant
info@creativestartups.org

References
Aldrich, H. E. & Zimmer, C. (1986). Entrepreneurship through social networks. In Sexton, D. & Kasarda, J.
(Eds.), The Art and Science of Entrepreneurship. Cambridge, Massachusetts: Ballinger.
Aldrich, H. E., Rosen, B. & Woodward, W. (1987). The impact of social networks on business foundings and
profit: A longitudinal study. In Churchill, N., Hornaday, J., Krasner, O. J., & Vesper, K. (Eds.). Frontiers of
Entrepreneurship Research. Wellesley, Massachusetts: Babson College.
Barley, S. (1985). The role of networks in the entrepreneurial process. Journal of Business Venturing 1(1), 107
- 117.
Becker, G. S. (2009). Human capital: A theoretical and empirical analysis, with special reference to
education (3rd ed.). Chicago: University of Chicago Press.
Cohen, S. G., & Hochberg, Y. V, (2014). Accelerating startups: The seed accelerator phenomenon. Retrieved
from http://seedrankings.com/pdf/seed-accelerator-phenomenon.pdf
Cooper, A.C., Gimeno-Gascon, J., & Woo, C. Y. (1994). Initial human and financial capital as predictors of
new venture performance. Journal of Business Venturing 9(5), 371-395.
F6s.com (2017). Retrieved from https://www.f6s.com/search?q=accelerator
Fairlie, R. W. (2013). Kauffman index of entrepreneurial activity 1996 – 2013. Kansas City, Missouri:
Kauffman Foundation. Retrieved from http://www.kauffman.org/~/media/kauffman_org/research%20
reports%20and%20covers/2014/04/kiea_2014_report.pdf
Jones, J. (2016). Is Meow Wolf an art complex? Maybe, but it’s more like an immersive Twilight Zone in Santa
Fe. Los Angeles Times. Retrieved from http://www.latimes.com/travel/deals/la-tr-meow-wolf-santa-fe-
20160629-snap-story.html
Kempner, R., & Roberts, P. (2015). Aren’t accelerators great? Maybe… The Wall Street Journal. Retrieved
from http://blogs.wsj.com/accelerators/2015/04/10/randall-kempner-and-peter-roberts-arent-
accelerators-great-maybe/
Kosoff, M. (2016). These 20 VC-backed companies had the biggest exits of the last year. Business Insider.
Retrieved from http://www.businessinsider.com/the-20-biggest-vc-backed-company-exits-of-2015-
2016-1/#20-naurex-sold-for-560-million-1
Lhermitte, M., Perrin, B., & Blanc, S. (2015). UNESCO Cultural times report: The first global map of cultural
and creative industries. UK: Ernst & Young. Retrieved from www.ey.com/Publication/vwLUAssets/ey-
cultural-times.../ey-cultural-times-2015.pdf
Loeb, S. (2014). Venture-backed exits: The top 10 of 2014. Vator News. Retrieved from http://vator.tv/
n/3b16
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McAdam, D., & Paulsen, R. (1993). Specifying the relationship between social ties and activism. American
Journal of Sociology 99(3), 640-667.
McAdam, D., Tarrow, S., & Tilly, C. (2001). Dynamics of contention. Cambridge: Cambridge University Press.
McPherson, M., Smith-Lovin, L., & Cook, J. M. (2001). Birds of a feather: Homophily in social networks. Annual
Review of Sociology 27, 415-444.
Monitor Deloitte (2015). Accelerating impact: Exploring best practices, challenges, and innovations in
impact enterprise accelerators. New York: The Rockefeller Foundation. Retrieved from https://www.
rockefellerfoundation.org/app/uploads/Accelerating-Impact.pdf
Reich, R. (2014). Inequality, productivity, and WhatsApp. Retrieved from http://robertreich.org/
post/77305875533
Sawers, P. (2015). Y Combinator startups have raised $7B with a $65B total valuation; 8 are $1B unicorns.
VentureBeat. Retrieved from http://venturebeat.com/2015/08/27/y-combinator-startups-have-raised-
7b-with-a-65b-total-valuation-8-are-1b-unicorns/
Staniewski, M. W. (2016). The contribution of business experience and knowledge to successful
entrepreneurship. Journal of Business Research 69(11), 5147–5152.
UNESCO (2013). Creative economy report 2013 special edition: Widening local development pathways.
Retrieved from http://www.unesco.org/new/en/culture/themes/creativity/creative-economy-report-
2013-special-edition/
Unger, J. Rauch, A., Frese, M., & Rosenbusch, N. (2011). Human capital and entrepreneurial success: A meta-
analytical review. Journal of Business Venturing 26(3), 341–358.
Zhao, H., Siebert, S. E., & Hills, G. E. (2005). The mediating role of self-efficacy in the development of
entrepreneurial intentions. Journal of Applied Psychology 90(6), 1265-1272.
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46
Additional Resources
READINGS
ORGANIZATIONS
Alliance for the Arts in Research Universities
b.creative
British Council Creative Economy Programs
Creative Business Cup
Creative Economy Coalition
Creative Europe
CreativeMornings
The Creative City: A Toolkit for Urban Innovators. Author: Charles Landry
The Creative Economy: How People Make Ideas from Money. Author: John Howkins
Creative Industries Report. Author: Americans for the Arts
Future Cities: Driving Growth Through the Creative Economy. Author: The Economist
How Cities Can Nurture Cultural Entrepreneurs. Author: Ann Markusen
A Manifesto for the Creative Economy. Authors: Hasan Bakhshi & Juan Mateos-Garcia, Nesta
The Orange Economy: An Infinite Opportunity. Authors: Felipe Buitrago Restrepo & Iván Duque Márquez
The Otis Report. Author: Otis College of Art and Design
The Rise of the Creative Class, Revisited. Author: Richard Florida
Ciudad Creativa Digital
E. M. Kauffman Foundation
Martin Prosperity Institute
Mideast Creatives, Hivos
Singapore Design Council
UNESCO Creative Cities Network
Upstart Co-Lab

B E A V I S I O N A R Y.
BE UNABASHED ABOUT
WHAT YOU WANT TO SEE
HAPPEN IN THE WORLD.
“
“
© 2017 Creative Startups
creativestartups.org

Creative Startups 2016-2017 Impact Report

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