The Microfinance for Artists Research Project is an Ontario-based program that hopes to provide small credits to professional creatives in the Canadian province. Microfinance, well, at least the term itself, is said to have originated with Muhammad Yunus' Grameen Bank in the 1970s and has been replicated in many ways throughout the globe. However, it's taken off with a little less gumption in the Western World.
But many projects like this one are re-appropriating what the so-called development scene has come to think of as microcredit. "The long-term goal of the project is to improve artists’ socio-economic status," MARP wrote on its very first blog post, which was published on January 6, 2012. "We recognized that although in recent years artists have been encouraged to improve their business skills and see themselves as entrepreneurs, they often lack access to the important business tools of credit and capital."
Contact Information
MARProject blog
Microfinance for Artists Research Project on Facebook
Creative Credit Programs
The Microfinance for Artists Research Project Focuses on Socio-Economics
Trend Themes
1. Microfinance for Artists - Disruptive innovation opportunity: Implementing microfinance programs specifically designed for artists to improve their socio-economic status.
2. Re-appropriating Microcredit - Disruptive innovation opportunity: Rethinking and redefining microcredit to meet the specific needs of artists and creatives in the Western World.
3. Access to Credit and Capital - Disruptive innovation opportunity: Developing new business tools and platforms that provide artists with easier access to credit and capital.
Industry Implications
1. Microfinance - Disruptive innovation opportunity: Integrating microfinance principles into existing financial institutions or creating specialized microfinance institutions for artists.
2. Creative Industries - Disruptive innovation opportunity: Expanding support systems and platforms that cater to the unique financial needs of professionals in the creative industries.
3. Fintech - Disruptive innovation opportunity: Leveraging technological advancements to develop innovative fintech solutions that facilitate credit and capital access for artists.