Creativity, although often associated to just the arts and culture, is a multifaceted undertaking which displays economic, cultural, and technological features. Thus, the acts of starting a new firm, of producing an artistic event, and of inventing a new process/product are all outcomes of creativity that respectively belong to the economic, cultural, and technological realm. According to Schumpeter (1934:93) [1] , the factor connecting these three types of creativity together is entrepreneurship.
Entrepreneurship in the broad sense, along with the emergence of creative industries, has been shown to be a major determinant of economic growth at both the national and regional level (Audretsch 2007) [2] . Audretsch and Keilbach (2005) [3] indicate a direct link between entrepreneurship capital, a specific type of human capital referring to the capacity of a region to generate entrepreneurial activity, and regional economic growth.
Creative industries based on knowledge, originality, imagination and innovation, emerge worldwide as leading factors in the formation of competitive advantage at the local and regional level. In the extensive interdisciplinary academic debate under progress it is argued that cities and regions hosting creative - cultural industries exhibit rising growth rates, high employment rates, economic development and social cohesion.
[1] Schumpeter, J. A. (1934). Theory of economic development. Cambridge, MA: Harvard University Press.
[2] Audretsch, D. B. (2007). The new entrepreneurial society. Oxford: Oxford University Press.
[3] Audretsch, D. B., & Keilbach, M. (2005). Entrepreneurship capital and regional growth. Annals of Regional Science, 39, 457–469.