CreaTech ‘has the power to help the soul’ after Covid-19

Kane Fulton, June 16, 2021 2 min read

Leaders from the UK’s digital and creative industries have been discussing the future of the UK’s CreaTech sector at CogX 2021.

‘CreaTech’ is used to describe companies that use tech for the delivery of creative industries, services and products.

Examples in the UK include digital entertainment platform Moonbug, holographic display tech company VividQ and immersive experiences creator Dimension.

Another, Tech Nation Rising Stars 3.0 regional winner Data Duopoly, has trialled an app with Cornwall’s Eden Project that uses a traffic light system to show visitor capacity.

The 2021 CogX festival opened its CreaTech stage on Monday with an event that aimed to demystify the nascent sector for visitors who attended both in-person and online.

MP Caroline Dinenage said CreaTech can ‘help the soul’ after Covid-19

It preceded the launch of Tech Nation’s second CreaTech Report, which explores trends around jobs and skills, investment and future growth in the sector.

Investment in UK Createch is forecasted to increase 14% year-on-year to reach a record £1.1B in 2021. At 35%, only Climate Tech is expected to see a higher growth in VC capital.

Caroline Dinenage, Minister of State for Digital and Culture at DCMS, said “miraculous advancements” in areas such as VR and augmented reality have allowed people to feel “part of the action”.

“I think CreaTech has the power to help the soul and help us recover from some of the harrowing experiences of the last 18 months,” she said.

Government support

The analysis was commissioned from Tech Nation by the Creative Industries Council, a joint forum between the UK creative industries and government, in association with Digital Catapult and Moore Kingston Smith.

Digital Catapult CEO Dr Jeremy Silver praised DCMS for helping to build investor confidence in creative businesses while helping them scale up through its Creative Scale Up Programme.

Last year DCMS launched a £30m support programme to help launch six R&D projects aimed at encouraging the use of 5G technologies in a creative context.

Tech Nation Chair Stephen Kelly talked CreaTech at CogX 2021

‘Already having a massive impact’

The median CreaTech salary is £35,054, which is 11% higher than the UK median of £31,461.

Tech Nation Chair Stephen Kelly said the sector’s ability to create high value jobs in innovative companies across the UK aligns with the UK Government’s ‘Levelling-Up’ agenda, which aims to support local economic growth following Covid-19.

The sector’s transformative potential is already being seen in key industries that are well-supported by academia, Stephen added.

“CreaTech solutions are already having a massive impact and the sector is going to radically change the design industry and museums, events, fashion, film and architecture,” he said.

“It bodes very well for the future because these are areas where the UK has had a traditional level of excellence and are supported within our brilliant academic institutions, having four of the global top 10 universities.”