Creative Economy Investment Fund
Generating Business Growth. Fostering Creative Innovation.
Overview
A strong for-profit creative economy is vital to the economic growth of the Greater Philadelphia Region. Innovation Philadelphia has created the Creative Economy Investment Fund (CEIF) to support the growth of the Region's for-profit creative economy businesses by providing pre-seed and early-stage investments that range from $25,000 to $150,000. Innovation Philadelphia will work with applicants to identify other investment funds for those creative economy businesses that qualify for the CEIF and are seeking larger investments.
The Creative Economy Investment Fund welcomes investment proposals from for-profit creative economy businesses based in the Greater Philadelphia Region. The for-profit creative economy incorporates many industries including but not limited to: architecture, interior and industrial design, engineering, planning, marketing, graphic arts, software development, information technology, digital media, fashion design, music production, film and video production, design and merchandising, product design, multimedia design, photography, and communications.
Criteria for Creative Economy Investment Fund Applicants
- Meet the definition of a business within the for-profit creative economy consistent with the industry categories listed above
- Facilitate or enhance the growth of the Philadelphia Region's Creative Economy
- Headquartered or important operations and jobs in the Greater Philadelphia Region
- Privately held company
- Generate new jobs and increases tax revenues
- Add value to Innovation Philadelphia's investment portfolio
- Strong management team
- A business plan where success is achievable
Types of Securities
The Creative Economy Investment Fund makes investments using a variety of securities, including debt, equity, and combinations of debt and equity in order to execute its strategy. Flexibility of investment structure and terms are critical to encouraging entrepreneurs to start and grow creative economy business in the Greater Philadelphia Region and to meet the investment needs of potentially successful creative economy businesses.
Process for Applying to the Creative Economy Investment Fund
The application for the Creative Economy Investment Fund is an online process. The process for investment applications is as follows:
- Applicant applies on-line, and attaches business plan and other supporting documents.
- Application reviewed by the Creative Economy Investment Fund Administrator.
- Creative Economy Investment Fund Administrator conducts due diligence on applicants that meet the criteria.
- Qualifying applicants make a presentation before Innovation Philadelphia's Investment Committee.
- Innovation Philadelphia's Investment Committee determines which qualifying applicants will receive investments
Download Creative Economy Investment Fund information (PDF, 1.7MB).
For more information about the Creative Economy Investment Fund, please call 215-496-8110.