Africa Creative Market uncovers lucrative business opportunities in Africa’s creative industry

By Onome Amuge.

The Africa Creative Market, an annual event that promotes collaboration and innovation in the creative economy, is set to take a significant step forward by placing a strong focus on protecting intellectual property rights and harnessing the power of technology.

The event, which will take place from November 2-7, 2023 at 21st Century Technologies and Glover Memorial Hall, will bring together key players from the African and international creative industries and offer a unique platform for a wide range of creatives to showcase their talents.

The exciting new development will involve collaboration with strategic partners including Paramount Africa, U.S. Consulate Lagos, 21st Century Technologies, Venture Garden Group, The HOW Foundation, WIGWE University, RivExcel, Global Tech Africa, TRAIL, NITDA, ALTA Global Media, FWIFT Nigeria, WIFT Africa, Festival Le Teranga, WIFT Senegal, The Luxury Network, The YD Company, Eden Venture Group, Lagos Continental, Glover Memorial amongst others.

This collaboration demonstrates the event’s growing global reach and its dedication to promoting sustainable economic growth within the creative sector.

The Africa Creative Market has evolved into a global stage that celebrates the richness and diversity of African creativity and offers lucrative and rewarding opportunities for both local and international investors. By focusing on intellectual property and technology, the event aims to revolutionise the creative industry, creating a lasting impact that goes beyond the event itself.

The Africa Creative Market platform provides a range of opportunities and support for creatives in Africa, including training programs, investment opportunities, and access to trade finance. U.S. Consulate Lagos and the Bureau of Economic and Business Affairs partner with the event to promote intellectual enforcement and best practices, and to train fashion creatives on the Africa Growth Opportunity Act (AGOA), which facilitates trade between the U.S. and Africa.

The National Information Technology Development Agency (NITDA) NITDA, a government partner of the event, supports the creative sector through initiatives like the Startup Act and the Creative Technology Programme (CTP). Venture Garden Group’s TRAIL platform provides tools and resources to support entrepreneurs, and the HOW Foundation’s WIGWE University offers specialized training and mentorship programs. Ascend Studios Foundation also enhances capacity-building efforts. These organizations work together to understand creative trade and empower creatives to achieve their goals, based on data-driven insights.

Africa Creative Market is a premier event in the creative industry, attracting attendees from all over the world. In 2022, over 10,000 people from 28 countries participated in various activities including conferences, pitch sessions, panel discussions, creative market activities, funding sessions, networking events, and concerts.

In addition to the main event, the Women in Film and TV International (WIFTI) Summit was also hosted, bringing together a diverse group of attendees.

ACM 2023 will focus on sectors such as Film/TV, Music, Fashion, and Dance, as well as sub-sectors including Advertising, Games, Cultural Education, Edutainment, VR/AR, and Photography. The event aims to empower creatives in Africa by providing them with opportunities to scale their businesses.It is supported by organizations such as Paramount Africa, MTVBase, U.S Consulate General Lagos, and the National Information Technology Development Agency (NITDA). The platform’s mission is to provide creatives with the blueprint for establishing commercially viable and sustainable business models.

Inya Lawal, founder of ACM said the organization’s mission is to empower creatives to scale their businesses by providing a blueprint for establishing commercially viable and sustainable business models.

Bada Akintunde-Johnson, country manager for Paramount Africa in Nigeria, emphasized that the Africa Creative Market is committed to strengthening Africa’s creative ecosystem for profitability, sustainability, and global recognition.

“ACM aims to create access to replicable models, structures, and the international market. Bada Akintunde-Johnson highlights the impact of MTV Making the Video in training the first generation of music video directors in the early 2000s, which acted as a catalyst in transforming the industry,” he said.

Akintunde-Johnson also indicated ACM’s focus on providing training, sharing knowledge, teaching trade secrets, and facilitating networking opportunities. The ultimate goal is to showcase the remarkable talents of figures like Fireboy, Buju, Genevieve, Chimamanda, and others to the world.