13 Sep CreativeTech: the face of the future
Creative startups are scaling to unprecedented levels through the use of AI, AR, VR, and blockchain. These and other advanced technologies are fueling the growth of traditional industries such as architecture, arts and crafts, marketing and advertising, media and publishing, R&D, software and computer games.
Even in the early stages of these technologies, the creative economy has been more resilient than most. The global market for creative goods doubled from $208 billion in 2002 to $509 billion in 2015, according to the UN Conference on Trade and Development (UNCTD).
Companies that understand how to integrate technology will outpace and out-compete the rest.
As We Are Now, based at creative hub 657 Oslo, is one example of how technology can be used to scale a traditional industry. The startup has designed an entire line of sustainable fashion that is produced in Portugal using nanotechnology. They are working to create a smart supply chain that will leverage AI learning and robotic production to reduce waste and adapt to customer preferences.
“We connect fashion communication, wellness and tech in a new way to redefine and upgrade traditional categories. Our company designs smart products that makes life easier and more convenient for modern women,” says founder Anette Miwa Dimmen, adding that technology is an integral part of the company.
“While the clothing is created by designers, the fabrics are very technical. These future fabrics are durable and practical yet luxurious and closer to skincare in that they are good for your skin, non-toxic, and devoid of toxic chemicals,” Dimmen underlines.
Jakob Palmers, co-founder of Graphiq, another fast-growing startup at 657 Oslo, explains, “Technology is a tool that enables people and should be used to automate what’s really boring.”
His company Graphiq is a platform that matches companies with creative talent. At 657, he has connected with investors that understand the CreativeTech industry and its potential.
“After our initial investment, we have taken something that really works and have been able to show that we can scale product and sales processes giving predictable results. We planned for this and our approach have enabled the growth that we are seeing now,” he says.
The community at 657 Oslo has propelled several startups into an accelerated path toward investment. The hub’s network of investors and corporate partners is specifically geared for CreativeTech companies. Other headliner companies at 657 Oslo are Vev, timetoRiot, and inzpire.me.