A new umbrella company has been created to oversee the increased commercialisation and development of the creative industry sector.
Speaking at the weekly post-Cabinet media briefing at the Diplomatic Centre in St. Ann’s, Minister of Trade, Industry and Investment, Vasant Bharath announced the creation of Creative TT.
The Minister explained that smaller companies, Film TT, Fashion TT and Music TT will fall under Creative TT.
“This main holding board will be stocked with people who have had experience in commercialising the product to make it a main form of revenue. We will look at how we can commercialise the products coming out of this in a very short time,” Bharath explained.
Bharath said for too long the creative industry sector has been the subject of significant government funding which has led to a culture of entitlement “as they continue to be funded without any bench mark to determine if the sector is growing.”
The Minister noted that the mandate of Creative TT is to stimulate the business element of the creative industry in an effort to generate wealth. “We can no longer say it is business as usual as we have to look at things in a transformational perspective. We want to place Creative TT on a world stage to market our products.”
Bharath noted that there has been extensive consultation and wide agreement on the creation of Creative TT, explaining that each company under Creative TT would be different and report into the main board- Creative TT.