Living in the North of England the subject of economic regeneration is always a hot topic. Where will the growth and jobs come from? The strategy changes with fluctuating budgets and political dogma, but there is a constant belief in 'build it and they will come'. You can see this belief played out in high speed rail, technology parks or incubator hubs.
I was a fairly good history student because my lecturer always told me I had empathy. My empathy with the past was built on a belief that the same fears and hopes that drive people today, drove people 300 years ago.
If you look back to the Renaissance, money and art went hand in hand. Artists depended totally on patrons while the patrons needed money to sustain geniuses. Wealth was brought to Italy in the 14th, 15th, and 16th centuries by expanding trade into Asia and Europe.
Today 'money' is angel investors and private equity and 'art' is creativity. If we can create an environment that encourages private money to take a risk on a great idea, big things can happen. We are still looking to expand trade with Europe and Asia. The highest value thing we can export? Ideas.
Take away the barriers to lending in new ideas and investors desire to back the next big thing and make a pile of money will look after the rest. The UK, the North, Leeds, are awash with big ideas, some will work and some won't.
Where is the UK's Facebook or Amazon? Probably sat in Starbucks, using the free wifi to write a business plan and wondering where the hell the money will come from.
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