BlogEntrepreneurship & BusinessLegal ResourcesStart Up ResourcesObserving the World Creativity and Innovation Day

April 21, 20220
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On words and the importance of dates

 

creativity, noun, the use of imagination or original ideas to create something; inventiveness

– Oxford Languages

 

innovation, noun, the action or process of innovating; a new method, idea, product, etc.

– Oxford Languages

April 21 – World Creativity and Innovation Day

 

Historical background

 

There is no universal understanding of creativity, nor a binding terminology. So why did we define it above? Because definitions help us use the language as a communicative tool. 

(Mission accomplished!)

Marci Segal, the pioneer of this day, who had studied creativity in 1977 at the International Center for Studies in Creativity in Buffalo, USA – was a strong believer that  celebrating the ability to generate new ideas, make new decisions, and achieve results could help people deal with the crisis.

To that end, on April 2017, the United Nations General Assembly adopted a resolution to set  April  21 as the world creativity and innovation day.  Ever since, this day is observed every year in order to raise awareness about the crucial role of creativity and innovation in different aspects of human development.

 

Observing creativity and innovation in 2022

 

When we think about creativity and innovation, our mind goes to startups founders and their ideas on making the world a better place to cohabit. 

 

What is a startup?

 

“Startup” are individuals and natural or legal persons registered in the commercial register of the Republic of Albania, who, referring to the object of their activity, are conceived, created and operate in order to launch and develop a business model, innovative and/or special technological products or services, with potential for rapid growth, applicable in practice, with the purpose of improving significantly the existing business models, products and services.

– Albanian Law on Startups

According to statistics, 2022 will be known as the year of startuppers.  

  • Venture funding will continue, but the investments will be to a smaller cash flow compared to 2021. Predictions have it to reach an amount, somewhere in the middle of $300 billion (the total sum of previous years) and $650 billion – invested last year.
  • 30 companies are expected to go public in 2022.
  • Fintech will continue to keep the throne in the digital industry. With an investment of $131 billion as received last year, predictions foresee the continuation of investments in this sector.
  • Crypto will be Crypto: industry will continue its growth in safe and lucrative grounds. 
  • Cybersecurity costs, but it’s worth it. For the cybersecurity startups in the industry: $21.8 billion was the investment in 2021 (a record on its own). Predictions have it that this year’s investment will break the record. 
  • Startups in the field of biotechnology, real estate and the ones in the longevity sector  will be the ones that will absorb the most investments in 2022.

Overall, investments will continue to flow and tech-based startups will continue to grow.

 

Startups in Albania

 

 

Holding out for a bold representative of the industry?

 

Check out the legaltech startups, whose aspiration is clear: “redimensioning the legal profession by delivering fast and valid legal solutions.”. 

Statistics indicate that their value in the market is expected to be 25.17 billion U.S. dollars by 2025. Until then, you can follow the first albanian legaltech company on its social media:

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