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Valencia

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Like other Mediterranean cities, Valencia has been negatively affected by the economic crisis with special impact on the design, innovation and creativity sectors. After hitting bottom in the period 2010-2012, and in the absence of evidence and empirical data, it could be said that there are reasons for optimism and that the City is at the beginning of a kind of renaissance.
This could be attributed, on the one hand, to the importance that the design and creative sectors have traditionally had in the City, something that is increasingly valued, while at the same time transitioning to a new productive model based on digital entrepreneurship, to turn Valencia into a pole of innovation that can attract talent, with the support of public administration, various start-ups, and some actors from traditional sectors.
On the other hand, it is important to note the change in political direction the City has undergone since 2015, which has translated into a new type of public governance that is, in turn, a consequence of, and makes it possible, taking advantage of this regained interest in design, innovation and entrepreneurship.
Parallel to the above trends, a third very interesting factor in relation to innovation and creativity is that multiple private and citizen initiatives, of lesser or greater scale, related to culture and the arts, have been emerging in the last decade, in the form of small neighbourhood festivals, private foundations, and large cultural and artistic facilities.
Despite this optimistic view, it remains true that the return to standards prior to the economic crisis in indicators, such as public investment in culture and R&D&I, access to finance by entrepreneurs, or the consumption of cultural products and design by citizens is being slow, mirroring the pace of economic recovery. But as has been said before, there are reasons to think that a change of cycle is happening, where the commitment to innovation and design will be a permanent feature.

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