Newark Symphony Hall To Host First Black Creative Economy Summit In NJ

Making its inaugural debut, the Black Creative Economy Summit will be hosted by the Newark Symphony Hall (NHS) to help support Black artists and entrepreneurs.

Calling itself New Jersey’s largest and oldest Black arts institution, the NHS declares the three-day event June 20-22 in Newark, N.J. its hosting will be the first ever of its type in the city and state.

Part of the state’s North to Shore Conference, the affair intends to foster investment opportunities for entrepreneurs and artists in media, performing arts, technology, film and advance the power of the Black creative economy. It also aims to link BIPOC entrepreneurs with potential investors and mentors to help scale up their businesses.

The Newark summit will showcase a diverse and distinguished mix of industry leaders and tastemakers from sectors including entertainment, business, and tech, to empower creatives at all career stages.

Reportedly attendees will include David Banner, Grammy Award-winning rapper, record producer, and philanthropist Jeffrey Page; Emmy-nominated director and choreographer Sway;  American journalist, radio personality and executive producer Lenny the Barber. The Other Side of Newark, a musical project led by multi-award-winning producer, Jerry Wonda, will perform.

Talia L. Young, president and CEO of NHS, stated,

“The Black Creative Economy Summit is geared to acknowledge the financial impact of artists and promote ownership while celebrating the rich heritage and contributions of Black creators in Newark, throughout New Jersey and beyond.”

She added, “The event will provide a platform for artists, industry professionals and investors to come together, exchange ideas and drive positive change within creative industries.”

The event may very well be needed, considering Black startups collected $324 million in venture capital funds in the second quarter of 2022. However, that dropped from $1.2 billion in the first quarter of 2022 and from $866 million in the second quarter of 2021. The figures are from the analytics firm, Crunchbase.

At the same time, Blacks and other minorities make up a scant number of fund managers, though some progress has occurred in recent years. Across America, 5.1% of private-equity firms are owned by minorities, including Blacks, Latinos, and Asians, based on this report.

Gain more details about the event and its agenda, speakers, and performers here.