“Design for Growth” was originally printed in Focus, Deutsche Bank America’s Spring/ Summer 2012 Newsletter. To read the complete article, please visit www.db.com.
Read more about Deutsche Bank America's partnerships with the arts.
Deutsche Bank has a long history of supporting institutions that link creativity and design to economic growth, environmental sustainability and community development. Pratt Institute and the Pratt Center for Community Development are among its strongest partners.
“Designing New York’s Future,” a new report by the Center for an Urban Future, documents the critical role New York’s design colleges play as catalysts for innovation, entrepreneurship and economic growth in the city.
Drawing from institutional data, survey results, and interviews with representatives from New York’s design and architecture communities, the report places Pratt Institute on the leading edge of innovation and design entrepreurship in Brooklyn and New York City at large.
“Pratt Institute and the Pratt Center demonstrate the transformative impact design can have on the local economy and community,” says Mike Pratt, Chair of Pratt Institute’s Board of Trustees. “We’ve known for a long time that the arts play a central role in increasing quality of life. Pratt is proving they are also essential to the bottom line.”
Much of the Institute’s work to fuel the creation of new businesses is through the Pratt Design Incubator for Sustainable Innovation, which was founded in 2002 by Pratt alumna and professor Debera Johnson to help student thesis projects move toward viable commercial enterprises. . .
Based in the Brooklyn Navy Yard, the Design Incubator has helped launch more than 25 businesses in fields including clean teach, social innovation, fashion design, design consulting, furniture design and product design These businesses collectively support 60 jobs and generate $4 million in revenue per year.
The Design Incubator’s track record of helping new entrepreneurs succeed is also due to the interdisciplinary approach to design and education at Pratt, where students are encouraged to work with peers in other disciplines to find new ways to solve their problems. Their experience at Pratt allows the nearly 1,200 that graduate each year to transition easily to creative careers.
*Photo courtesy of bormang2.