LDA boost for London-based business: mayor launches initiative to make the capital the world's premier location for creativity.(Industry)

London's music community is to receive a significant boost through a massive new creative industries initiative launched by mayor Ken Livingstone's London Development Agency.

Entitled Creative London, the venture launches today (Monday) and has the remit of putting the capital back on the map as the world's centre for creativity.

Creative London chairman Michael Frye says that the concept came about after a study by the mayor's commission for the creative industries. "Creative talent is not promoted, showcased or distributed enough," he says. "Talent is not getting enough backing and we aim to change that by providing support in the community."

Tapping into all the creative industries, the organisation aims to help lift the revenues the capital's creative sector brings in annually from the current level of 21bn [pounds sterling] to 32bn [pounds sterling] in 10 years' time. Frye says the sector employs more than 500,000 people and is responsible for one in five of all new jobs created in London. Creative London also hopes to help create 200,000 new jobs in the creative industries within a decade.

"We're in the process of establishing a music industry think tank to examine areas where we can get involved in intervention activity," says Frye.

Explaining the intervention concept, Frye says, "For example, in the film industry we are helping to unblock location issues in London. We're also providing 3m [pounds sterling] of funding to Film London."

Creative London aims to target talent at grassroots level and wants to set up 10 hubs to provide a focus for creative businesses. These will provide workspace plus exhibition, showcasing, marketing and networking facilities and will ensure that talent has access to high-quality advice and support.