© 2022, Emerald Publishing Limited.Purpose: While the theoretical interaction of the creative and cultural industries and entrepreneurship in business is gaining attention in the literature, such entrepreneurial practices are extending their role and position in the economy and in urban areas undergoing transformation. The purpose of this paper is to contribute to that literature by generating a model that links creative entrepreneurship with urban transformation as places see and expect continuous change and development. Design/methodology/approach: The authors adopt a conceptual approach, embedded in a triple helix model, of creative entrepreneurship and urban transformation of the Baltic Triangle area of Liverpool, England. The authors inform this through a case study analysis, including qualitative interview data relating to the Baltic Creative. Findings: The authors demonstrate the need for interdisciplinary research to assess value creation, value delivery and innovation as contributors to urban transformation based on creative entrepreneurship, while at the same time resulting in creative placemaking. Research limitations/implications: This is a conceptual paper that will be used to frame future empirical research on generating additional insight by interviewing key actors to heighten understanding of innovation, value creation and value delivery process of placemaking, creative change and urban transformation. Practical implications: This work can help inform creative policymaking, planning and development to achieve both social and economic impacts for a place and the wider region. Originality/value: The authors both contextualize and show the transferability of the model, using the example of Liverpool’s Baltic Creative in Liverpool’s Baltic Triangle area of the city, highlighting the impact of creative change.