A consortium of breakthrough indie developers is on the hunt for the industry’s best breed of aspiring developers.

Known as Indie Fund, the initiative is formed by the likes of World of Goo creators Ron Carmel and Kyle Gabler, and Jonathan Blow of Braid fame, and Kellee Santiago of fl0wer's thatgamecompany.

The famed game designers – who each had to cut their own teeth in the obscure indie game scene – are now calling for game submissions to evaluate.

“Our aim is to support the growth of games as a medium by helping indie developers get financially independent and stay financially independent,” read a company statement.

Successful applicants will be awarded funding on a monthly basis to cover production costs.

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If a game is backed, its creators will have to start repaying the fund in full over instalments, as well as hand over a “small percentage” of revenue. However, if the game fails commercially, repayments are cancelled.

The organisers of the fund are hoping to invest in as many as six projects over the next three years.