Seed funding scheme for indie startups

Seed funding scheme for indie startups
Seth Tipps

By Seth Tipps

April 11th 2012 at 9:52PM

UKIE says games companies should jump to Seed Enterprise Investment Scheme

Trade body UKIE has urged game developers to take advantage of the UK's Seed Enterprise Investment Scheme.

The SEIS gives startups a boost by offering tax relief to individual investors.

Investors can give eligible  startups up to £100,000 in a single year, and claim up to fifty percent back in tax relief.

The scheme requires several criteria be met by the company recieving investment:

  • have 25 or fewer employees
  • have no more than £200,000 in assets at the time the investment is made
  • be UK-based
  • be undertaking a new business (be a start-up)
  • not be listed on any recognised stock exchange
  • not have previously raised money under the Enterprise Investment Scheme or Venture Capital Trust scheme

In addition, the company must not be owned by the investor.

Each company can recieve a maximum of £150,000 in SEIS funding.

Ukie has produced a fact sheet for interested developers, which can be accessed here.