UK investment board seeks funding suggestions

UK investment board seeks funding suggestions

By Rob Crossley

October 22nd 2009 at 4:01PM

Technology Strategy Board ready for new round of investment in digital firms

The UK games industry has been called on to tell its government how best to use the multi-million pound war chest reserved for the digital sector.

The government-backed Technology Strategy Board (TSB) was set up in 2008 and provides cash injections to various digital media companies. In September last year it gave MMO and middleware developer Monumental as much as £300,000.

Now the TSB is asking developers to visit its website and share ideas on where the money should go.

“We’ve worked with around 100 key organisations and industry leaders from the creative sector to write the report and identify which areas we should focus on for the highest returns to the UK creative economy,” said TSB specialist Jeremy Silver.

“Now we want to hear from those working in the gaming sector on how best we can work towards meeting these priorities, which will have a direct impact on where future funding goes to achieve the biggest impact.”

Silver stressed the importance the UK games industry has for the nation:

“With the creative sector contributing a Gross Value Added figure of 6.4 per cent to the UK economy and direct employment to around 1.15 million people, it is important we really make the most of this opportunity to ensure protect and grow the future profitability and competitiveness of the industry.

“The strategy aims to get the creative industries working more closely together to fully exploit new commercial opportunities and, by getting involved in shaping its delivery, gaming professionals have a great opportunity to influence investment programmes they stand to directly benefit from.”

Silver will also chair a live oline panel debate called ‘Digital Horizons: Commercialising Innovation’, set to take place 2 November at 12 noon.

TSB’s next application period for investment is expected to open in spring 2010. Its funds will be awarded through a series of peer-judged competitions, based on the priority areas identified in the strategy.

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