Creative England kicks off £1m investment fund
Tuesday, 31st July 2012 at 9:56 am
Interest free loans between £50,000 and £100,000 available to small and medium-sized firms
Creative England has launched a new £1m national business development fund to support creative and digital businesses across the country.
The fund is open for small to medium-sized companies looking to develop new software and content for sectors such as games and interactive entertainment, mobile applications and cross-platform TV development.
Investment will be available via interest free loans of between £50,000 and £100,000 per application, which will be matched 50/50 with the company sharing the development costs.
Priority is to be given to firms based in the North, West Midlands and South West to support areas overly dependent on public sector employment.
The deadline for registrations of interest in the scheme is August 31st.
The £1m funding is the first part of a £5m investment plan from the Government’s Regional Growth Fund to Creative England.
"Small businesses are the lifeblood of the economy, and we want to encourage more people to discover their entrepreneurial spirit and exploit new opportunities,” said Enterprise minister Mark Prisk.
“This scheme, which has benefitted from the Regional Growth Fund is the right kind of support to help creative and digital businesses get off the ground and develop new and exciting content.
"Whether it's creating jobs or boosting manufacturing capability, the regional growth fund shows the difference that Government and the private sector can make when working together. It is real projects like these which will unlock private sector investment to boost local economic growth and rebalance the economy."
For more information on the scheme, visit the official Creative England website.
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