New million pound funding pot targets creative types
CREATIVE businesses in the Midlands and the North of England are being encouraged to seek interest free loans from a new £1m funding pot.
Supported by the Government’s Regional Growth Fund, Creative England’s £1m is available in the form of interest free loans of between £60,000 and £100,000.
It is open to SMEs who are looking to develop new software, applications and content for the following markets:
• Games and Interactive Entertainment
• Business To Business
• Feature film production
• Cross Platform TV development
• Healthcare
• Feature film production
• Government Services
• E-Learning
• Mobile applications
Business minister Michael Fallon said: “Creative England’s new investment fund from the Regional Growth Fund is fantastic news for the creative industry.
“The funding will be vital for giving those SMEs in the sector better access to finance and maintaining the UK’s reputation for innovation and creative ideas.
“The Regional Growth Fund is helping to kick-start British business and is the Government’s commitment to encourage long-term employment, boost private sector growth and lead to a more balanced economy.”
Creative England’s director of business development Jim Farmery said: “Creative businesses bring energy, enterprise and innovation to cities and regions across England. Our funds support companies with innovative ideas for content development that have commercial potential but are struggling to get off the ground.
“Our first Business Investment Fund is already helping to develop pioneering projects as well as create and safeguard jobs in the regions from Newcastle to Newquay.
“This is another great opportunity for SMEs to benefit from investment as well as our business support service and we look forward to hearing from them.”
Amongst those benefitting from Creative England’s first fund are Birmingham firms Portal Entertainment and Soshi Games.
Creative England’s Business Investment Fund 2 is open to SMEs based in the North, West Midlands and the South West.
