Small digital businesses urged to apply for new funding

Small businesses in the digital creative sector in Warwickshire are being urged to tap into a new round of £350,000 worth of funding to help them grow.

Warwickshire County Council has launched a second round of its Digital Creative Recovery Grant scheme aimed at small and micro businesses that have been in business for at least three years.

The grant was created in January to assist businesses with product development or key activities that lead to obtaining further private sector investment.

Leamington Spa-based digital studio Yellow Panther benefited from the first round of funding and its £30,000 grant went towards software designed to get a new product out to market and led to the creation of jobs.

Yellow Panther co-founder Stuart Cope said: “The grant helped us massively at a really important time.

“We spent 18 months building an exciting new platform but also have 25 current clients to serve so we are very busy, so the grant eased the pressure a lot.

“We invested the money in two full-time roles and one part-time role to create the marketing materials around the new product.

“The process of getting the grant was really smooth. Stacy O’Connor and Louisa Smith from Warwickshire County Council were very supportive and flexible and always quick to respond. They were really refreshing to deal with.”

The initial success has led to Warwickshire County Council launching a second round of match-funded grants between £10,000 to £30,000 with applications welcome until a deadline of 5pm on October 6, 2023. 

It is designed for businesses that are already looking to raise finance to grow but are facing challenges in securing private sector investment, or those accelerating activities to put them in a position to raise additional finance.

As part of their application, businesses will be required to evidence their growth plans and demonstrate how the funding will bring them closer to achieving those ambitions.

Warwickshire County Council’s Business Growth Team will be available for an informal initial chat to ensure eligibility for the fund before businesses will be invited to make a full application.

Cllr Martin Watson of Warwickshire County Council said: “The first round of the Digital Creative Recovery Grant was a great success in supporting businesses with their growth plans and we are delighted to offer this further opportunity in one of Warwickshire’s key economic sectors.

“The first round of funding was very competitive and we are excited to see what innovative products and services are brought forward for consideration this time round.”