Creative businesses can tap into regional funding pot
CREATIVE businesses in the North of England and Midlands 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 is Birmingham, firm Portal Entertainment, which creates thrillers for the digital age and The Floow, in Sheffield, which is creating a smart phone application to capture and analyse location information and driver performance data for third party organisations.
Creative England’s Business Investment Fund 2 is open to SMEs based in the North, West Midlands and the South West.
