£4 Million Fund to Boost UK Video Games Industry
A new £4 million fund to help boost the UK’s growing video games industry has been launched by Government today.
A new £4 million fund to help boost the UK’s growing video games industry has been launched by Westminster.
Aimed at helping smaller companies get concepts off the drawing board and into production, the fund will provide additional support to the sector which has already given the world global blockbusters like Tomb Raider, Little Big Planet, Runescape, Monument Valley and Batman: Arkham Knight.
Over the four years from 2015 to 2019, the Video Games Prototype Fund will offer grants of up to £25,000 to support video games projects, as well as creating jobs, nurturing talent and furthering the growth of games clusters all around the UK.
The Fund forms part of a package of measures Government has introduced for the sector including the highly successful tax reliefs.
UK Government Minister for Culture and the Digital Economy Ed Vaizey said:
“Britain’s video games punch well above their weight internationally and we need to build on this and invest in the strength of our creativity. This fund will give small businesses, start-ups and individuals the support they need to better attract private investment and go on to create the blockbusters of tomorrow.”
The UK’s video games industry currently generates more than £4.5 million* a day for the UK economy and directly employs more than 19,000 people. It’s undoubtedly one of our biggest success stories and this Fund will help young companies to raise the private investment necessary to see a concept turned into a finished product, helping to maximise the contribution to economic growth this sector is already delivering."
The Prototype fund will build on a previous government-supported scheme, which was successfully run by Abertay University between 2010 and 2014.