For immediate release: Wednesday 6 June
What’s the simplest, most risk-free way to launch a new high-tech company? The Abertay Prototype Fund is offering £25,000 grants in its latest funding round.
The Prototype Fund funds start-ups and young companies UK-wide who are creating new prototype games and interactive digital media. Applications should be made at http://prototypefund.abertay.ac.uk/
As well as improving access to funding in an environment where bank loans can be very difficult for young companies to secure, funded companies have the option of studio space, high-end computers and industry-standard software in the University of Abertay Dundee.
The Prototype Fund model has proven a success already, receiving over 200 applications, funding 35 projects, and with one funded company securing an £800,000 investment after initial funding of just £25,000. That business is currently preparing for launch behind closed doors.
Dundee-based Proper Games is another success story – it recruited the graduates who worked on their Prototype Fund project as full-time employees, to continue its development and also work on a new Facebook title.
Paul Durrant, Director of Business Development at Abertay University, said: “This is an excellent, risk-free way of new and young companies raising enough money to build a small game or prototype.
“Applications to the Prototype Fund so far have shown massive untapped economic potential right across the UK.
“Unlocking all these potential new companies with a small upfront investment is a targeted, efficient way of boosting Britain’s economic growth – and the strength and breadth of our superb creative industries.”
Companies receiving up to £25,000 also get business mentoring and access to Abertay University’s computer games industry contacts.
Prototype Fund recipients can also recruit talented graduates to support their project, in turn improving UK-wide skills level in this creative, high-growth sector.
Applications must be made by midday on Wednesday 18th July. Full details are available at http://prototypefund.abertay.ac.uk/