New start-up funding – Abertay Prototype Fund opens next investment round

For immediate release: Monday 12 March

Entrepreneurs looking to launch a new digital company or develop a new game or software product can now apply for up to £25,000 from the University of Abertay Dundee’s Prototype Fund.

Applications to this fourth funding round should be made at http://prototypefund.abertay.ac.uk/

The Prototype Fund model has already proved a success, with one initial £25,000 investment attracting an extra £800,000 of private funding to bring a game to market.

A small initial investment bridges the extremely difficult financial gap that stops great teams with great ideas: without funding to develop a working prototype it can be impossible to attract further investment to build a sustainable business.

Tom Naylor, Director of Two Monocle Games, said: “The Prototype Fund has given me the resources and help I need to make ‘Cult Leader’ a reality. It provided me with talented students, enough funds to support my team during production, and software, hardware and office space that would otherwise be a massive drain on company resources.

“The Prototype Fund can provide a unique opportunity for anyone wishing to start out on their own. If you dream of independence or the chance to make your idea a reality then you should definitely apply. This is the chance to take the best game concept you ever had and start building it.”

Facebook game ‘Cult Leader’ is due for release soon, and is a satirical social game in which you build a cult from your online friends. Like the company’s Facebook page at http://www.facebook.com/TwoMonocleGames to hear when the game is released.

Paul Durrant, Director of Business Development at Abertay University, said: “The Abertay University Prototype Fund has received over 150 applications to date, showing that the UK is struggling to finance creative start-up companies.

“This market failure has real implications for economic growth and the creation of new jobs, but initiatives like the Prototype Fund are helping to unlock this trapped value in the economy.”

He added: “We’re looking for talented teams with commercially strong ideas. Successful applicants to date have developed prototypes of social and mobile games, and software products for analytics and project management.

“And all successful applicants have the opportunity to work within Abertay University, right at the heart of the growing Dundee computer games cluster, with access to some of the most talented games graduates anywhere in the world.”

The Prototype Fund is backed by investment from Abertay University, the Department for Business, Innovation and Skills with the Department for Culture, Media and Sport, and the Scottish Government through the European Regional Development Fund.

Applications to the fourth funding round close at 12pm on Friday 13 April. All applications must be accompanied by a short YouTube video.

For full details, and to apply, please visit http://prototypefund.abertay.ac.uk/

(Ends)

For media enquiries, please contact Chris Wilson (Communications Officer) – T: 01382 308522 M: 07837 250284 E: chris.wilson@abertay.ac.uk  


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