Would-be digital businesses risk missing out on funding

For immediate release: 10am, Thursday 12 September

Would-be digital businesses are being urged not to miss out on potentially vital development funding.

Applications close in just under one week (5pm, Wednesday 19 September) for the latest funding round at the Abertay University Prototype Fund.

The Fund is offering £25,000 grants for start-ups and young companies UK-wide who are creating new prototype games and interactive digital media. Applications should be made at the Prototype Fund website < http://prototypefund.abertay.ac.uk/> .

In the two years since it was launched, the Prototype Fund has received more than 250 applications, from which over 40 start-ups and SMEs have been awarded funding. One company went on to secure an £800,000 investment after initial funding of just £25,000. That business is currently preparing for launch behind closed doors.

Kirsty Gibson, Project Manager for the Fund, said: “This is an excellent, risk-free way of new and young companies raising enough money to build a small game or prototype.”

As well as improving access to funding in an environment where bank loans can be very difficult for young companies to secure, the Fund can also offer funded companies the option of studio space, high-end computers and industry-standard software here at Abertay.

Kirsty added: “The Fund is much more than just a pot of money and resources, though.  We also have a Talent Pool of extremely capable graduates across the UK, hungry for experience and success and available for hire by funded companies.  They can add a lot to your business while keeping costs low.

“Over the last two year, we’ve learned a great deal; from what opportunities are out there already for SMEs, to how much talent there is out throughout the UK. The Fund was set up to allow that talent to go on to build sustainable business, the £25,000 grant on offer is merely a foundation to that business.  

“Given the rapid rate of change in the industry at the moment it's a great time for small developers to move quickly and beat their larger rivals, opportunity is rife. The Prototype Fund allows them to do that.”

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