The UK Government has launched its £4m Video Games Prototype Fund in an effort to create jobs and encourage growth across the games development industry.
Grants of up to £25,000 will be available to new and growing games developers working on prototype titles, with a limited number of £50,000 grants open to companies looking to evolve their ideas beyond the prototyping stage.
The Prototype Fund will run from 2015 to 2019, and builds upon a previous scheme run by Abertay University since 2010. It is aimed at start-ups and micro-businesses, with the hopes of nurturing new talent.
“We lobbied for this kind of support and we are pleased to see the Fund launch,” said UKIE CEO Jo Twist. “It has enormous potential for the future of the UK games industry.
“Access to finance has been an on-going challenge for small and micro games businesses, and the financial support of the fund, as well as the mentoring opportunities that are provided, will open doors to a huge amount of unearthed games talent in the UK.”
TIGA CEO Richard Wilson added: “The new £4m Prototype Fund is another arrow in the quiver for the UK video games industry and one which TIGA has consistently campaigned for. The new Fund will help individuals, start-ups and small games studios. The Fund will enhance skills, improve access to finance and advance regional games clusters.
“The UK video games industry contributes over £1.1 billion to UK GDP. This Fund, allied with Games Tax Relief, R&D Tax Credits and the Seed Enterprise Investment Scheme, will further improve the industry’s access to finance and so contribute to the future success of the sector.”