Seed funding scheme for indie startups

UKIE says games companies should jump to Seed Enterprise Investment Scheme
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Trade body UKIE has urged game developers to take advantage of the UK's Seed Enterprise Investment Scheme.

The SEIS gives startups a boost by offering tax relief to individual investors.

Investors can give eligible startups up to £100,000 in a single year, and claim up to fifty percent back in tax relief.

The scheme requires several criteria be met by the company recieving investment:

  • have 25 or fewer employees
  • have no more than £200,000 in assets at the time the investment is made
  • be UK-based
  • be undertaking a new business (be a start-up)
  • not be listed on any recognised stock exchange
  • not have previously raised money under the Enterprise Investment Scheme or Venture Capital Trust scheme

In addition, the company must not be owned by the investor.

Each company can recieve a maximum of £150,000 in SEIS funding.

Ukie has produced a fact sheet for interested developers, which can be accessed here.