The UK Government has pledged £8m in funding available to game studios across the country.
Chancellor George Osborne has revived the £4m Prototype Fund, designed to provide a boost for start-ups in the sector. A further £4m will also made available over the next two years to support the Skills Investment Fund, a match-funding scheme for training in games and other creative sectors.
UKIE CEO Jo Twist welcomed the initiatives, stating it would make a real impact in maximising the effectiveness of games tax relief. TIGA CEO Richard Wilson said he was thrilled by the Government’s expanded support for the game industry and called it a great day for the UK game development sector.
“[The Prototype Fund] will have a real impact in maximising the effectiveness of video games tax relief, by giving more people with great ideas for games the chance to get established as a company, start building their portfolio, and make the best possible offer to potential investors,” said Twist
"This will have a significant multiplier effect, which is why we have been calling so strongly for it. We are also delighted to see this government keep up the support for skills development in the games industry that this government wisely put in place."
Wilson said: “TIGA submitted seven key proposals in our Budget Submissions to the Government and we are thrilled that the Chancellor has supported two of them. This is a great day for the UK video games development and digital publishing sector.”