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UK Games Fund
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UK Games Fund Reviewing latest applicants for cash grants of up to £25,000
The UK Games Fund (“the Fund”), which was established to give financial backing to and grow the UK games development community, is in its third round of funding. Since it has been established, the Fund has received over 350 applications and given out £1.3m; it is currently going through the most recent round of applicants to select those that will receive the latest cash grants. Games that have successfully received funding include Sensible Object’s Bests of Balance and Six to Start’s Zombies, Roll!
John Egan Associate Partner | Commercial john.egan@laytons.com +44 (0)20 7842 8000
Kathryn Beasley Solicitor | Corporate kathryn.beasley@laytons.com +44 (0)20 7842 8000
UK Games Fund | December 2016
The objective of the fund The Fund’s chief objective is to help stimulate growth in the UK games industry. As with many small businesses, new video games businesses struggle to fund the capital required to develop their ideas and attract significant private investment. The Fund aims to bridge that gap and support developers and titles to grow in size and strength and ensure ideas are taken from the drawing board into production.
The Fund has been working closely with Ukie and TIGA during
The third round grant is capped at £25,000 for teams of
the previous rounds. The CEO of Ukie, Dr Jo Twist, said at the
developers and £15,000 for solo developers. The Fund has
third round launch
also indicated that it may provide some £50,000 grants to advanced projects but these will be negotiated on a case by
“The fantastic games that have already emerged
case basis. Grants must represent no more than 50% of the
from previous rounds shows what a huge asset this
total costs of the successful projects.
fund is to the games sector in the UK and Ukie is proud to continue supporting the project through this next round”.
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UK Games Fund | December 2016
Stage One Stage One of the application process (the submission of a two minute video pitch) closed in November 2016 and successful applicants will be invited in January 2017 to make a written application for Stage Two.
The Fund has secured funding from the Government for the next four years and has also indicated that it will be considering other methods of funding support in addition to grants although no further details have been released yet. The Government has also recently announced that it will be making an additional ÂŁ400 million available for private funds to invest in technology companies, including games companies, through the British Business Bank. The Government has said that it is striving to support and grow the Tech Industry; for our comments on some of the initiatives announced in the Autumn Statement, and how it may affect the Tech Industry, read our article here. If you would like to know more about the UK Games Fund and whether your company is eligible and ready to apply for the next round please contact us.
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UK Games Fund | December 2016
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