£1m fund for Manchester digital and creative start-ups launched
Business Growth Hub partners with Technology Strategy board to create dedicated fund
Digital and creative start-ups in Greater Manchester are set to receive a boost with the creation of a new £1m fund, designed to support innovation in the area.
The fund, part of a £25m programme backed by the Government’s Technology Strategy Board, will be awarded to small companies from pre-launch to small business stage to carry out research and development projects that could contribute new technology or ideas to the digital and creative sectors.
The Business Growth Hub, which is launching the fund in conjunction with the Technology Strategy Board, said that around 60% of successful applicants’ project costs could be covered and expects to consider projects costing £100,000 or under.
Manchester companies which qualify for the fund’s backing will also receive ongoing support, mentoring and contacts from the Business Growth Hub.
The Hub said the wider aim of the programme is to grow the regional start-up ecosystem by encouraging collaboration and networking between companies in the industry.
Richard Jeffery, director of the Business Growth Hub, said: “It is vital that we support and exploit the opportunities within the already vibrant Greater Manchester digital and creative community and this competition aims to take the companies working in it and help drive them forward by supporting innovation.
“Companies in the Digital & Creative Media Development sector tend to be less capital-intensive, small or sized and often form tight geographical clusters. This competition is designed specifically to promote the community dynamic within these vibrant clusters, encourage cooperation and, ultimately, grow business in the area for the benefit of the Greater Manchester and surrounding economy.”