£1m fund launched for creative start-ups outside London

Creative England has launched a £1m growth fund to support start-ups based outside of the capital across film, television, games and digital media.

Announced at an event in Manchester yesterday, the Creative Cities Growth Fund will seek to develop new cultural hotspots in cities and regions across the UK.

The support will come in the form of interest-free loans, equity or revenue share investments, accelerator programmes, or help accessing business partners or customers. Businesses wishing to access the fund must apply by October 9.

Creative England said that it plans to work with Local Enterprise Partnerships (LEPs), local authorities, universities and private companies to provide up to £250,000 in match funding,

The organisation also announced that it will be re-launching its Business Loans initiative; which offers interest-free loans of between £50,000 and £200,000 to creative digital firms.

Caroline Norbury, Creative England chief executive, commented: “Our cities and regions are vibrant centres of creativity that have delivered classic films, iconic architecture, world-class writers and ground-breaking technology.

“We know that when businesses cluster around specialist areas it gives them more opportunity to succeed, share skills, and be even more innovative as part of a supportive and collaborate network of talent.”