£50m government investment announced for creative businesses across the UK

  • £18m funding will support creative businesses outside of London as they create new economic opportunities in their regions
  • £21m to be donated to the UK Global Screen Fund over three years to promote British films internationally
  • £8million will help entrepreneurial and start-up video game developers across the UK create new games

Businesses in the creative industries will benefit from £50million in government support to help boost economic growth and level the country, Culture Secretary Nadine Dorries announced today.

The investment includes £21million to help build on the international success of the UK film industry through a three-year UK Global Screen Fund. This follows a successful year-long pilot of the DCMS program which boosted the global reach of UK independent productions including The Miracle Club (with Maggie Smith) and Good Luck to You, Leo Grande (with Emma Thompson), administered by the British. Film Institute (BFI).

£8million will help start-up games businesses across the country grow their businesses, through the UK Games Fund. Based in Dundee, the UK Games Fund will ensure that the talented workforce of video game companies have the skills they need to thrive in the industry. This includes increased support for start-ups and young entrepreneurial developers, nurturing talent and encouraging the creation of new games across the UK.

The Creative Scale Up scheme, which provides financial and business support to businesses in the creative industries, will also be expanded with over £18m in new funding. This investment will support innovative creative businesses outside of London as part of the government’s upgrading plans.

The creative industries have made a substantial and sustained contribution to economic growth and job creation across the UK, growing on average almost twice the rate of the wider economy. Today’s announcement is recognition of their excellent work and will form part of the Government’s Creative Industries Sector Vision, to be released this summer and set out the approach to support this high growth sector in the future. .

Culture Secretary Nadine Dorries said:

The creative industries in the UK are truly world class and I am committed to doing all I can to support their innovative work as they continue to thrive.

An investment of £50million from the government will give businesses across the country the tools they need to scale up their work and create even more jobs as we seek to increase opportunities across the country.

British Film Institute CEO Ben Roberts said:

It’s great news that the UK Global Screen Fund is set to provide three more years of vital support to our world-class independent screen industries. During its pilot year, the fund stimulated new international partnerships, stimulating co-production, distribution and development opportunities to drive growth and export.

This continued investment recognizes the power and potential of screen content in the UK and ensures that we can leverage its global impact, contributing to the UK economy and reaching new audiences around the world.

Caroline Norbury MBE, Managing Director of Creative UK, said:

Creative Coalition Festival is a key moment for UK creativity, bringing together diverse voices from industry and politics to drive the change and thinking needed to unlock the potential of our cutting-edge creative industries. I am delighted that the Secretary of State has chosen today’s forum for this announcement, an intervention that rightly recognizes the power of our sector and the vital importance of investing in creativity to drive growth and innovation in all parts of the UK.

Dr Jo Twist OBE, CEO of Ukie, said:

Ukie has always called for the valuable UK Games Fund to be extended and this is a welcome vote of confidence in our thriving games industry. The British sector is a global success story that is both a key exporter and a source of significant foreign investment. This support will help the next generation of businesses access the financing they need to create the games needed, while creating high-value jobs across the country.

ENDS

Notes to editors:

UK Global Fund for Screens:

  • Launched as a pilot project in April 2021, the UK Global Screen Fund will provide a targeted investment of £21 million in UK screen companies over the next three years
  • The DCMS fund, administered by the British Film Institute, is designed to increase the international reach and content revenue of UK independent screens
  • In its pilot year, the UK Global Screen Fund invested £7 million in the commercial development, co-production, distribution and promotion of independent film content in the UK.
  • The multi-year UK Global Screen Fund will launch later this year

UK Games Fund:

  • Established in 2015 and based in Dundee, the UK Games Fund supports new games ventures, intellectual property and talent across the UK. It does this through:
  • Award grants of up to £25,000 to high growth potential SMEs and micro-enterprises
  • The Tranzfuser program which mentors teams of talented and enterprising university graduates in regional centers across the UK
  • Provide mentorship and support to SMEs
  • To date, the UKGF has funded over 170 projects, worth over £5.7m, and helped build a community of over 6,000 UK game developers.

Creative Scaling Program:

  • The Creative Scale Up program will build on the success of the Creative Scale Up pilot project. The pilot was a two-year DCMS-funded £4 million investment program which supported over 200 creative businesses across three regions of the Combined Authority of England (West of England, West Midlands and Greater Manchester).
  • The program was announced in December 2018 as part of the Creative Industries Sector Deal. It has provided intensive business support to growth-stage creative businesses, to help them scale up and access finance
  • It is also designed to improve the capacity of relevant investor communities by identifying and engaging local angel investors and connecting them to a pipeline of high-growth companies.

Vision of the creative industries sector:

  • Creative industries have been identified as one of the four key sectors of the Growth Plan to encourage recovery from the pandemic and have been asked to develop a sectoral vision
  • The sector vision, due to be released in the summer of 2022, will set out a long-term strategy focused on promoting growth within a sector and delivering on the upgrading targets of government, Global Britain and net zero
  • This strategy will be developed through a partnership between government and industry. The Creative Industries Council will be our main partner to implement the sector vision

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