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Creative industries fund: fast start business growth pilot

Opens:
17/5/2021
Closes:
16/6/2021
Sectors:
All
General & Misc
Project Size:
up to £25,000

Summary

Innovate UK, part of UK Research and Innovation, is to invest up to £2.5 million in innovation projects.

The aim of this competition is to provide a package of targeted support for growth so ambitious, creative businesses can reach their potential.

This package is designed to help creative businesses to explore new revenue streams by creating new products, services or IP which respond to changing market conditions.

Your proposal must:

  • be from the creative industries or support the creative industries
  • focus on a clear opportunity and the proposed innovation to address it
  • demonstrate the impact funding and support can have to the growth plan of your business

You could get a grant of up to 100% of your eligible project costs.

 

Eligibility

Your project must:

  • have total eligible costs up to £25,000
  • end by 31 March 2022
  • last between 3 and 6 months

 

To lead a project your organisation must:

  • be a UK registered micro or small business
  • have not previously received funding from Innovate UK
  • be from the creative industries or support the creative industries
  • have a demonstrable ambition for growth
  • carry out its project work in the UK
  • intend to exploit the results from or in the UK

Scope

The aim of this competition is to provide a package of targeted support for growth so ambitious creative businesses can reach their potential.

 

Your project must:

  • offer a clearly innovative and ambitious idea
  • be new to your business, with a demonstrable impact to your growth plan
  • create a new revenue stream, for example new products, services or IP
  • respond to the changing market conditions, such as new modes of audience consumption, or the adoption of new technologies within the sector
  • be market ready within 12 months of receiving support
  • be able to start rapidly
  • represent value for money

 

Innovate UK welcomes applications which can demonstrate benefit to the wider creative industries sub sector or regional cluster.

Your project must focus on one or more of the following subsectors: advertising and marketing, architecture, arts and culture, broadcasting including sport, crafts, design, fashion, film, games, music and publishing.

 

Funds will be released in two instalments:

  • Total grant less £5,000 will be paid in advance of the project start date
  • The remaining £5,000 will be paid at the end of the project, on receipt and approval of statement of expenditure, and completion of a three-month action plan with your EDGE advisor
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