TIGA, the network for games developers and digital publishers, and the trade association representing the video games industry, welcomed the Government’s recognition of the importance of the creative industries in its new industrial strategy and called on the Government to introduce a British Games Institute to drive the video games sector forward. The British Games Institute would: manage TIGA’s long standing proposal for a Games Investment Fund; increase productivity in the industry by working with leading universities – particularly TIGA Accredited universities – to promote best practice; and to promote British games culture with a new national games week filled with events, hackathons and competitions around the UK.
TIGA’s proposal for a Games Investment Fund would involve grants or loans being made available to games businesses on a pound for pound, matched funding basis, up to a maximum of £200,000. A commercial mentoring business advisory service, staffed by paid industry veterans, would be mandated for successful companies.
Dr Richard Wilson, TIGA CEO, said:
“The Government’s industrial strategy sensibly involves both generic and sectoral elements. The provision of a favourable general framework characterised by comparatively low tax rates, low business costs, an effective regulatory environment and a well-educated and trained workforce will help many businesses across the economy. Yet distinct sectors have separate challenges that sometimes require different policy responses.
“The UK video games industry is a high technology, high skilled sector with a high propensity to export. If we are to ensure that our sector achieves its potential and continues to create highly skilled jobs and wealth for the UK, then we need action on three fronts.
“Firstly, we need to retain and potentially enhance Video Games Tax Relief, a measure which is enabling the UK to compete on a more level playing field against our global competitors and which is driving growth in the industry by over 7 per cent per annum.
“Secondly, we should strive to ensure that the UK has one of the best educated workforces in the world and an effective and efficient migration system that enables UK employers to access highly skilled personnel from all over the world, including from the EU.
“Thirdly, we should introduce a British Games Institute to drive the sector forward. The British Games Institute would manage TIGA’s long standing proposal for a Games Investment Fund, increase productivity in the industry by working with leading universities – particularly TIGA Accredited universities – to promote best practice, and promote British games culture with a new national games week filled with events, hackathons and competitions around the UK.”
TIGA naturally supports the Government’s ten point plan (http://www.bbc.co.uk/news/business-38713327), including the intention to invest in science and innovation, infrastructure, develop skills, encourage trade and inward investment and supporting businesses to start and to grow.
Jason Kingsley OBE, TIGA Chairman and CEO and Creative Director at Rebellion, said:
“TIGA has consistently argued for an industrial strategy that combines cross-sectoral and industry-specific approaches and so we welcome the Government’s approach in its new industrial strategy.
“To ensure that the UK continues to be a world leading games development sector it is critically important that we have a favourable tax environment, ready access to finance and access to highly skilled people. A successful industrial strategy for the video games industry therefore means strengthening Video Games Tax Relief, introducing a Games Investment Fund and effective access to highly skilled development staff, including from the EU. It also means the continuation of free trade in video games.”
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For information about the proposed British Games Institute:
TIGA is the network for games developers and digital publishers and the trade association representing the video games industry. Our core purpose is to strengthen the games development and digital publishing sector. We achieve this by campaigning for the industry in the corridors of power, championing the industry in the media and helping our members commercially.
TIGA is intent on building an enduring organisation which continually improves; a business that will make a significant impact on the games industry and so benefit our membership and the wider economy. Since 2010, TIGA has won 24 business awards, an achievement which reflects TIGA’s drive for improvement and to meet best practice.
TIGA has called for the introduction of a Games Investment Fund for many years, including in a recent report, Reinforcing Success: A Games Investment Fund for the UK and also in the TIGA – ITN Productions programme, Changing the Game: http://tiga.org/news/presenting-tiga-and-itn-productions-changing-the-game
The impact of the Games Investment Fund
The GIF would have a positive impact on the UK’s games industry and wider economy. Over the five years from 2017 to 2021, the GIF would:
- increase headcount by nearly 600 staff;
- create over 1,000 indirect jobs in the supply chain around games development;
- encourage games companies to invest an additional £81million in development expenditure;
- contribute an additional £74 million in tax revenues over 5 years;
- help 125 studios (18 per cent of total);
- increase Gross Domestic Product (GDP) by an additional £178 million.
The British Games Institute and its key programme, the Games Investment Fund, could be financed either from the National Lottery or from Grant-in-Aid money from the Government.
For more information visit: www.tiga.org
Get in touch:
For further information, you can also contact:
Dr Richard Wilson, TIGA CEO at: email@example.com