TIGA congratulates Creative Europe UK game developers and recommends introduction of a Games Investment Fund

By August 21, 2017Press Releases

TIGA, the trade association representing the UK video games industry, extended its congratulations to the UK teams recently selected for funding via the Creative Europe 2017 call for video games and recommended that the Government should consider introducing a Games Investment Fund. TIGA’s proposed Games Investment Fund would involve loans or grants being made available to games businesses on a pound-for-pound, matched funding basis, up to a maximum of £200,000.

From all the countries across Europe, UK developers made the most submissions for funding, leading to the UK receiving the highest grant allocation, at an impressive total of €787,000. That equates to almost a quarter of the initiative’s total budget. The non-repayable grants provided to Wales Interactive, Brightrock Games, State of Play Games, Splendy Interactive, Italic Pig and The Chinese Room demonstrate the value and innovativeness of UK game studios.

Dr  Richard Wilson, TIGA CEO, said:

 

“TIGA would like to extend its congratulations to the six UK developers that have secured Creative Europe funding. However, while the Creative Europe funding is available to a select list of non-EU European nations, as with much around Brexit, if and how the Creative Europe grants will be available to UK game developers following the UK’s EU referendum result is unclear.

“Considering the uncertainty Brexit presently brings, the UK Government could consider introducing TIGA’s proposed Games Investment Fund to prevent a funding gap opening, so as to support developers through and after the UK’s departure from the EU.

 

“Our proposed Games Investment Fund would increase jobs, investment and innovation and strengthen the UK’s ambition to be the best places in the world to games business.”

 

TIGA’s proposed Games Investment Fund would involve loans or grants being made available to games businesses on a pound-for-pound, matched funding basis, up to a maximum of £200,000. TIGA details the proposal in its report ‘Reinforcing Success: A Games Investment Fund for the UK.’ See: https://tiga.org/news/tiga-calls-for-the-launch-of-a-games-investment-fund

 

TIGA’s proposed Games Investment Fund could have the following impact:

 

  • 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.

 

 

Notes to Editors

For information on Creative Europe, see: https://ec.europa.eu/programmes/creative-europe/

 

It is unclear if and how the UK would be eligible for Creative Europe funding post Brexit. See: https://eacea.ec.europa.eu/sites/eacea-site/files/26042017-eligible-countries_en.pdf

 

About TIGA

TIGA is a not for profit network for games developers and digital publishers and the trade association representing the video games industry. Since 2010, TIGA has won 25 business awards and commendations, an achievement which demonstrates our drive to meet and to exceed best practice. TIGA focuses on three sets of activities:

 

  • political representation;
  • profile raising; and
  • business services.

This means that TIGA members’ voices are heard in the corridors of power and positively represented in the international, national, regional and trade media. TIGA’s activities also serve to enhance the competitiveness of our members by providing benefits that make a material difference to their businesses, including a reduction in costs and improved commercial opportunities.

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