New Irish Fund Increases Threat to Scottish and UK Video Games Sectors

By October 28, 2011 Press Releases

Ireland
launches 10 Million Euro Fund to Attract Overseas Entrepreneurs

 

TIGA, the
trade association representing the UK games industry, said today that Ireland’s
decision to launch a 10 million euro International Start-Up Fund to draw
overseas entrepreneurs to Ireland highlighted the imperative for the
introduction of Games Tax Relief, improvements to the R&D tax credits and
the establishment of a Creative Content Fund as soon as possible.

 

The Irish
fund was launched by Richard Bruton, The Irish Minister for Jobs,
Enterprise and Innovation. The fund will be administered by Enterprise Ireland.
Its geographical targets will include the UK, and it will focus on sectors
including the internet, games and cloud computing. The Irish Fund will target
investor-ready projects seeking between €200,000 and €500,000. Funding will take
the form of an equity stake by the State in eligible companies.

Dr Richard Wilson,
TIGA CEO, said:
“The Irish
Fund has parallels with TIGA’s Creative Content Fund, which we proposed to the
Scottish Government earlier this week. The Irish Government’s scheme is another
example of the intense competition that exists between governments to attract
high technology businesses and entrepreneurs to their countries.

“The Irish development
confirms the urgent need for Scottish and UK policy makers to create a
favourable environment for video games development. Significantly, while the
Scottish Government has given a positive response to our proposals for a
Creative Content Fund and intends to meet with TIGA, the UK Coalition
Government continues to act indifferently to the UK video games sector. This is
extremely shortsighted.”

Patrick O'Luanaigh, TIGA board member and CEO of
nDreams, said:

 

“TIGA is determined
to make the UK the best place in the world to do games business. To that end,
we are lobbying policy makers to encourage them to introduce policies that will
help our sector to grow. I hope that the Holyrood and Westminister governments
will start to invest in our industry. I am delighted that the Scottish
Government has given a relatively positive response to our proposals. I hope
that the UK Coalition Government follows suit.

 

“In the meantime,
TIGA will continue to take steps to strengthen our industry. We are working to
reduce business costs for our members by securing discounts from third party
suppliers; we are organising networking events to help our members make new
business contacts; and we are publishing best practice information and advice
on games development for our members. I would urge all UK game developers and
developer-publishers to join TIGA in order to work together for the success of
the industry.”

 

 

Ends

Notes to editors:

About TIGA:

IGA is the trade association representing the UK’s games industry. The
majority of our members are either independent games developers or in-house
publisher owned developers. We also have games publishers, outsourcing
companies, technology businesses and
universities amongst our membership. In 2010 TIGA won two business
awards including ‘Trade Association of the Year’ from the Trade Association
Forum. In 2011, TIGA won six business awards including ‘Trade Association of
the Year’ from the Trade Association Forum and ‘Outstanding Organisation’ from
the Chartered Management Institute. 

Richard Wilson won the ‘Leadership
Award’ from the Trade Association Forum and the ‘Outstanding Leader’ award from
the Chartered Management Institute. TIGA is an Investors in People organisation.

TIGA's vision
is to make the UK the best place in the world to do games business.  We
focus on three sets of activities: political representation, generating media
coverage and developing services that enhance the competitiveness of our
members.  This means that TIGA members are effectively represented in the
corridors of power, their voice is heard in the media and they receive benefits
that make a material difference to their businesses, including a reduction in
costs and improved commercial opportunities.

For further information, please contact Dr
Richard Wilson, TIGA CEO on 07875939643: or email richard.wilson@tiga.org

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