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Funding boost for video games sector

Funding boost for video games sector

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A £4 million fund to help boost the UK’s growing video games industry has been launched by the government.

The Video Games Prototype Fund (VGPF) is aimed at helping smaller companies get concepts off the drawing board and into production.

The video games industry is one of the UK’s biggest success stories and responsible for the creation of global gaming blockbusters such as Tomb Raider and Grand Theft Auto.

The new fund will offer grants of up to £25,000 to support video games projects, nurture talent and expand games clusters around the UK – the sector already generates more than £4.5 million a day for the UK economy, directly employing more than 19,000 people.

Minister for Culture and the Digital Economy Ed Vaizey said: “Britain’s video games punch well above their weight internationally and we need to build on this and invest in the strength of our creativity. This fund will give small businesses, start-ups and individuals the support they need to better attract private investment and go on to create the blockbusters of tomorrow.”

Ian Livingstone CBE, fantasy author and video games entrepreneur said: “The UK has a long history of developing world-class video games. From Elite and Populous to Tomb Raider and Grand Theft Auto to Runescape and Moshi Monsters to Monument Valley and Plunder Pirates, UK games have made a significant cultural and economic global impact. This fund will encourage and incentivise new talent to carry on that important legacy.”

The Fund will be managed by the UK Games Talent and Finance Community Interest Company in partnership with organisations including Digital Catapult, BAFTA, Ukie, Tiga, Creative England, Creative Scotland and BFI.

Paul Durrant, Managing Director, UK Games Talent and Finance CIC said: “Funding for both prototype development and talent support can really make a difference‎ in the early stages of creative and business development. This Fund is a great boost for the sector and will help projects better attract significant private investment.”

Find out more about VGPF here   

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