Inventive UK has began a fund focused at small and medium-sized ‘artistic companies’ in North East England. The non-profit group says its intention is to “give recipients the artistic freedom to solely check concepts and develop a brand new services or products for the good thing about the sector.”
The North East Shared Success Fund is geared toward enterprises in North Tyneside, Newcastle, and Northumberland, and presents as much as £25,000 in funding for initiatives akin to movie, TV, and video games.
Recipients may also be supplied “tailor assist” like workshops and one-on-one mentoring. As soon as the venture succeeds or hits a sure monetary threshold, they are going to be required to pay the funding again interest-free.
Per regional affiliate director Carol Bell, the North East Fund addresses “early-stage artistic companies scuffling with funding and money move when creating new IP and bringing new services to market.”
“We’re hoping to achieve all specialisms throughout the sector with this fund,” she continued. “The intention is that the repaid funding is then reinvested to assist different artistic sector companies sooner or later.”
Inventive UK beforehand put monetary assist behind the sport trade final 12 months with the same £35 million funding fund. In that occasion, it was serving to the UK authorities’s plans to develop its artistic sector and create a million new jobs by 2030.
The brand new fund, which is financed by the North East Mixed Authority, was additionally made particularly to function a “stopgap between different artistic grants and loans schemes.”
Extra data on the North East Shared Success Fund, together with learn how to apply, shall be revealed on Thursday, September 19. events are inspired to RSVP for Inventive UK’s Zoom assembly right here.
