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£50 Million Investment Announced for Creative Businesses

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Creative industries businesses will benefit from a £50 million UK Government boost to help drive economic growth and level up the country, Culture Secretary Nadine Dorries has announced.

The investment includes £21 million to help build on the international success of the UK film industry through a three-year UK Global Screen Fund. This follows a successful one-year pilot of the Department of Culture Media and Sport (DCMS) scheme that has boosted the global reach of UK independent productions, including The Miracle Club (starring Maggie Smith) and Good Luck to You, Leo Grande (starring Emma Thompson), administered by the British Film Institute (BFI).

Eight million pounds will help start-up gaming businesses across the country grow their operations, through the UK Games Fund. Based in Dundee, the UK Games Fund will make sure video games firms’ talented workforces have the skills they need to thrive in the sector. This includes increased support for early-stage businesses and entrepreneurial young developers, nurturing talent and fostering new games creation across the UK.

The Creative Scale Up Programme, which provides finance and business support to firms in the creative industries, will also be expanded with more than £18 million in new funding. This investment will support innovative creative businesses outside of London as part of the UK Government’s levelling-up plans.

The creative industries have made a substantial and sustained contribution to economic growth and job creation across the UK growing, on average, nearly twice the rate of the wider economy. Today’s announcement is recognition of their great work, and will form part of the [UK] Government’s Creative Industries Sector Vision, which will be published in the summer and will set out the approach for supporting this high-growth sector into the future.

Culture Secretary Nadine Dorries said:

“The creative industries in the UK are truly world class and I am committed to doing everything I can to support their innovative work as they continue to thrive.

£50 million of Government investment will provide businesses across the country with the tools they need to expand their work and provide even more jobs as we look to level up opportunities across the country.”

British Film Institute CEO Ben Roberts said:

“It’s great news that the UK Global Screen Fund is set to deliver a further three years of vital support to our world class independent screen industries. In its pilot the year, the fund has stimulated new international partnerships, boosting co-production, distribution and development opportunities to drive growth and export.

This continued investment recognises the power and potential of UK screen content and ensures that we can build on its global impact, delivering for the UK economy and reaching new audiences around the world.”

Caroline Norbury MBE, chief executive of Creative UK, said:

“Creative Coalition Festival is a key moment for UK creativity, bringing together diverse voices from across industry and politics to drive the change and fresh thinking needed to unleash the potential of our world-leading Creative Industries. I’m delighted that the Secretary of State has chosen today’s forum for this announcement, an intervention which rightly recognises the power of our sector and the vital importance of investing in creativity to drive growth and innovation across all parts of the UK.”

Dr Jo Twist OBE, CEO of Ukie, said:

“Ukie has consistently called for the invaluable UK Games Fund to be extended and this is a welcome vote of confidence in our thriving games industry. The UK sector is a global success story that is both a critical exporter and a source of extensive inward investment. This support will help the next generation of businesses access the finance they need to build the games to do that, while creating high value jobs across the whole country.”