Video games industry receives funding for young developers

The UK Games Fund will receive £5m in additional funding, bringing its total funding to £13.4 million over the next two years. Since 2015 the fund has been developing talent and awarding grants to young video game developers and early-stage studios to turn their drawing board ideas into working prototype games and showcase them to investors.

The additional funding, announced as part of the Creative Industries Sector Vision, is designed to help maturer start-ups grow their businesses and attract even more private investment into our booming video games industry.

The UK Games Fund is run by non-profit UK Games Talent and Finance Community Interest Company (UKGTF). It is based in Dundee and provides grants for prototype funding (up to £30k) and supports graduate talent development through its DunDev and Tranzfuser programmes.

Separately, as part of the Vision, it was announced that video games tax relief will be reformed to the video games expenditure credit, which will have a credit rate of 34 per cent.

More on the Fund at https://ukgamesfund.com/

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