Innovate UK (IUK) has launched a competition which provides a package of targeted support for growth, enabling ambitious, creative businesses to reach their potential. The package is designed to help creative firms explore new revenue streams by generating new products, services or IP which respond to changing market conditions.
IUK has allocated up to £2.5 million to fund innovation projects in this competition. Applicants can claim 100% of eligible project costs up to the maximum of £25,000. If the application is successful, applicants must work with an Innovate UK EDGE advisor to maximise their project’s impact.
The competition is open to single applicants only. To lead a project, an organisation must be a UK registered micro or small business that has not previously received funding from IUK. The business must be from the creative industries or support the creative industries and have a demonstrable ambition for growth.
Projects must focus on subsectors including advertising and marketing, arts and culture, broadcasting, crafts, design, fashion, film, games, music and publishing.