The UK’s Technology Strategy Board (TSB) yesterday launched a strategy to boost innovation and growth in the creative industries — a vital and vibrant sector that already contributes 6% to UK GDP, employs over 2 million people and achieves £16 billion in exports annually. The TSB aims to specifically help SME’s with some £30million in support, and the first funding initiative, a £15m competition to support business working in cross-platform production, is what opened yesterday and applications are now being accepted.
With innovation and imagination there is potential for applications from industrial additive manufacturing and home 3D printing based businesses… “There are great opportunities for further growth in the creative industries sector, especially for the small businesses and start-ups which just need an opportunity to bring their ground-breaking ideas to market,” said Iain Gray, chief executive of the Technology Strategy Board.
The £30m from the TSB will be available as part of a series of funding competitions for small and medium-sized enterprises (SMEs), aimed to encourage innovation in areas of digital media production, engagement with local communities and services and the development of online business.The strategy also recognises the key role that the creative industries can play in helping other sectors of the economy to develop new products and services and to design new ways of working.
ADDITIONAL FUNDING COMPETITIONS AS PART OF THE STRATEGY:
- Frictionless commerce: Up to £2.5m for projects leading to the creation of digital transactional environments for the creative industries and beyond.
- Hyperlocal Media Demonstrators: £1.5m+ focused on demonstrating the potential for hyperlocal media and technology-led location-based services.
- Location-based services: £4m to help businesses engage with their customers in a “here and now” context.
- Valuing & Pricing Digital Assets: £2.5m for “developing ways to agree value and price” in digital transactions.
Source: Innovate UK