Date Created: 06 January 2012
Small to medium sized businesses and start-ups in the games industry could benefit from a grant of up to £25,000 from the University of Abertay.
The Dundee-based university has a £2 million prototype fund available, with £1 million earmarked for companies within Scotland.
The fund will be in existence for three years to encourage either start-ups or small, existing companies to create their own intellectual property.
The maximum grant awarded to an individual company is £25,000. If the product generates revenue, there is an expectation there will be a return on the fund’s investment. The aim is keep the fund self-sustaining beyond its planned initial three years.
"Enormous economic potential"
Paul Durrant, director of business development at Abertay University, said: "By investing directly in these businesses, Abertay University is giving them the opportunity to develop a prototype – either to take to market, or to secure additional private investment.
“This is a very different and very important role for Abertay University to take, further developing our support for the computer games industry which has such enormous economic potential for the UK. The Prototype Fund is part of our continuing campaign to improve the availability of working capital and grow the talent base.”
Studio space and students
One of the benefits of the fund is that companies use students or graduates on their prototype project.
This is facilitated by Abertay's brokerage service - drawing in a pool of talented students and graduates from across the UK - a beneficiary’s project must have at least one person from this pool involved in it.
While beneficiaries are working through their prototype development, they can also get studio space at Abertay University.
How to get involved
Scottish Development International are keen to work with start-ups and small businesses that use the fund to help them grow beyond their prototype stage.
So far, 47 applicants have been assessed against "tough commercial criteria" and successful companies include Adamant Studios, Atomicom, Bigyama, Euphonious, NoodlFroot, Outsource Media UK and Proper Games.
Applications are now open for the third round of funding - find out how to apply