Innovate UK launch £20m funding competition for games industry

Category: COVID-19Technology - Posted On: Apr 13 2020


On Friday 3 April, Innovate UK launched a funding competition which will invest up to £20 million in innovation projects as a direct response to the global COVID-19 pandemic.

Open to all UK-registered companies, the competition covers areas that are directly relevant to those in the games industry.

The competition has been created to support businesses that can focus on emerging and increasing needs of society during and following the pandemic.

Applications need to demonstrate benefits for society or industries that have been severely impacted or disrupted by COVID-19, including but not exclusive to:

  • entertainment (live entertainment, music, etc.)
  • food manufacture and processing
  • healthcare
  • hospitality
  • retail

Successful applicants will be able to secure 100% of project costs up to the maximum of £50,000 – which will be paid in advance of the project start date. You can read the summary details of the competition here.

Innovate UK will monitor and review projects during implementation with a view to providing follow-on funding and support for those with the most potential for impact.

However, there is a small window of opportunity – applications are being accepted now but the competition closes at noon on Friday 17 April 2020.

Head of EQ Technology, Dougie Rae, commented,

“Games studios are well known for being innovative, and competitions such as this, with the level of funding offered, will hopefully encourage them to get involved in these types of projects and also help the studios themselves survive during these extremely difficult times”.

You can read more about the application criteria and details on how to apply here.

If you need any support with grant funding or the various tax reliefs available, please email our EQ Technology team on technology@eqaccountants.co.uk.