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The U.K. has a rich history of creating beloved gaming franchises — like Tomb Raider, Grand Theft Auto, and Little Big Planet — and its government wants even more success stories.
The U.K. Games Fund today launched a scheme where new and small game studios can get grants of $38,000 to help bring game ideas to life. The money comes from a central government prototype fund of $6 million, which will go to help early-stage projects in the U.K. gaming industry over the next four years.
While the global video game market is worth $91.5 billion, young companies still struggle to secure funding and often turn to nontraditional means like crowdfunding for support. This new government scheme to back small studios will help projects that might otherwise have failed to leave the drawing board.
“It has enormous potential for the future of the U.K. games industry,” Dr. Jo Twist, the chief executive officer of trade body U.K. Interactive Entertainment told GamesIndustry. “Access to finance has been an ongoing challenge for small and microgames businesses, and the financial support of the fund, as well as the mentoring opportunities that are provided, will open doors to a huge amount of unearthed games talent in the U.K..”
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