£30 million investment continues to support studio growth, international exports, and major industry showcases including London Games Festival
The UK government's £30 million Games Growth Package is already showing its impact one year after launch, as stated by UK Creative Industries Minister Ian Murray. The package, announced as part of the government's Industrial Strategy and the Creative Industries Sector Plan, allocated £28.5 million through the UK Games Fund to aid early-stage developers and studio growth. Additionally, £1.5 million was committed to the London Games Festival over three years.
Since its inception, the UK Games Fund has experienced remarkable demand across its funding tracks, including the Starter Fund, Prototype Fund, and Content Fund. These tracks offer grants ranging from £20,000 to £250,000 to support project completion, studio growth, and private investment. The fund's International Business Development strand has supported 32 UK games companies, providing grants of up to £200,000 each for enhanced export and international activities.
The response to the Creative Industries Sector Plan has been positive, with UKIE CEO Nick Poole noting that studios are utilizing the funding to expand, invest in new titles, and drive growth. The BFI's UK Global Screen Fund saw an increased budget, leading to the launch of the Video Games Release funding stream, offering grants of up to £50,000 to assist UK developers with marketing and promotion costs during release campaigns.
The London Games Festival, supported by the Games Growth Package this year, featured over 30 events attracting visitors from 61 countries and more than 8,000 business delegates. The festival's growth is set to continue, with plans to establish a major international games showcase in the UK through a central venue for industry and game fans.
