Northwest Region Gets Funding Boost

Northwest Vision and Media have invested over £500,000 has been invested into the region’s creative and digital companies by , which works on behalf of the creative and digital industries in the region.

The funds have been provided to small and medium sized companies through the Regional Attraction Fund (RAF), which is delivered in partnership with the Northwest Development Agency.

Now in its fifth year, the RAF is designed to encourage and promote the development and growth of companies within the TV, film, games, interactive and digital content sectors.

A total of £537,695 has been provided, with funding packages ranging from £10,000 to £50,000 aimed at stimulating growth through developing new products, skills and business models.

Paul Taylor, Director, Business Delivery for Northwest Vision and Media, said: “Investment in development is essential for all businesses if they want to grow, but difficult for many to finance, particularly at this scale. It is often considered too risky for bank debt but too small for equity. The aim of this funding is to stimulate growth in the sector so that our creative and digital businesses can take full advantage of the significant opportunities regionally with MediaCityUK, nationally and globally.

“Since RAF was established, we’ve assisted 211 companies and helped to create 225 jobs through the fund, which is a fantastic record. This year alone, we’ve been able to provide over £900,000 of funding, matched by private investment and backed up with high quality advice and mentoring.

“We’re delighted to be able to offer this level of support for the growth and development of creative and digital talent in the North West.”

Peter Mearns, Executive Director of Marketing and Communications for the NWDA, said: “By supporting business and product development, the RAF enables growth and provides a boost to the regional economy. It supports job creation for creative professionals in the North West and reinforces the region's reputation as one of the most attractive locations in the UK for aspiring new talent."

Ian Liddell, Managing Director at Manchester-based Studio Liddell, which has received £40,000 through the RAF, adds: “These are exciting times for Studio Liddell and support such as this from Northwest Vision and Media helps our growth immensely.

“The RAF award enables us to accelerate our company development plans in two key areas which will lead directly to job creation and new IP generation as well as indirectly attracting further projects to the region. We’d like to thank everyone at Northwest Vision and Media for this opportunity.”

Chris Morland, Development Director at Liverpool-based Citrus Suite, which has received £50,000 of funding, said: “The RAF has helped Citrus Suite make the move from service provider to video game developer, whilst enabling us to keep hold of our own original IP. Without this input it would have been tough for us to realise our ambitions and publish a game on Nintendo's WiiWare platform."

Mark Collins, Head of Production and Managing Partner at Manchester-based The Mob Film Company, which has received £10,000, comments: “Creating our own in-house edit suite was an ambition cut short by the recession, which came at the same time as expanding to new premises in Manchester.

“The Regional Attraction Fund allowed us to keep our growth and expansion plans on track and it has already become a huge asset to us and our clients. We're very proud to be the only London advertising production company to have opened in Manchester and we're delighted that Northwest Vision and Media recognised our long-term commitment to the region.”