Culture Minister Ed Vaizey has used the Develop Conference in Brighton to launch a multi-million pound investment scheme in association with Dundee’s Abertay University.
An initial £2.0 million GBP will be used to support game prototypes, new developers and to help emerging developers find further funding. The investment could ultimately reach £5.0 million GBP.
“This fund is a direct response to what many developers tell us is needed,” Vaizey said.
The project’s aim is the creation of 30 new companies, 400 new jobs and the support of 80 existing smaller businesses.
Vaizey also spoke about the issue of scrapped tax breaks, stating that it will be necessary for the games industry to “make [the case] to me and George Osborne again.”
This may be a lost cause, however, as he made it very clear that he feels the industry will cope without tax relief: “I personally think this industry has a fantastic future, and I want to work with you, but I think that the view that without tax breaks the industry won’t go forward is wrong.”
