Midlands esports orgs can seek investment from new £250m government fund

UK esports organisations and companies based in the Midlands could benefit from the Midlands Engine Investment Fund.

This new Government fund aims to invest more than £250 million in small and medium sized businesses across the region, which stretches from Shropshire to Lincolnshire, and includes the likes of Birmingham, Worcestershire and Coventry.

The Midlands Engine Investment Fund will be formally launched and open for applications this spring, 'with the first investments following shortly after'.

Matt Hancock, Minister of State for Digital & Culture, tweeted today:

You can read the paper in full here.

Elsewhere, the government mentions plans to introduce £170 million of capital funding to create a network of Institutes of Technology.

This will 'ensure sufficient provision of high-quality technical education at higher skills levels, tailored around the needs of employers in local areas, including the Midlands'.

The Midlands Engine Strategy proposals also detail the introduction of 5G testbeds in the region, and the setting up of a Midlands Skills Challenge to improve skills in the area, with £20 million being investedto improve employment prospects.

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"The Midlands Engine Strategy is a demonstration of the government’s commitment to making the Midlands a powerful engine for economic growth."

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The Government said it would also like to take Midlands 'interactive games and entertainment' companies to Gamescom 2017.

Innovate UK, the UK’s Innovation Agency, has invested a total of over £500 million with almost 3,000 organisations across the Midlands since April 2010.

"The Midlands Engine Strategy is a demonstration of the government’s commitment to making the Midlands a powerful engine for economic growth," reads a statement on the Gov.uk website.

"The Midlands sits at the very heart of the UK economy. Building on our modern Industrial Strategy, the Midlands Engine Strategy sets out the actions we are taking to address productivity barriers across the Midlands, enabling businesses to create more jobs, export more goods and services, and grow their productivity."

Nationally, the Government’s overall Industrial Strategy aims to increase productivity and drive growth across the whole country, including an investment of more than £4 billion in innovation across the UK, upgrading infrastructure, and supporting businesses to start and grow.

 

Image source: Simon Gray (Freeimages.com)

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