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Guide to Applicants
There are three different business stages we are targeting:
Growth
Businesses at least two years old with an ambitious plan for growth.
Project
Businesses with a project over a limited period of time that will generate a clear return e.g. an event, festival, film
Start-up
Start up businesses.
The fund is open to applications from any companies from the creative commercial sectors and SME’s where there is a clear and significant element of design or creative content in the North East of England.
The Creative Industries are defined by the Department of Culture Media and Sport as follows:
‘...those industries which have their origin in individual creativity, skill, and talent, and which have a potential for wealth and job creation through the generation and exploitation of intellectual property.'
The term 'creative industries' for the purpose of this fund covers:
Design
Architecture - Craft & Design - Fashion and Textiles
Media
Advertising - Film - Digital media and Games - Publishing - Software - Television and Radio
Expressive
Music - Performing Arts - Visual Arts
The sector has also been termed ‘commercial creative’, and is defined as follows:
'The major elements of the commercial creative sector are those businesses which offer opportunities through the commercial exploitation of creative Intellectual Property……Commercial creative businesses have particular specialist needs around the exploitation of IP and wider technology issues, for example distribution and access to markets.’
ONE ‘Leading the way : Regional Economic Strategy 2006’
SME’s are defined as those of less than 250 people and an annual turnover not exceeding ECU 50 million; or an annual balance sheet total not exceeding ECU 43 million.
All investment decisions are taken on a commercial basis. A key criterion for any successful applicant will be a clear commercial direction for the business, and a strategy for adding value through design and creative content. For the Fund there needs to be a realistic view of where a return can be made on the investment.
Whilst the investments are made at an early stage we will be looking for a good track record from the team for commercialisation of ideas, rapid prototyping and market testing.
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