£30 million up for grabs in new UK digital media fund

The Technology Strategy Board, a public body in the UK that aims to accelerate economic growth in the region, has launched a new funding strategy to help studios in the creative industries expand more rapidly.

More than £30 million ($48.1 million) is to be made available to creative businesses, including video game studios and interactive media companies.

TSB hopes that the upcoming series of funding competitions will encourage innovation in digital media. The first round of funding opened for applications this week, and is aimed at businesses working in digital media cross-platform production.

One of the funding rounds to follow will focus solely on the Greater Manchester area, providing £1 million ($1.6 million) to help the creative and digital cluster in Manchester grow.

Briefing events for the funding rounds are being held across the UK over the next few weeks -- information on your closest event can be found on the InnovateUK website.