Digital & Creative Clyde Launchpad is the Technology Strategy Board's latest funding competition
A new funding competition has been launched by the Technology Strategy Board worth up to £900,000 to Glasgow-based SMEs in the digital and creative industries.
Universities and Science Minister David Willetts today launched the new business innovation competition, called the Digital & Creative Clyde Launchpad.
The Technology Strategy Board, the UK Government's innovation agency, has launched the competition in partnership with Creative Clyde, to promote “accelerated growth and expansion” as its primary goal for new Launchpad investment in Glasgow’s digital and creative companies.
These Launchpad competitions, led by the Technology Strategy Board, are part of an ongoing programme to support business innovation to clusters of companies.
Funding is delivered through a combination of research and development (R&D) project funding, business support and help in attracting new private sector investment.
Up to 15 such projects are expected to be funded from this type of competition throughout the UK.
In each Launchpad the Technology Strategy Board will work with a local partner organisation, known as a cluster champion, to deliver a package of support to competition winners and to engage with the cluster as a whole.
The cluster champion for the Digital & Creative Clyde Launchpad is Creative Clyde.
Willetts said: “The digital and creative industries in Glasgow are at the centre of new innovations in the UK.
“From mobile phone apps to new software development, they are ideas that make a difference to people’s day to day lives.
“This investment will help the brightest businesses in Glasgow develop new ideas and solutions.
“It is important that the UK stays at the forefront of these innovations so we can continue to compete on a global scale.”
Linda McPherson, director of creative industries at Scottish Enterprise, said: “The Launchpad approach is designed to help companies in the Creative Clyde area raise their level of innovation and build their competitive advantage.
“We know that companies which invest in R&D, even early stage businesses, can accelerate their business growth, exploit new international markets, and increase revenue from new products and services developed.
“Creative Clyde is a great place to make this happen as it is a vibrant and collaborative business environment and home to many media, technology and creatively-minded businesses”.
Finance Secretary John Swinney said: "Generations of talented Glaswegians and enterprising Scots have helped cement Glasgow's global reputation for innovation and creativity.
"The Scottish Government recognises the importance of capitalising on Scotland's strengths and this £900k investment is tremendous news for the Creative Clyde project.
“It builds on the announcement last week that Glasgow has secured the £24 million project by the Technology Strategy Board's Future City demonstrator for the UK.
"This activity complements the broad range of work on innovation and entrepreneurship that we already undertake in Scotland and will provide our talented digital and creative communities with a fantastic source of additional support.”
The Digital & Creative Clyde Launchpad competition is open to SMEs based in the area covered by Glasgow City Council, those planning to move or set up there and projects involving collaboration with companies already there.
It offers companies up to 60 per cent funding for “innovative R&D projects” up to a maximum of £60,000.
More information can be found here