Creative UK has introduced a new funding program aimed at supporting creative enterprises in North East England

Creative UK has introduced a fresh financing program aimed at bolstering game developers and other creatives based in North East England.

In collaboration with the North East Combined Authority, the North East Shared Success Fund is designed to aid smaller enterprises in areas such as Northumberland, Newcastle, and North Tyneside.

The fund offers up to £25,000 to businesses to aid in the development of their products and services. This amount will be repaid once the project achieves success or a certain revenue level, without any interest.

Additionally, the program includes access to workshops, guidance, and support throughout the development phase.

Creative UK's associate regional director, Carol Bell, emphasized the challenges that new creative businesses face regarding funding and managing cash flow while developing intellectual property and launching new offerings. She stated, "Investment in a creative idea is central to the growth of the creative industries, and with it the creative economy. We hope to engage all specialisms across the sector through this fund."

She further mentioned that the objective is to recycle the repaid funds to aid other creative businesses in times to come.