TIGA Calls for the Introduction of a Games Investment Fund

TIGA Calls for the Introduction of a Games Investment Fund

LONDON, November 18, 2016 /PRNewswire/ --

    TIGA, the network for games developers and digital publishers, and the trade
association representing the video games industry, called today for the introduction of a
Games Investment Fund to improve studios' access to finance, encourage the development of
original IP and to enhance studio growth. TIGA's proposal for a Games Investment Fund
would entail grants or loans being made available to games businesses on a pound for pound,
matched funding basis, up to a maximum of GBP200,000. TIGA made the comments in advance
of the Government's Autumn Statement on November 23rd 2016 and in the TIGA - ITN
Productions programme, Changing the Game:
http://tiga.org/news/presenting-tiga-and-itn-productions-changing-the-game

    Chris White MP, a leading Parliamentarian and Chair of the All Party Parliamentary
Group for Video Games in the Westminster Parliament, commented on TIGA's proposals:

    "I endorse TIGA's proposal for the introduction of a Games Investment Fund and am keen
that the Government looks closely at its work in promoting the video games industry. As
Co-Chair of the APPG for Video Games, I am acutely aware of this sector's significant
contribution to our economy and culture. Access to finance is typically a concern for
small firms and I commend TIGA for developing these proposals that will support growth."

    Dr Richard Wilson, TIGA CEO, said:

    "Access to finance is the biggest challenge for many games studios in the UK. TIGA's
proposal for a Games Investment Fund would enhance developers' access to finance,
encourage original IP generation and strengthen the UK video games industry. The matched
funding criteria would encourage investment and job growth.

    "An analogous scheme in Finland operated by the agency Tekes has been very successful.
The scheme has provided financial support to over one fifth of the entire Finnish
industry's studio population. The scheme has also been good for the Finnish taxpayer and
Government:

    for every euro invested in the games industry by Tekes, a return ranging from nine to
26 euros has been generated."

    Jason Kingsley OBE TIGA Chairman and CEO and Creative Director at Rebellion, said:

    "TIGA's proposals for the Autumn Statement include eight ideas for strengthening the
UK video games industry. TIGA's policy proposals include suggestions for improving access
to finance, enhancing skills and training and promoting exports. TIGA hopes that the
Government will give particular consideration to our proposals for enhancing access to
finance."

    TIGA has made eight proposals to drive the UK video games industry forward:

       
        1) A Games Investment Fund (CCF) should be established in order to improve studios'
          access to finance, stimulate new content development and IP generation. The Games
          Investment Fund could make grants or loans available to games businesses on a pound
          for pound, matched funding basis. The Games Investment Fund could be financed via the
          National Lottery or via Grant-in-Aid money from the Government.

      2. The Government should retain Video Games Tax Relief and consider increasing the
rate of the Relief.

      3. The Government should consider increasing the rates of Research and Development
Tax Relief.

      4. The Government should maintain the UK Games Fund which provides valuable
prototype funding for small games businesses.

      5. The amount of money that a company can raise via SEIS investment should be
increased from GBP150,000 to GBP200,000 per annum to reflect the rise in development
budgets required to make internationally competitive games.

      6. Specialist roles should be added to the Shortage Occupation List (including, but
not limited to, Game Analyst, Senior Game Artist, Senior Game Designer, Senior Producer,
and Engine Programmer). This will enable games businesses to address skill shortages in
highly specialised roles.
  7. The Government should extend the Skills Investment Fund to promote skills development
in the video games industry.

      8. The Government should consider allowing the proceeds of the Training Levy to be
available to fund a variety of good quality courses as well as apprenticeships.

    The Rt Hon, Philip Hammond MP, Chancellor of the Exchequer, will present the Autumn
Statement on November 23rd 2016.

                                           - ends -

    About TIGA

    TIGA is the network for games developers and digital publishers and the trade
association representing the video games industry. Our core purpose is to strengthen the
games development and digital publishing sector. We achieve this by campaigning for the
industry in the corridors of power, championing the industry in the media and helping our
members commercially.

    TIGA is intent on building an enduring organisation which continually improves; a
business that will make a significant impact on the games industry and so benefit our
membership and the wider economy. Since 2010, TIGA has won 24 business awards, an
achievement which reflects TIGA's drive for improvement and to meet best practice.

    For more information visit: http://www.tiga.org

       
         
        Get in touch: 

        Tel: 0845 468 2330 
        Email: info@tiga.org 
        Web: http://www.tiga.org 
        Twitter: http://www.twitter.com/tigamovement 
        Facebook: http://www.facebook.com/TIGAMovement 
        LinkedIn: http://www.linkedin.com/company/tiga 

     

TIGA

CONTACT: For further information, you can also contact: Dr Richard Wilson, TIGA CEO at: richard.wilson@tiga.org