U.K. Regional Agency Hopes to Grow Media Sector With Seed Funding

$100,000-plus cashpool established for North East England film and TV wannabes.

LONDON – Film and TV production banners and producers from the North East of England are to be given the chance to grab some funding to boost their business.

Newcastle-based creative industry development agency Northern Film & Media said it is looking to use a small sum – £75,000 ($117,000) – seed existing business expansion in the creative arts.

The cash will be available for successful applicants for company expansion or production projects in order to create jobs in the sector.

The pilot Creative Jobs Fund is the first of its type in the U.K. to be ring-fenced for the creative industries.

Combined with match funding, the cashpool will create an investment pot of £150,000 ($233,000) “to stimulate the creation of new jobs and growth in the sector.”

To date, the region’s creative companies have had a poor-record in attracting investment from centralised and other non-sector specific funds.