Media skills for media people

Posts Tagged ‘funding’

NESTA – Raise the Game

Tuesday, July 8th, 2008

NESTA today announced a £450k war chest to help foster innovation in the games industry. Four strands of activity have been announced to help new companies, small and growing companies, and even some bigger companies will get support to counteract the difficulties being caused by the current skills shortage.

Following on by the coverage gained by the Games Up? Campaign this is really good news for games companies in the UK, and provides a real opportunity to a lot of games developers to focus on innovation and new and exciting projects.

Some good partners announced – the Dare to Grow scheme will be a partnership with Abertay and Dare to be Digital and will support the placement of interns within smaller games companies – there should be real value there for both the trainee and the employer.

Other initiative include a Crossover Lab with a focus on games, and a staff ’swap shop’ enabling job shadowing and skills swaps with other areas of the creative industries.

Finally there is a Business Mentorship Scheme for 10 companies, this feels similar to things that Skillset has run in the past in the TV and Interactive sector, and again, should be of great benefit to the companies taking part.

Full details on all four strands are here: www.nesta.org.uk/raisethegame

New Finances for the Games Industry

Friday, April 25th, 2008

I’ve been meaning to do this update for a few days – but that has been useful to run this topic by a few people. My interest has been sparked by attending a BSAC event on Monday night in the West End, which focused on new models of funding for the games industry, and ways in which developers in particular can access investment, without having to sign exclusive deals with publishers.

BSAC’s involvement was to suggest that the games industry can learn a thing or two from films and the ideas of slate and portfolio funding, better bonding practises, and other financial safeguards, to ensure that investors get their money back whether a game is a hit or not.

In addition there was a theme (I expect to do with the presence of Tiga) of empowering developers by giving them less restrictive partnerships with financiers – ie someone who is interested in return on investment, not on the content of the game.

So – it seems one of the key challenges for games companies going forward will be raising finance for games. This is something that has traditionally involved successfully pitching ideas to publishers but will now include convincing investment bankers to take a percentage stake in a company or property.

There are a few companies doing this already but are the skills needed for this financial world present already in games, or will they need to be developed?

(more…)

Skillset blog has been set up to stimulate and encourage debate around skills issues within the Creative Media Industries. The individuals who post at Skillset blog work at Skillset. The opinions and ideas expressed are their own and are not necessarily reviewed in advance by anyone but the individual authors. Neither Skillset nor any third party necessarily agrees with them.

© Skillset Blog, all rights reserved.  |  Skillset Blog is powered by WordPress.