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Digital Media Funding

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Digital Media Funding

  1. 1. Digital Media Funding Innovation Centred Funding for the Digital Media Age… Cannes, 21 May 2008 David Furmage Digital Media Policy Lead & Screen, Image & Sound Cluster Manager Regional Government, UK. 044 121 503 3397 www.advantagewm.co.uk [email_address] … or why my region is spending €19m over 3 years on digital media
  2. 2. Presentation Outline..! Profile of the West Midlands What is Innovation Centered Funding? Keys to Success Summary of our funding experience Our Approach to Funding & Support Defining ‘ Digital Media’? Lessons learnt and relevant thoughts for many…
  3. 3. West Midlands is a UK leader in digital media Population 5.3 million 9% of the UK population Birmingham, 2 nd City only to London rich mix of communities with diverse cultural backgrounds
  4. 4. digital media … influences everbody’s lives … from leisure and lifestyle… … to business and communications…
  5. 5. digital media … influences everbody’s lives … from leisure and lifestyle… … to business and communications… The creative and cultural sector is 10% of the West Midlands economy…
  6. 6. Regional Strengths in West Midlands… 20% UK Games Production serious games UK hub, games based learning, virtual worlds, co-funded SGI
  7. 7. Regional Strengths in West Midlands… Film active region For production 20% UK Games Production Interactive media Top New media agencies serious games UK hub, games based learning, virtual worlds, co-funded SGI
  8. 8. Regional Strengths in West Midlands… 20% UK Games Production Interactive media Top New media agencies Talent. Higher education. Easy to reach. low cost BIRMINGHAM major digital hub for UK MUSIC PRODUCTION Birmingham top 5 global destination for diversity serious games UK hub, games based learning, virtual worlds, co-funded SGI Film active region For production
  9. 9. What is Digital Media? Digital television, digital radio, internet and mobile One of those terms that has many meanings!
  10. 10. What is Digital Media? Digital television, digital radio, internet and mobile Screen, Image & Sound Cluster All ‘digital creative industries’ Film, television, animation, interactive media, games, radio, music, digital imaging
  11. 11. What is Digital Media? For our Digital Media and Innovation Funds it is … Pixel Learning Distribution platforms such as broadband, mobile and digital broadcasting which have emerged in contrast to traditional analogue broadcasting. Includes internet based and mobile distribution systems and technologies which permit a more complex, interactive relationship and allow users to create, modify and comment on content. Public Service Broadcaster in UK. Funded by adverts.
  12. 12. What is Digital Media? For our Digital Media and Innovation Funds it is … Digital new media includes… Computer aided social networks Pixel Learning Distribution platforms such as broadband, mobile and digital broadcasting which have emerged in contrast to traditional analogue broadcasting. Includes internet based and mobile distribution systems and technologies which permit a more complex, interactive relationship and allow users to create, modify and comment on content . Peer to peer and file sharing technologies Collaborative knowledge networks Thought of as content, but can equally cover coding and technology creation On-line Journalism and Broadcasting Imagined and alternative life networks Interactive Learning and leisure anything interesting we’ve Missed..!
  13. 13. Our Approach to Funding & Support … idea Journey from seed to product launch Innovation needs to be built on solid foundations. We must get the basics right for businesses to grow... understanding… … the journey
  14. 14. Our Approach to Funding & Support … idea Journey from seed to product launch To get the basics right … We have identified three ‘journeys’ that we must understand when setting policies… SME Journey from start-up to maturity and growth Information journey to navigate the opportunities and the support understanding… … the journey our policies ensure funding roots clear for all these ‘journeys’
  15. 15. Our Approach to Funding & Support … € 5m film Fund € 750K development Fund skills, education, festivals, archive, scripting, shorts… BIG GAP for a fund TO BACK ‘DIGITAL MEDIA’ GROWTH. Birmingham … Screen Agency leads on ‘At Market’ Funds for projects, skills Development and business support…
  16. 16. Launching a Digital Media Fund € 50m 4IP Digital Media Fund launched English & welsh Commissioning hub in Birmingham "to deliver publicly valuable content and services on digital media platforms" Public Service Broadcaster in UK. Funded by adverts. A lesson in Giving projects enough resources to succeed Birmingham
  17. 17. Launching a Digital Media Fund Public Service Broadcaster in UK. Funded by adverts. € 6.3m from AWM € 50m 4IP Fund launched by Channel 4. Includes €12.5m ring-fenced for West Midlands Backing commercial potential, but not a VC Fund. Open to other commercial and arts partners. Birmingham
  18. 18. Innovation Centred Funding Approach… 10 At Market Commercial & VC TLR - Technology Readiness Levels 9 Final proving 5 Validation-real 2 Concept/application formulated 4 Validation-lab 1 Basic Principles 3 Proving concepts 6 Prototype demo-lab 8 Test and demo 7 Prototype demo-real University TSB Cluster Innovation ALL FUNDING DISCUSSED SO FAR IS ‘AT MARKET’. INNOVATION NEEDS US TO THINK WIDER - TLR SCALE
  19. 19. Innovation Centred Funding Approach… 10 At Market Commercial & VC TLR - Technology Readiness Levels 9 Final proving 5 Validation-real 2 Concept/application formulated 4 Validation-lab 1 Basic Principles 3 Proving concepts 6 Prototype demo-lab 8 Test and demo 7 Prototype demo-real University TSB Cluster Innovation
  20. 20. Innovation Centred Funding Approach… 10 At Market Commercial & VC TLR - Technology Readiness Levels 9 Final proving 5 Validation-real 2 Concept/application formulated 4 Validation-lab 1 Basic Principles 3 Proving concepts 6 Prototype demo-lab 7 Prototype demo-real University TSB Cluster Innovation Innovation Funding Proof of concept Digital Media Fund Near Market Exploit 2.0 now 8 Test and demo
  21. 21. Innovation Centred Funding Approach… 10 At Market Commercial & VC TLR - Technology Readiness Levels 9 Final proving 5 Validation-real 2 Concept/application formulated 4 Validation-lab 1 Basic Principles 3 Proving concepts 6 Prototype demo-lab 8 Test and demo 7 Prototype demo-real University TSB Cluster Innovation Film, Development Other Cluster Innovation Funding Proof of concept Digital Media Fund Near Market Exploit 2.0 now
  22. 22. Keys to Success … Development Fund € 750K up to €70K pilots, pitches conditional loan Links to and extends Business link support framework Most popular measure with SME’s
  23. 23. Keys to Success … Development Fund € 750K up to €70K pilots, pitches conditional loan Hot housing Ideas Links to and extends Business link support framework Most popular measure with SME’s Innovation Labs Dare to be Digital Competitions, hot-housing talent, 5 days to 10 weeks with payment to take part, mentored by industry hot housing & mentoring v effective for SME’s Sustainable funding of these is a challenge… We hope Our 3rd ‘Key’ will be the DIGITAL MEDIA FUND
  24. 24. In Summary… innovation centred funding Create Funds with support Give projects enough resources too succeed Build on talent & strengths Identify growth companies
  25. 25. In Summary… innovation centred funding Create Funds with support Give projects enough resources too succeed Build on talent & strengths Be flexible on short-term output measures Identify growth companies Build national and international collaboration Give a chance to ideas that make no sense!
  26. 26. West Midlands… thank you for listening! [email_address] … the heart of digital media in the UK

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