Create Growth Programme
The Create Growth Programme, led by the Department for Culture, Media & Sport in partnership with Innovate UK, is a multi-million pound investment to support the development of creative industries with high-growth potential across England, outside of London.
The Create Growth Programme was launched in 2022 by the Department for Culture, Media & Sport (DCMS) in partnership with Innovate UK. Designed to support the development of creative industries with high-growth potential across England, outside of London.
Set to be completed in March 2025, this programme is a £17.5 million investment in the sector, with up to £7 million provided by Innovate UK. Eligible businesses in Create Growth regions can apply to Innovate UK for grants and investor partnerships.
West Yorkshire Combined Authority is one of the regions that has been successful in securing funding from DCMS to deliver the Create Growth Programme.
Working closely with Innovate UK, the Combined Authority will build investor networks, creating a stronger creative industries sector ecosystem and pipeline for further investments, including opportunities beyond March 2025.
The Create Growth Programme will deliver targeted business support activities to high-growth potential creative industries businesses in West Yorkshire, developing a pipeline of equity investment.
Businesses on the programme will also have the opportunity to access part of a finance growth support fund totalling £9 million in FY2024/25, as well as an investor capacity building programme.
A bespoke package of business support in the form of an investment-readiness accelerator running from April 2024 to March 2025, targeted at high-growth potential creative industries businesses in West Yorkshire. Support will include:
- Identifying commercial capacity
- Developing a business model
- Sector-specific workshops
- EDI and building a diverse workforce
- Refining the investment proposition
- Deck development
- Engagement with investors (e.g. networking events / engaging with investor networks, in collaboration with Innovate UK)
- One-to-one mentoring by investors
- Pitch events (in collaboration with Innovate UK)
Finance growth support and investor capacity building
As part of the wider Create Growth support package, participating creative industries businesses will have the opportunity to access the other two strands; a finance growth support fund totalling £9 million which will be delivered by Innovate UK, and an investor capacity building programme that will work with investors to help drive investment into the region. Participating businesses on the investment-readiness accelerator will be supported to access these two strands.
Eligibility of participating businesses
This programme is aimed at generating investment in businesses with the following 'high-growth potential' characteristics. However, if your businesses has some but not all of these characteristics, we may still consider it for the programme if we believe it has the potential to become investment-ready as a result of participating in the programme:
- Turnover growth of 10% year-on-year over approximately three years (including either prior to or during the pandemic)
- Employing a minimum of 2 people over the last two years (full-time, part-time or freelance)
- Created a revenue generating product, launched a new platform or service or reached a market of scale
- Generated sales revenue in the last 2 years
We welcome expressions of interest from all eligible business working within the creative industries, however we are particularly interested in supporting the following priority subsectors:
- Convergent Screen Technologies
- TV and Film