Creative UK has today announced an investment opportunity for talented creative companies in the North of Tyne to further boost the region’s thriving cultural sector. The North of Tyne Combined Authority has committed a further £2 million towards the North of Tyne Culture and Creative Investment Programme (CCIP). The CCIP launched in 2021 and has since invested over £1.5 million in loans, equity and grants into the Creative Industries, as well as leveraging an addition £1 million through private sector investment. In addition to investment the programme has provided business support to hundreds of Creative sector business’s and freelancers working in the North of Tyne area.
Carol Bell OBE, Associate Regional Director, North, Creative UK, said:
The region’s Creative Industries are an incredibly rich prospect for investment. Between 2011 and 2020, they grew by 68% – the fastest of any UK region – and today contribute more than £1 billion to the local economy annually, employing 46,000 people. The creative sector helps ignite pride of place among local communities and unlocks new opportunities for young people to discover their own creativity.
We are very grateful to the North of Tyne Combined Authority for recognising the sector’s economic and social value within the region and are delighted that they have committed to funding the continued success of the North of Tyne Culture and Creative Investment Programme.
Mayor Jamie Driscoll, North of Tyne Mayor, said:
Imagination is more important than knowledge. Einstein said this and who am I to disagree.
Creativity spans all areas of life. It is a vital driver of culture and commerce. This funding will help to unleash the creative talent in our region. The North East companies pitching for investment are great examples of what can be achieved with imagination and hard work. Investment propositions as diverse as children’s animation, esports clubs and protective sports headwear that reduces the risk of concussion.
In partnership with Creative UK, we’re making sure bright ideas can become rewarding realities.
Learn more about Creative UK’s work in the North East here.