Unlocking Potential for Creative Businesses in the North East
Are you a creative business with a vision for developing new content, products or services? The North East Shared Success Fund is here to support you. You can now apply for up to £25,000 of repayable finance to bring your idea to life which you start repaying once your project or business succeeds.
The North East Shared Success Fund is an exciting new investment initiative for creative businesses in the Northumberland, Newcastle or North Tyneside area. Our goal is to support small and medium-sized creative enterprises by advancing repayable funding to businesses looking to co-finance creative intellectual property (IP) rich projects.
If your application is successful, Creative UK will advance up to £25,000 of repayable finance to your company. Investment repayment is triggered by either the commercialisation of the IP which is the basis of your application, or by means of a shared success premium which relies on the successful growth of your company.
The revenue share will depend on the nature of your project and the wider project funding package.
Funding is limited so don’t miss your chance to accelerate your business.
The fund is delivered by Creative UK and funded by the North East Combined Authority.
Investment Amount: £15,000 – £25,000 per business.
Limited Availability: Early application is strongly encouraged.
No Immediate Repayment: Finance is interest-free and only repayable when your project or business achieves success.
Support and Mentoring: Access mentoring throughout the application process, with additional support offered even if your application is unsuccessful.
Timeline: First Rounds Applications close midday October 14th 2024. Funds to be deployed between November 2024 and March 2025.
Eligibility:
What we mean by cultural and creative industries: