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TIGA Calls for the Launch of a Video Games Investment Fund
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TIGA, the network for games developers and digital publishers, and the trade association representing the video games industry, has called on the Chancellor to introduce a Video Games Investment Fund (VGIF) in the 2018 Budget to enhance studios’ access to finance, promote the development of original IP and to encourage studio growth.
The VGIF would make grants or loans of between £75,000 and £500,000 available to games businesses on a matched funding basis. TIGA made the comments in a new report, Sustaining Success: A Video Games Investment Fund (October 2018) in advance of the Chancellor’s Autumn Budget on October 29th 2018.
Tom Watson MP, Deputy Leader of the Labour Party and Shadow Secretary of State for Digital, Culture, Media and Sport, said:
“Britain’s video games industry is a world leader, and it’s vital that it stays that way. TIGA’s proposal for a Games Investment Fund is something Labour is seriously considering as a way to boost innovation, investment and jobs in the sector. We need to make sure we sustain success in one of our most important creative industries.”
Chris Law MP, Co-Chair of the All Party Parliamentary Group for Video Games in the Westminster Parliament, said:
“Establishing TIGA’s proposed Games Investment Fund would boost investment and employment and help to grow the video games industry in the all of the UK’s creative hotspots, including the Dundee and wider Scottish games development clusters.”
Access to finance is a challenge for many UK games developers
Games developers typically struggle to raise debt finance because they have relatively few assets and little financial track record. Equally, most venture capitalists and business angels will not invest in games because of high risk levels, low knowledge levels about the industry and high, largely fixed costs of due diligence relative to the amount of equity sought. This creates a market failure in access to finance.
A Solution: A Video Games Investment Fund
The Government should introduce a VGIF to improve developers’ access to finance:
- The VGIF could provide funding of between £75,000 and £500,000 to games developers nationwide. Funding between £75,000 and £100,000 would be delivered as grants while above £100,000 soft loans would be matched pound for pound to ensure that games companies find new investment from other sources.
- A commercial mentoring business advisory service, staffed by paid industry veterans, would be mandated for successful companies.
- The VGIF could be financed via Grant in Aid, the British Business Bank or the National Lottery and could be managed by the UK Games Talent and Finance Community Interest Company, the BGI, a British Business Bank-backed fund such as Mercia Technologies, the British Film Institute or the Arts Councils.
The impact of the VGIF
Research commissioned by TIGA shows that the VGIF would have a positive impact on the UK’s games industry and wider economy. The return on investment of £26.5m over 5 years represents good value for money and over the five years from 2019 to 2023, the VGIF would:
- increase headcount by nearly 1,500 staff;
- create over 2,700 indirect jobs in the supply chain around games development;
- encourage games companies to invest an additional £215 million in development expenditure;
- contribute an additional £197 million in tax revenues over 5 years;
- help 175 studios (17 per cent of total);
- increase Gross Domestic Product (GDP) by an additional £480 million.
Dr Richard Wilson OBE, TIGA CEO, said:
“TIGA’s plan for a Video Games Investment Fund would improve developers’ access to finance, encourage the creation of new IP and strengthen the UK video games industry. The matched funding criteria would attract new investment from new investors into games and drive employment in the industry. The VGIF would also enhance productivity growth in the sector by catalysing investment in capital, skills and innovation.
“A similar scheme in Finland operated by the agency Tekes has provided financial support to over one fifth of the entire Finnish games industry’s studio population. The programme has more than paid for itself: for every euro invested by Tekes in the games industry, a return ranging from nine to 26 euros has been generated.”
Ahead of the 2018 Budget, TIGA has called on the Chancellor to introduce the VGIF, reform the Apprenticeship Levy into a more general Training Levy, and make sure that video games companies have access to skilled foreign workers by keeping salaries for Tier 2 visas at competitive levels.
About TIGA:
TIGA is the network for games developers and digital publishers and the trade association representing the video games industry. Our core purpose is to strengthen the games development and digital publishing sector. We achieve this by campaigning for the industry in the corridors of power, championing the industry in the media and helping our members commercially.
TIGA is intent on building an enduring organisation which continually improves; a business that will make a significant impact on the games industry and so benefit our membership and the wider economy. Since 2010, TIGA has won 24 business awards, an achievement which reflects TIGA’s drive for improvement and to meet best practice.
The economic impact assessment of the GIF has been carried out by Games Investor Consulting. For a copy of Sustaining Success: A Games Investment Fund (TIGA, October 2017), please contact: suzi@tiga.org
Source: Latest News on European Gaming Media Network
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Red Bull announces brand-new Trackmania tournament ‘Red Bull Faster’, set to descend on Red Bull Racing’s Milton Keynes HQ
Start your engines as Red Bull teams up with top Trackmania creator Øyvind “Wirtual” to bring the ultimate high-speed tournament to Red Bull Racing’s Milton Keynes HQ.
An adrenaline-fueled showdown, Red Bull Faster is set to take place on 1 March at MK-7, with online qualifiers open from 24 January, 7pm CET (6pm GMT / 10am PST) until 7 February. Players globally can head to the in-game club ‘Red Bull Faster’ to access the tournament’s custom maps.
Hopeful competitors can put the pedal to the metal, racing across 3 challenging maps in Time Attack mode to clinch the best cumulative time on the global leaderboard. The Top 100 fastest players will advance to the stage 2 online qualifiers, with the Top 8 securing a coveted spot on the starting line at the offline Grand Finals in Milton Keynes.
Hosted by an iconic Trackmania creator, “Wirtual” will be livestreaming all the daring jumps, hairpin turns, and dizzying loops of the high-octane competition across his YouTube and Twitch channels. With the clock ticking, it’s time for seasoned pros and rising racers to grind the ladder, burn rubber on the virtual speedway, and drift, dive, and drive to pole position before qualifiers close on 7 February.
As Red Bull Faster gears up to be the ultimate test of speed and skill, racing fans can also join the action with limited in-person spectator tickets now available. Tickets include food for attendees and photo opportunities with Red Bull’s F1™ race cars.
The post Red Bull announces brand-new Trackmania tournament ‘Red Bull Faster’, set to descend on Red Bull Racing’s Milton Keynes HQ appeared first on European Gaming Industry News.
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“GR8 Tech is dedicated to excellence in iGaming technology. Our solutions are designed not only to be fast, reliable, and innovative but to empower operators with a competitive edge in their markets. ICE 2025 was a celebration of our journey so far and a showcase of the market-leading solutions that define us. We are thrilled to continue pushing the boundaries of what’s possible in iGaming and delivering the tools our partners need to lead their markets as undisputed champions,” said Sergey Ghazaryan, CRO at GR8 Tech. GR8 Tech at ICE Barcelona 2025: The UNbelievably GR8 Recap!
A Game-Changing Partnership Usyk’s RTF Platform
The partnership with Ready to Fight was officially officially unveiled during the third day of ICE 2025 with a presentation by GR8 Tech’s CRO, Sergey Ghazaryan, and Bohdan Salii, CVO at Ready to Fight. The presentation attracted a mix of conference attendees, including industry leaders from organizations like Clarion Gaming and SiGMA Group, who gathered to witness the launch of this exciting collaboration.
Following the presentation, the stand came alive with an engaging arm-wrestling challenge. Prominent industry leaders, founders, and top managers from SiGMA Group, NEXT.io, Gaming Operations Academy, ICS-digital, and others participated, bringing energy and excitement to the event. The ultimate prize—a pair of boxing gloves signed by Usyk—went to the winner of the challenge, Zakaria El Maaroufi, Head of M&A Brokerage at SiGMA Group. To keep the fun going, a lottery draw later in the day gave attendees another chance to win their own signed gloves, making it a truly memorable experience.
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As the first major event of the year, ICE sets the tone for business opportunities and innovation across the industry. GR8 Tech used this opportunity to introduce a refreshed product portfolio solution, known for delivering an adaptable, scalable, and cost-effective platform that guarantees above-market profit margins. Visitors were also introduced to the updated Sportsbook Turbo iFrame, which provides an award-winning sportsbook that can be integrated within a week. The showcase of the Infinite Casino Aggregation impressed attendees with its vast selection of over 15,000 games and over 175 game providers, appealing to those looking to diversify and expand their portfolios with ease.
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Looking ahead
After celebrating its milestone birthday at ICE, GR8 Tech is energized for the year ahead. With an UNprecedented roadmap for 2025, the company’s next major trade show is iGB Live in July—with new surprises from the RTF partnership in store. Stay tuned for more exciting updates from GR8 Tech as the journey continues.
The post UNdisputedly GR8 ICE 2025 with GR8 Tech, RTF by Oleksandr Usyk, and the Leaders of iGaming appeared first on European Gaming Industry News.
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The 31-year-old continues to inspire a nation through his performances in the UFC octagon and hopes to see more people take up the sport after firmly putting African MMA in the spotlight in 2024.
The post Betway signs UFC Champion Dricus “Stillknocks” du Plessis as Global Ambassador appeared first on European Gaming Industry News.
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