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Digital Media Funding

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. davidfurmage@advantagewm.co.uk.

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Digital Media Funding

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  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 davidfurmage@advantagewm.co.uk …or why my region is spending €19m over 3 years on digital media

  2. Presentation Outline..! Profile of the West Midlands What is Innovation Centered Funding? Defining ‘Digital Media’? Keys to Success Summary of our funding experience Our Approach to Funding & Support Lessons learnt and relevant thoughts for many…

  3. West Midlands is a UK leader in digital media Population 5.3 million 9% of the UK population Birmingham, 2nd City only to London rich mix of communities with diverse cultural backgrounds

  4. digital media … influences everbody’s lives …from leisure and lifestyle… …to business and communications…

  5. digital media … influences everbody’s lives …from leisure and lifestyle… The creative and cultural sector is 10% of the West Midlands economy… …to business and communications…

  6. Regional Strengths in West Midlands… 20% UK Games Production serious games UK hub, games based learning, virtual worlds, co-funded SGI

  7. Regional Strengths in West Midlands… 20% UK Games Production serious games UK hub, games based learning, virtual worlds, co-funded SGI Filmactive region For production Interactive media Top New media agencies

  8. Regional Strengths in West Midlands… 20% UK Games Production serious games UK hub, games based learning, virtual worlds, co-funded SGI Filmactive region For production Interactive media Top New media agencies BIRMINGHAM major digital hub for UK MUSIC PRODUCTION Birmingham top 5 global destination for diversity Talent. Higher education. Easy to reach. low cost

  9. What is Digital Media? One of those terms that has many meanings! Digital television, digital radio, internet and mobile

  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. What is Digital Media? For our Digital Media and Innovation Funds it is … Public Service Broadcaster in UK. Funded by adverts. 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. Pixel Learning

  12. What is Digital Media? Imagined and alternative life networks anything interesting we’ve Missed..! For our Digital Media and Innovation Funds it is … Interactive Learning and leisure 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. On-line Journalism and Broadcasting Collaborative knowledge networks Computer aided social networks Pixel Learning Peer to peer and file sharing technologies Digital new media includes… Thought of as content, but can equally cover coding and technology creation

  13. Our Approach to Funding & Support … Innovation needs to be built on solid foundations. We must get the basics right for businesses to grow... understanding… …the journey idea Journey from seed to product launch

  14. Our Approach to Funding & Support … To get the basics right … We have identified three ‘journeys’ that we must understand when setting policies… understanding… …the journey SME Journey from start-up to maturity and growth idea Journey from seed to product launch Information journey to navigate the opportunities and the support our policies ensure funding roots clear for all these ‘journeys’

  15. Our Approach to Funding & Support … … Screen Agency leads on ‘At Market’ Funds for projects, skills Development and business support… Birmingham €5m film Fund €750K development Fund skills, education, festivals, archive, scripting, shorts… BIG GAP for a fund TO BACK ‘DIGITAL MEDIA’ GROWTH.

  16. Launching a Digital Media Fund Public Service Broadcaster in UK. Funded by adverts. Birmingham A lesson in Giving projects enough resources to succeed €50m 4IP Digital Media Fund launched English & welsh Commissioning hub in Birmingham "to deliver publicly valuable content and services on digital media platforms"

  17. Launching a Digital Media Fund Public Service Broadcaster in UK. Funded by adverts. Birmingham €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 artspartners. €6.3m from AWM

  18. Innovation Centred Funding Approach… ALL FUNDING DISCUSSED SO FAR IS ‘AT MARKET’. INNOVATION NEEDS US TO THINK WIDER - TLR SCALE 10 At Market Cluster 9 Final proving 8 Test and demo 7 Prototype demo-real Commercial & VC Innovation 6 Prototype demo-lab 5 Validation-real University TSB 4 Validation-lab 3 Proving concepts 2 Concept/application formulated 1 Basic Principles TLR - Technology Readiness Levels

  19. Innovation Centred Funding Approach… 10 At Market Cluster 9 Final proving 8 Test and demo 7 Prototype demo-real Commercial & VC Innovation 6 Prototype demo-lab 5 Validation-real University TSB 4 Validation-lab 3 Proving concepts 2 Concept/application formulated 1 Basic Principles TLR - Technology Readiness Levels

  20. Innovation Centred Funding Approach… Near Market Exploit 2.0 now 10 At Market Cluster 9 Final proving Digital Media Fund 8 Test and demo 7 Prototype demo-real Commercial & VC Innovation Innovation Funding Proof of concept 6 Prototype demo-lab 5 Validation-real University TSB 4 Validation-lab 3 Proving concepts 2 Concept/application formulated 1 Basic Principles TLR - Technology Readiness Levels

  21. Innovation Centred Funding Approach… Film, Development Other Cluster Near Market Exploit 2.0 now 10 At Market Cluster 9 Final proving Digital Media Fund 8 Test and demo 7 Prototype demo-real Commercial & VC Innovation Innovation Funding Proof of concept 6 Prototype demo-lab 5 Validation-real University TSB 4 Validation-lab 3 Proving concepts 2 Concept/application formulated 1 Basic Principles TLR - Technology Readiness Levels

  22. Keys to Success … Development Fund €750K up to €70K pilots, pitches conditional loan Most popular measure with SME’s Links to and extends Business link support framework

  23. Keys to Success … Sustainable funding of these is a challenge… Development Fund €750K up to €70K pilots, pitches conditional loan Most popular measure with SME’s Hot housing Ideas Innovation Labs Dare to be Digital hot housing & mentoring v effective for SME’s Competitions, hot-housing talent, 5 days to 10 weeks with payment to take part, mentored by industry Links to and extends Business link support framework We hope Our 3rd ‘Key’ will be the DIGITAL MEDIA FUND

  24. In Summary… innovation centred funding Create Funds with support Build on talent & strengths Identify growth companies Give projects enough resources too succeed

  25. In Summary… innovation centred funding Create Funds with support Build on talent & strengths Identify growth companies Give projects enough resources too succeed Give a chance to ideas that make no sense! Be flexible on short-term output measures Build national and international collaboration

  26. West Midlands… thank you for listening! davidfurmage@advantagewm.co.uk …the heart of digital media in the UK

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