A further £350,000 funding has been approved by the council to support the growth of ambitious businesses looking for external finance in the digital creative sector.

The Digital Creative Recovery Grant scheme was created in January to assist businesses with product development or key activities that lead to obtaining further private sector investment. Such was its success of that the Council will now offer a second round of match-funded grants between £10,000 to £30,000 with applications welcome for five weeks from today.

The fund is open to small and micro businesses in the digital creative sector who have been in business for a minimum of three years. It is designed for businesses that are already looking to raise finance to grow but are facing challenges in securing private sector investment, or those accelerating activities to put them in a position to raise additional finance.

Among businesses to benefit from the first round of funding was Leamington Spa-based digital studio Yellow Panther whose match-funded £30,000 grant went towards software designed to get a new product out to the market.

“The grant helped us massively at a really important time,” said Yellow Panther co-founder Stuart Cope. “We spent 18 months building an exciting new platform but also have 25 current clients to serve so we are very busy, so the grant eased the pressure a lot. We invested the money in two full-time roles and one part-time role to create the marketing materials around the new product.

“The process of getting the grant was really smooth. Stacy O’Connor and Louisa Smith from the County Council were very supportive and flexible and always quick to respond…really refreshing to deal with.”

As part of their application, businesses will be required to evidence their growth plans and demonstrate how the funding will bring them closer to achieving their growth ambitions. WCC’s Business Growth Team will be available for an informal initial chat to ensure eligibility for the fund before businesses will be invited to full application.

Cllr Martin Watson, WCC Portfolio Holder for Economy & Place, said: “The first round of the Digital Creative Recovery Grant was a great success in supporting businesses with their growth plans and we are delighted to offer this further opportunity in one of Warwickshire’s key economic sectors.

“The first round of funding was very competitive and we are excited to see what innovative products and services are brought forward for consideration this time round.”

To register your interest and book an initial discussion with our business advisors please email invest@warwickshire.gov.uk

For more information, please visit https://www.warwickshire.gov.uk/dcfund