Manchester agencies to get share of £600,000 of new biz
Greater Manchester agencies are being encouraged to take part in a new scheme to get a share of £600,000 of investment being pumped into the region's creative sector.
The National Endowment for Science, Technology and the Arts (NESTA) is to hand 150 Greater Manchester SMEs £4,000 for their own £1,000 investment – but on the condition that they spend these 'creative credits' with local agencies.
The lucky SMEs will start to choose which agencies they want to work with from an online gallery. Agencies wanting to be in with a chance of picking up this new business need to be SME-size themselves and should register their details on the Creative Credits website.
Hasan Bakhshi, director for creative industries in NESTA’s policy and research unit, said: “This is a groundbreaking programme which will have a multiplier effect in terms of stimulating Manchester’s economy – both for the benefit of SMEs and creative businesses.
“As Greater Manchester is one of the UK’s leading creative industry hubs, we felt it was an obvious choice for the pilot. We will be tracking the development of all the businesses taking part so that we can measure conclusively the additional impact this has on stimulating innovation and growth."
NESTA, the UK's innovation body, recently highlighted the creative industries as one of the UK’s most important growth sectors. It estimates that the creative industries will contribute £85bn to GDP and employ almost 1.3 million people by 2013.
The organisation has partnered with Manchester City Council, the economic and Social Research Council, the Northwest Regional Development Agency and the Arts and Humanities Research Council to fund the pilot programme.