Creative businesses in the East Midlands are being given the chance to benefit from £1.2 million of funding to accelerate growth, create jobs and stimulate investment.
The Leicester and Leicestershire Enterprise Partnership (LLEP) led a consortium of regional partners – including De Montfort University – to successfully bid for a share of the Government’s Create Growth Programme.
The regional investment will support growth in creative sectors in Leicester and Leicestershire, Derby and Derbyshire, Rutland and Greater Lincolnshire.
The project is supported by partners including universities, Innovate UK, local businesses, and non-profit organisations.
The LLEP will now work out how the money will be shared around and bring in specialists to work with applicants. The programme is due to start in early 2023 and expressions of interest will be invited later this year.
Applicants will also have the opportunity to apply for finance support from a £7 million Government fund delivered by Innovate UK.
The LLEP said creative industries are worth more than £100 billion to the UK economy and account for 2.3 million jobs. Its figures suggest there are more than 2,500 creative and cultural businesses in Leicester and Leicestershire.
LLEP chair Andy Reed OBE said: “We’re delighted to lead the successful bid to bring this Create Growth investment to the East Midlands.
“Although the LLEP is focussed on supporting growth in Leicester and Leicestershire, neighbouring counties will also benefit from opportunities this programme provides.
“Leicester and Leicestershire's creative sector has created nearly 4,000 jobs since 2010. It has real potential to grow high-skilled, high-wage employment.
“Currently, the vast majority of our creative businesses are micro-sized - Create Growth provides them with the chance to scale.”
Yasin El Ashrafi BEM said: "The Create Growth programme will provide a welcome boost to the city's economy by supporting the development of our creative industries.
"This investment will help create new jobs and opportunities for growth, not just in Leicester but across the East Midlands, and we look forward to working with our partners to continue to develop this important sector."
Yasin El Ashrafi BEM is managing director of HQ Recording Studio and HQ CAN CIC, in Leicester, which helps young people from difficult backgrounds.
He said: "This investment will help to accelerate the process of achieving that recognition.
“The training and support on offer could be a game-changer for growing our diverse talent pool of creative SMEs."
