Create Growth Programme
Helping businesses in England convert their creative potential into creative growth.
Develop your creative potential
The Create Growth Programme was launched in 2022 by the Department for Culture, Media & Sport (DCMS) in partnership with Innovate UK. Designed to support the development of creative industries with high-growth potential across England, outside of London.
The Create Growth Programme – set to be completed in March 2025 – was set up by DCMS with £17.5 million investment in the six original regions, with up to £7 million provided by Innovate UK. In July 2023, the previous government published its Sector vision, in which it announced an additional £10.9 million to support a further six regions. Innovate UK provided another £6.92 million for the grant funding competition.
The Investor Partnerships phase aims to address the ‘equity investment gap’ by encouraging highly innovative micro, small and medium-sized enterprises (SMEs) to attract investment that is aligned to early-stage research and development grant support. This will enable them to attract the necessary level of follow-on investment as they scale and grow.
The challenge
Historically, the Creative Industries have struggled to obtain the necessary level of investment to grow and scale, in part due to investors’ limited understanding of the opportunities for investing in the sector. Investors generally look for scalability and defensible intellectual property (IP) which can be a challenge for creative businesses.
In addition, founders in creative businesses tend to be specialists in their discipline rather than in business, which leads to a broad lack of business skill and understanding. Finally, many smaller businesses aren’t static in terms of size and can have multiple or varied project and IP funding models, such as crowdfunding.
Create Growth Programme Showcase Day
We are calling for investors to join us for the Showcase Day, a national event celebrating and showcasing innovative businesses and talent in the creative industries. The Showcase Day will revolve around Founder-investor networking and highly-focused sessions on raising and driving investment in the creative sector.
Read more and register interest
A regional approach
Delivered by teams in each of the regions, creative businesses with high-growth potential will be able to apply for support to help them prepare for investment and grow their business. Each region has its own distinct approach and bespoke programme, tailored to the businesses in its cohorts. Some regions specialise in certain sub sectors, whereas others pride themselves on a broad range of talent.
Working with each region’s combined authorities, the programme offers targeted support to eligible businesses to help unlock their growth potential. Each region is delivering bespoke support that responds to the specific needs of their local creative businesses.
Regions were selected via an open competition run by the DCMS between July and September 2022. Each region is led by the local council, partnership or combined authority, and comprises several areas, towns and cities.
Find an investor
Innovate UK is delivering investor focused activities, including networking and showcase events, mapping of current and potential investment in the sector, and resources to support the understanding of investment opportunities. We will be working with investors at a national and local level to better understand the investment opportunities in the creative industries.
To take advantage of the Investor Partnerships opportunity creative businesses will need to establish a relationship and level of investment traction with one of the approved Innovate UK Investor Partners before applying for funding. If businesses have an established relationship with an investor that is not on this list they can apply to become an investor partner or approach one of the investor partners to discuss a co-investment.
Find an investor
Impact
The collaboration between Investor Networks and Innovate UK will put capitol in to the regions through the competitions, help to leverage investor partnerships with creative businesses, whilst increased investor understanding of regional creative sector opportunities will sow the seeds for future investment beyond the programme.
By tailoring the support programme to meet the needs of the businesses, the programme will also create a stronger, growing and better-equipped creative sector. It will help to build meaningful relationships between founders and investors, driving increased regional investment to boost growth outside of London, and improve regional understanding of the broader creative network.
Resources
Invest in Creative
We are delivering investor focused activities, including networking and pitching events, mapping of current and potential investment in the sector, and resources to support the understanding of investment opportunities. We will be working with investors at a national and local level to better understand the investment opportunities in the creative industries. Investors can apply to become one of Innovate UK’s investor partners; the most recent process closed on 20 September 2023. Join the programme to hear about further selection processes and other opportunities.
Our Experts
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Related Events and Recordings
Tue
15
Oct
2024
Fri
13
Oct
2023
Lunch & Learn Series Autumn 2023: Create Growth Programme - Investing in the Creative Industries Insights
12.00 - 13.00 | Online
Watch now
Related Case Studies
Levelling the playing field: ClicknClear’s music licensing platform for sports
Funding from Create Growth, a DCMS programme delivered by Innovate UK, and Innovate UK’s Investor Partnerships and Women in Innovation, has helped ClicknClear develop its music licensing platform and leverage private sector investment.
Best foot forward: Create Growth Programme helps Young Soles grow
Support from two of Innovate UK’s programmes has helped Young Soles, a high-quality children’s footwear brand, secure further investment from the private sector.
Blockbuster quality visuals are no longer reserved for Hollywood thanks to CGHero
Innovate UK support and grant funding has unlocked additional investment for CGHero accelerating their journey toward becoming a leading player in the visual content production sector.
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