Presentation on theme: "Creative Industries Innovation Fund David McConnell Creative Industries Development Officer."— Presentation transcript:
Creative Industries Innovation Fund David McConnell Creative Industries Development Officer
CIIF 2 DCAL have invested £4m over to continue to grow and develop the creative industries. This currently includes a refocused Creative Industries Innovation Fund (CIIF 2) which will provide support for innovative development of commercially viable content, products, services and experiences capable of competing in global markets. Programme for Government target – 200 projects to be supported by CIIF has currently supported 150 projects Thrive video
CIIF 2 to date August/September 2011 – Digital Content Only 41 projects awarded funding Projects completed by 31 st March 2012 February 2012 – Open to all creative sector 51 projects awarded funding Projects completed by 31 st March 2013 September 2012 – Architecture only 5 projects awarded funding Projects completed by 31 st March 2013 February 2013 – Open to all creative sector 53 projects awarded funding Projects completed by 31 st March 2014 CIIF Case studies
CIIF 2 – 5th & Final Round of Funding Opening – 6 th January 2014 Closing – 4pm, 13 th February 2014 In this round of funding, priority will be given to applicants who have not previously received any CIIF funding Decisions – May 2013/Funding available June 2014? Pre-Application Workshops Open and one to one sessions Belfast & Derry throughout January & early February Regional workshops can be arranged
CIIF 2 FUNDING ALLOCATION A minimum of 80% of all available funding for awards in CIIF 2 will be allocated to creative businesses, and a maximum of 20% to sectoral development bodies Awards to businesses will not exceed £10,000 Awards to sectoral development bodies are capped at £20,000 CIIF 2 is now open to all creative industries sub-sectors, but digital content themed projects from any area of the creative industries are encouraged. The programme will aim to support up to 40% of all available funding for awards supporting digital content themed projects
WHO CAN APPLY? ALL creative businesses in Northern Ireland, including Sectoral Development Bodies, working within the Creative Industries are eligible to apply in this round of CIIF 2. All sole traders/partnerships MUST be registered with Revenue and Customs and provide a copy of their UTR along with evidence of a business bank account. Limited companies and Partnerships must also be fully constituted. Start up businesses can apply but MUST be fully constituted and registered prior to applying for any CIIF award.
CRITERIA FOR DECISION MAKING Key difference from previous rounds is that the criteria in application forms has been reduced 1.Stated priorities of the programme 2.Degree of innovation 3.Return on investment 4 th Criteria is ONLY for previous CIIF recipients
CRITERIA FOR DECISION MAKING 1. The extent to which the proposal meets CIIF 2 priorities. Cross sector collaboration Export focus activity Innovation & entrepreneurial potential of NI’s culture, arts & leisure base You MUST address all 3 priorities (no fewer than 200 and no more than 500 words)
CRITERIA FOR DECISION MAKING 2. Degree of innovation and contribution to innovation, R&D and creativity in the economy. 6 QUESTIONS You will need to RANK the ones that are the most relevant to your project (max 100 words per question)
CRITERIA FOR DECISION MAKING 3. Return on Investment, Sustainability and potential for longer term business success. MUST demonstrate a defined return on investment (increase in turnover/job creation/profitability etc) Linked with the TWO turnover forecasts for 2014/15 & 2015/16 requested as separate enclosures (no fewer than 200 and no more than 500 words)
What can I apply for? Existing staff costs (up to 50% of the award) New staff posts Freelance/short term contracts Content/product development costs Reasonable travel costs Reasonable advertising/marketing costs Reasonable market research costs Aim to proportion you budget
What I can’t apply for? Capital (equipment/machinery/hardware/software) Websites/E-commerce sites/development or modification of websites etc Business overheads (rent/electricity/mobiles) Business start up costs Legal costs
NEW ONLINE PROCESS The Arts Council has changed its on-line processes, to enable you to complete the short form and attach all required documents on-line. If you choose to submit on-line you must submit ALL documents and the application form at the same time, there will be no opportunity to submit documents after the deadline. If you choose to submit in hard copy ALL documentation must be supplied in hard copy. The Council will not accept applications partly on- line and partly in hard copy.
Section 6 – Enclosures! PLEASE READ AND RE READ Absolutely critical to the success of your Application Sole Traders/Partnerships MUST be registered with HMRC (remember, this can take up to 6 weeks) SIGN/DATE relevant memorandum/policies Equal Opps is mandatory Child Protection (if applicable) All policies are in addition to the ACNI statements within application forms
Section 6 – Enclosures! Detailed budget (breakdown of request/show rationale) Detailed project description (include project timeline/Gantt chart – June 2014 – March 2015) –Define proposal/ what’s going to be achieved by 31 st March 2015 (new product/service etc) Income/expenditure forecasts for 2014/15 & 2015/16 – critical to show sustainability & return on investment (£10,000 seed funding through CIIF will generate £xx of revenue etc)
Section 6 – Enclosures! Financial records Start up businesses (not yet registered set of accounts) evidence of business bank account and relevant bank statements Limited company –Last audited accounts (Signed/dated as adopted) –If earlier than 31 st March 2013, then you MUST provide most recent management accounts Sole Trader/Partnerships –MUST submit previous financial record no earlier than 31 st March 2013 and evidence of business bank account with 3 months statements
Section 6 – Enclosures! Don’t make assumptions! ………………..…………………………………………. AND READ AND RE READ SECTION 6 CHECKLIST BEFORE SUBMITTING!
What should I do next? For further information contact: Creative Industries Innovation Fund team on /270/204 or or or Sectoral support organisations: –Northern Ireland Screen on or –Digital Circle – Also have a look at our website
Final Advice READ & RE READ guidance notes & application forms! Exceptionally Competitive Fund Expectation of 120+ applications ONLY fund approximately 50 projects per funding round (target of 200 project by 2015) Only one application per funding round
Final Advice Be clear & concise in application form –Paper based exercise/ one opportunity to sell your project & business Define the innovation! (competitive fund – what is going to differentiate your application from others) –From June 2014 onwards, what is your business going to do differently –From April 2015 – will the business be in a better place etc
Final Advice Address the 3 criteria –(4 criteria for previous CIIF recipients) Commercially focused – must show viability and sustainability (what is the award going to return for your business?) –Can your new & innovative new project deliver up to £XX of new revenue?? –Will you be a more sustainable business because of CIIF? –Main focus is on the applicant business Grow business turnover/create jobs etc
Final advice Provide rationale for your budget (do you really need £9,999.99?) previous round we provided awards from £2,500 upwards) More realistic requests means more businesses potentially being funded? Show research undertaken that there is need for your project and budget is based on quotes/people you have spoken to –Remember it’s public funds so procurement will be required Complete Enclosures!!!