North East Shared Success Fund
Are you a creative business with a vision for developing new content, products or services? The North East Shared Success Fund is here to support you. You can now apply for up to £25,000 of repayable finance to bring your idea to life which you start repaying once your project or business succeeds.
About the Fund:
- Innovative Funding Model: Our fund offers a unique and low risk repayment structure based on shared success. You repay the money if your project succeeds or your business achieves a certain amount of turnover – no interest, no early pressure.
- Tailored Support: Unlike traditional funding, we provide a supported application process. Benefit from access to mentors, workshops, and one-to-one guidance to help you refine your idea and increase your chances of success.
- Creative Freedom: This fund is designed specifically to help you develop a new product or service, giving you the freedom to focus on your idea.
The North East Shared Success Fund is an exciting new investment initiative for creative businesses in the Northumberland, Newcastle or North Tyneside area. Our goal is to support small and medium-sized creative enterprises by advancing repayable funding to businesses looking to co-finance creative intellectual property (IP) rich projects.
If your application is successful, Creative UK will advance up to £25,000 of repayable finance to your company. Investment repayment is triggered by either the commercialisation of the IP which is the basis of your application, or by means of a shared success premium which relies on the successful growth of your company.
The revenue share will depend on the nature of your project and the wider project funding package.
Funding is limited so don’t miss your chance to accelerate your business.
The fund is delivered by Creative UK and funded by the North East Combined Authority.
North East Shared Success Fund webinar
Sign up for our exclusive webinar to learn everything you need to know about this exciting new funding opportunity. This session is designed to guide you through the application process.
By attending the webinar, you will also get access to up to 3 hours of one-to-one mentoring to support you through the applications process to maximise your chances of success.
What to expect from Webinar:
- Overview of the North East Shared Success Fund: Understand the unique benefits of this funding model and repayment terms, designed specifically for creative businesses.
- Application Expectations: Gain insights into what the Creative UK are looking for and how you can stand out.
- Guidance on Proposal Questions: Learn how to craft compelling answers to the key questions on the application form.
- Completing Financial Templates: Get step-by-step guidance on filling out the financial sections with confidence.
- Exclusive Mentoring Opportunity: Businesses attending the webinar will be eligible for up to 3 hours of one-to-one mentoring to support their application process.
Event Details:
- Date: Thursday 19th September 2024
- Time: 10am-12pm
- Location: Online
Key Details:
Investment Amount: £15,000 – £25,000 per business.
Limited Availability: Early application is strongly encouraged.
No Immediate Repayment: Finance is interest-free and only repayable when your project or business achieves success.
Support and Mentoring: Access mentoring throughout the application process, with additional support offered even if your application is unsuccessful.
Timeline: First Rounds Applications close midday October 14th 2024. Funds to be deployed between November 2024 and March 2025.
Eligibility:
- You must be registered as a business in Newcastle, North Tyneside, or Northumberland.
- You must be operating in the cultural or creative industries.
- You must provide a compelling return on investment proposition in your application.
What we mean by cultural and creative industries:
