Leeds City Region Enterprise Partnership (the LEP) has launched a new initiative to support digital businesses at Halifax Digital Festival.
The region is becoming an increasingly established digital community and with the imminent arrival of Channel 4’s national HQ, including a Digital Content Unit, the spotlight is on the region to excel.
The digital sector is worth £1 billion in turnover to the City Region economy and digital growth is forecast to increase 10% in the next five years, which is ten times the rate of the growth of other sectors.
In support of this the LEP is launching the #Grow funding programme specifically for digital businesses operating within the region. The fund provides eligible businesses with a 50% contribution towards a capital expenditure project, up to a total of £50,000.
The support builds on the LEP’s digital inward investment fund, #welcome which supports digital businesses moving to the region, and now this initiative will support the growth of this sector further by championing those companies who are already based in the region.
Roger Marsh OBE, chair of Leeds City Region Enterprise Partnership and NP11 said: “When the LEP launched #welcome we wanted to encourage inward investment, however we also recognise we have a role to support existing businesses in order to optimise growth within the sector.
“We have so much talent already in Leeds City Region and we know that in supporting those businesses, they will create more jobs and offer training opportunities.”
Sally Joynson, chief executive at Screen Yorkshire, said: “Recent achievements such as winning the Channel 4 bid have come about as a result of years of hard work and collaboration across the screen industries and the digital community has been a vital part of that success.”