Funding Boost for Welsh Media Sector: 24 Innovative Projects Awarded
Media Cymru has announced its latest round of funding for the Welsh media sector, with 24 innovative projects being awarded grants. The Development Fund, which provides up to £50,000 for successful applicants, aims to support the development of ideas into tangible products and services that will benefit the Welsh media industry.
The projects selected for funding in 2024 cover a diverse range of areas, including virtual event experiences, the use of ethical AI, next-generation music-based Extended Reality, and the development of new pipelines into 2D and 3D animation. These exciting ventures are set to push the boundaries of storytelling, business practices, and technology within the creative sector.
Ten of the funded projects have advanced from the Media Cymru Seed Fund and will continue their Research and Development (R&D) journey. These projects focus on areas such as Esports training, improving access to Virtual Production, and exploring the use of immersive technologies in therapy. By supporting these initiatives, Media Cymru aims to foster innovation and drive growth in the Welsh creative economy.
Professor Justin Lewis, Director of Media Cymru, expressed his enthusiasm for the funded projects, highlighting the importance of exploring new ways of storytelling, conducting business, and leveraging emerging technologies. The goal is to collaborate with the selected businesses and freelancers, assisting them in creating valuable products, services, and experiences that will contribute to the social, cultural, and economic fabric of the Welsh creative industry.
Media Cymru’s commitment to nurturing creativity extends beyond just monetary support. They have developed an Innovation Pipeline that offers various training and funding opportunities tailored to creatives at different stages of their careers and development. This comprehensive approach ensures that artists and entrepreneurs have access to resources and guidance necessary for their success.
The successful projects will have up to 12 months to complete their development, after which they may have the opportunity to apply for Scale Up funding. The Scale Up Fund offers grants of up to £250,000 for projects of significant scale and ambition, capable of driving transformation and delivering international impact.
Media Cymru’s Scale Up Fund will reopen in September 2024, providing further opportunities for ambitious projects to secure additional funding. For more information and details regarding the application process, interested parties are encouraged to visit the Media Cymru website.
This latest funding round underscores the commitment of Media Cymru to bolstering the Welsh media sector and nurturing innovation within the creative community. By investing in groundbreaking projects, they aim to position Wales as a hub of creative excellence, generating economic growth and international recognition.
