UK government launches £4 million Prototype Fund

The UK government has launched a new £4 million ($6.1 million USD) fund to help support Britain's growing games industry.

The program, dubbed the Video Games Prototype Fund, will offer smaller developers grants of up to £25,000 ($ 38,000) to help them create working prototypes. Grants of £50,000 ($76,500) will also be made available to a limited number of applicants who want to take promising concepts beyond that stage.

Over the next four years the fund will also be used to run a number of talent development initiatives, which will include competitions that allow students and graduates to build and showcase new games and gain valuable work experience.

The fund will be managed by the UK Games Talent and Finance Community Interest Company, who will explore joint ventures with the likes of BAFTA, UKIE, the British Film Institute, and Creative England.

Ed Vaizey, the UK's minister for culture and the digital economy, hopes the money will help developers attract substantial private investment going forward.

“Britain’s video games punch well above their weight internationally and we need to build on this and invest in the strength of our creativity," said Vaizey.

"This fund will give small businesses, start-ups and individuals the support they need to better attract private investment and go on to create the blockbusters of tomorrow."

The program is expected to begin accepting applications through the UK Games Fund websitein the near future.