The UK is throwing its weight behind the creative economy with the launch of a £150m fund created in partnership between government and industry as the countries new industrial strategy takes hold.
The Creative Industries Sector Deal was brokered with the Creative Industries Council to offer additional support and opportunities for part of the economy valued at £92bn and employing 2m people.
£33m of this is being earmarked specifically for virtual reality games, interactive art shows and augmented reality tourism, a relatively small amount of upfront capital that it is hoped will increase Britain’s share of global creative immersive content to £30bn by 2025.
Secretary of State for digital, culture, media and sport, Matt Hancock, commented: "Our creative industries will help develop the talent of the future, ensure people are rightly rewarded for their creative content and give our firms the support they need to compete on the global stage.
Millions of people around the world enjoy our world-class artistic and cultural output and we want Britain to stay a frontrunner in these vibrant sectors.”
Other aspects of the far-reaching deal include the establishment of a creative industries trade and investment board; fresh moves to crackdown on copyright infringement and the establishment of The London Screen Academy offering creative diplomas.