Fund invests final £850k in Leeds digital businesses
Two digital studios have been awarded a total of almost £850,000 in funding from the Leeds Tech Hub Fund in its final round of grants.
Duke Studios has received £393,000 which is the company’s first capital funding to date.
It will put the funds towards a new digital and technology event centre which will feature state-of-the-art projection and sound and streaming facilities.
These will include an innovation lab that will to support and nurture local companies wanting to compete on a global scale.
FutureLabs received the remaining £455,000 to help early stage tech companies develop and grow, through the coordination of meet-ups and events. It aims to follow in the footsteps of the pop-up project in the Eastgate area of the city.
"Leeds has an extremely strong digital sector, and through the Leeds Tech Hub Fund it has been fantastic to be able to provide support to six innovative projects in the city that aim to help nurture and support the emerging tech business of the future,” said Councillor James Lewis, Leeds City Council’s executive member for resources and strategy.
"The quality of bids which we received was outstanding and far exceeded the money available, which is I believe testament to the many creative and talented people and businesses in the Leeds tech sector.
"I am delighted to be able to announce that the two final projects to receive assistance from the fund will include the creation of a state of the art events space and prototyping facility by Duke Studios, and the continuing important work by FutureLabs with early stage tech businesses.
"While the digital sector in Leeds is fast-growing we are certainly not being complacent. We will be continuing to work closely with partners to ensure that progress continues to be made here in the city and also with the parallel investments in Manchester and Sheffield to promote the growth of the northern tech sector."
The two grants will be the last to be awarded by the hub, which received £3.7m in total from the Department of Culture, Media and Sport.