Ingenious Ventures has announced its latest tranche of support for early-stage businesses, in the form of a £2.25m investment pot. It is on the hunt for companies in the media and creative industries that qualify for the government’s Seed Enterprise Investment Scheme (SEIS), a scheme that offers investors considerable tax relief on money put into young, small enterprises. It will dish out packages of up to £150k (the maximum limit for SEIS tax relief) to the 15 chosen recipients.
Ingenious is one of a very limited number of funds with an explicit preference for creative businesses in the UK, and, as such, competition is likely to be fierce for this cash. Interestingly, Ingenious claims that this sector contributes to an impressive 6% of the country’s GDP.