One week left to get share of £600,000

Rochdale businesses have just one week left to get their hands on £600,000 worth of ‘Creative Credits’ that will be given to the first wave of applicants. The UK’s innovation body NESTA (National Endowment for Science, Technology and the Arts), is currently piloting a world-first programme in Greater Manchester offering small businesses creative support to help them to become more profitable.

‘Creative Credits’ will award each successful SME £4,000 worth of external creative input for their own £1,000 investment, helping to develop ideas that can transform their company’s prospects.

Interested SMEs have until 9 October 2009 to register their interest. The successful SMEs will be chosen at random and notified on 16 October.

Commenting on the programme, NESTA’s Chief Executive, Jonathan Kestenbaum says “If companies want to prosper, they need to place more value on innovation and working with the creative industries. The Creative Credits scheme will encourage more SMEs to do this by giving them a cash incentive to take that first step.”

The application process is quick and simple – businesses answer a short online questionnaire and if eligible, will be entered into a draw. Successful applicants will be able to spend the Credits with a creative business of their choice, as long as the latter are registered on NESTA’s online gallery and their project meets the programme criteria.

NESTA is partnering with Manchester City Council, the Economic and Social Research Council, the Northwest Regional Development Agency and the Arts and Humanities Research Council in investing £600,000 in the pilot. It will award 150 companies with Creative Credits in two waves – the first 75 will be picked in October, and the second February 2010.

Further information: www.creative-credits.org.uk