Seed funding scheme for indie startups

Trade body UKIE has urged game developers to take advantage of the UK’s Seed Enterprise Investment Scheme.

The SEIS gives startups a boost by offering tax relief to individual investors.

Investors can give eligible startups up to £100,000 in a single year, and claim up to fifty percent back in tax relief.

The scheme requires several criteria be met by the company recieving investment:

• have 25 or fewer employees
• have no more than £200,000 in assets at the time the investment is made
• be UK-based
• be undertaking a new business (be a start-up)
• not be listed on any recognised stock exchange
• not have previously raised money under the Enterprise Investment Scheme or Venture Capital Trust scheme

In addition, the company must not be owned by the investor.

Each company can recieve a maximum of £150,000 in SEIS funding.

Ukie has produced a fact sheet for interested developers, which can be accessed here.