WGE MAG: 31
Finding S
tandfast Interactive and Chancery (UK) LLP have come together, in a games industry first, to launch a tax efficient games production finance business for UK games companies.
Since the inception of home computer gaming in the 1980s, the UK has built an impressive reputation for delivering quality, innovative and inimitable video game titles. This had led to the development of a highly successful video games development and publishing sector that has revolutionised global interactive entertainment.
In 2008, the UK was ranked the third largest centre of video games development in the world. In 2009 the UK games development community had fallen to be the fourth largest in the world after the US, Japan and Canada. However by 2010 it had fallen to sixth largest and is under continued pressure. This is despite the fact that many of the world’s leading interactive games are made within the UK although, unfortunately, the ownership of the intellectual property created and the resultant revenues very often leaves these shores.
The Finance
“Chancery are leaders in the field of tax incentivised investments, having raised investment in excess of £600,000,000 in the last three years alone”
Once a powerhouse of worldwide video games publishing, the UK has seen more and more of its publishers either fall victim to outside takeovers or the pressures of competing unequally on the global stage. Tax schemes and financial incentives in other countries such as Canada, France, Japan and Finland have helped companies in these countries steal a lead on UK based firms.
Founded by video games entrepreneur Morgan O’Rahilly, Standfast Interactive is a specialist financier and production company for the interactive entertainment industry. The business was established to provide a full range of financing solutions to independent Developers, Producers, Publishers and Distributors of games and interactive entertainment.
Standfast looks to help games companies create innovative financing routes to realize their ideas and bring their products to market.
To combat the decline in profile of the UK in the global games market, Standfast has teamed up with the Chancery (UK) LLP to support the innovation activities of the video games industry in the UK. Chancery are leaders in the field of tax incentivised investments, having raised investment in excess of £600,000,000 in the last three years alone – making this an ideal relationship.
Standfast’s management team has a long pedigree in the video games industry. With in excess of 100 games credited to them and having demonstrated a clear understanding of maximising product potential in the competitive landscape of interactive entertainment, Standfast are well placed to assist their partners develop content without ceding creative ontrol or lose ownership of their intellectual property.
Further details can be found at
www.standfastinteractive.com or
www.chancerypartnership.com
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