Navigating the UK Games Fund’s Content Fund

The UK gaming sector is exciting, dynamic and constantly innovating. But with specialised teams, game engines, software licences and cloud services to pay for, it's an expensive business to be in.

There's a range of government support available for UK games studios, and one of the most significant is the UK Games Fund's Content Fund. It offers grants of £100,000 to £250,000 to help semi-established studios get a commercial game ready for market, and Expressions of Interest are open now.

What is the UK Games Fund's Content Fund?

The UK Games Fund has been supporting early-stage game development since 2015. The government recently confirmed continued funding for the programme as part of the Growth for Games strategy, a joint plan with industry to drive growth, build talent and develop skills across the creative sectors.

The Content Fund is the largest of the three UK Games Fund programmes. It offers commercial games-for-entertainment content grants of £100,000 to £250,000, a significant increase on the £50,000 to £150,000 previously available. The Starter Fund and Prototype Fund sit earlier in the pipeline, offering smaller grants to less established studios.

Who can apply to the Content Fund?

The Content Fund is aimed at registered, active UK games companies with a track record. To apply, you'll need to show:

• You're a UK-registered SME with PAYE employees engaged in games development work in the UK.
• Your ownership structure is clearly set out, with UK-based founder-director(s) holding a significant shareholding.
• Your business isn't currently facing acute working capital challenges or unusual financial risk.
• You and your co-founders can fully explain the rationale behind your business structure and growth strategy, particularly if you have dispersed teams or rely heavily on contractors.

The UK Games Fund prefers not to fund brand new start-ups, or companies set up specifically to apply. That said, a start-up may still be considered if the founders can clearly explain the structural rationale and there's an immediate publishing opportunity arising from their track record.

It also helps if you already have some PAYE employees alongside your founding directors, and if you've been funded before, you'll need to show how that earlier support contributed to your growth.

What does the project need to look like?

Beyond the company itself, the UK Games Fund has specific requirements for the project you're applying with. Your game needs to:

• Have a prototype already in place.
• Have IP that's owned by your company, or licensed on terms aligned with the project's long-term needs.
• Be a primary focus of your current development portfolio.
• Have an entertainment focus, with the potential to reach a commercial audience at scale.

You'll also need to show you understand your target audience and have a plan to reach them, along with a funding rationale that makes sense given your company's finances.

Grants won't be awarded for projects with gambling elements, content the UK Games Fund considers reputationally damaging, non-digital games, already-launched titles, non-commercial or non-entertainment projects, student or graduation work, or anything that couldn't get a PEGI rating.

The UK Games Fund prefers to fund projects where the IP was originally developed by the applicant, used during early-to-mid development, and spent over a 6 to 12 month period starting within four weeks of the offer.

How does leverage work?

One of the most important parts of a Content Fund application is leverage. The UK Games Fund expects your overall project costs to be at least double the grant you're requesting, and you'll need a strong case for the grant unlocking extra resources, new relationships, or access to a platform or audience you couldn't reach otherwise.

In practice, this often means a publisher advance or other private investment that the grant helps you secure. The UK Games Fund holds back 30% of your grant until that leverage is fully contracted, and it normally needs to be secured within the same financial year as your award.

It's worth noting that the lowest possible grant relative to your total project costs will be looked on favourably. The UK Games Fund is aiming for the minimum level of intervention needed, so a modest ask backed by a strong leverage case is often a stronger application than a maximum one.

How does the Content Fund work?

If you're successful, you'll receive 70% of your grant before the project begins, usually within four weeks of completing your contract. The remaining 30% follows once your leverage has been secured and committed to the project, within the same financial year.

Throughout the project, you'll need to submit monthly update reports on progress. At the end, you'll also need to provide an impact survey and an accountant-certified financial report covering all project spend, both of which are compulsory. An external evaluation of the Content Fund runs alongside the programme, and you'll be expected to engage with the evaluation contractor at convenient points.

All directors of funded companies need to verify their identity. Grants of £100,000 or more must also be logged on the UK Government's Subsidy Database, under the Arts and Culture Streamlined Route. The UK Games Fund will be in touch if your award triggers this requirement, but you're responsible for confirming your own eligibility under the Subsidy Scheme at the time of award.

How do you apply for the Content Fund?

The first stage is to create a profile with the UK Games Fund.

To apply for the Content Fund, you’ll start with an Expression of Interest. This is an early indicator of your eligibility and your project scope. You’ll provide:

• An application name
• Applicant details (company and contact information, details about previous grants)
• A checklist to ensure your game qualifies
• Project details (budget, grant required, timescale and any other information)
• Details about your leverage

Projects accepted after Expression of Interest will be invited to provide more information before a grant is agreed.

You must check that calls for Expressions of Interest are open; UK Games Fund runs different grant calls at different times. At the time of writing, Expressions of Interest are open.

Frequently asked questions

We've had UK Games Fund support before. Can we still apply?

Yes, previous funding doesn't rule you out, but you'll need to show how that earlier project contributed to your growth, for example by helping you secure an early-access audience or attract publisher interest.

If you've previously had Content Fund support, you can't apply for the same project again. The UK Games Fund also won't normally fund a company more than once in the same financial year, or fund a project that runs alongside or immediately after an existing grant.

What does the contract look like?

The UK Games Fund aims to provide a plain English offer letter setting out the key terms, without imposing repayment, revenue share or IP ownership conditions after the project ends. However, you'll need to return the grant during the project if you don't meet your reporting and monitoring obligations or diverge from your agreed plan.

There's also a community contribution obligation, asking you to give back time to the games development community after your project ends.

How much should we apply for?

The UK Games Fund wants to keep its intervention to a minimum, always less than half your total project budget, and applications with a lower rate of intervention are prioritised.

What can the grant actually be spent on?

Funding covers UK PAYE employee and contractor costs for hands-on content development only. Directors' loan accounts, accountants' fees, marketing, business development and community management costs are all ineligible.

Does the Content Fund cover porting or sequels?

Not normally. The Content Fund is primarily for projects completing a game's IP for the first time, rather than follow-on work. There may be exceptions, for example reviving an older IP alongside renewed publisher interest and new investment, but this would need a strong supporting case.

Can our team include non-UK staff or contractors?

It doesn't automatically rule you out, but you'll need to show through monitoring and reporting that there's no cross-subsidy from the grant. Your final certified report will need to reconcile UK PAYE and contractor records with bank transactions for the funded work.

How long is the Content Fund open for?

The UK Games Fund is funded until 31 March 2029, though high demand could close applications earlier. It's worth putting your application together as early as possible, while taking the time to refine your pitch.

Key takeaways

• The Content Fund now offers grants of £100,000 to £250,000, up from the previous £50,000 to £150,000 range.
• Your overall project costs need to be at least double the grant, with 30% held back until your leverage is secured.
• Expressions of Interest are now open.

Why Myriad?

Whether you're applying for the Video Games Expenditure Credit or a Content Fund grant, getting an accurate, well-prepared application in first time matters. Myriad takes the worry out of putting your claim together and makes the process feel less like a lottery.

Myriad's team has nearly two decades of experience in funding of all types, and our video games tax specialists and grant application writers are happy to guide you through the process. To find out more about video games tax incentives or the UK Games Fund, contact us to discuss your situation.