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CANNES 2011 Market / UK

Scotland gets financing boost

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The Scottish Government is investing £1m (over €1.13m) into a number of new initiatives, via Creative Scotland, to help boost Scottish cultural content and audiences, and to promote Scottish film companies.

As part of the deal, Glascow-based Sigma Films is to receive one quarter of the cash to help set up its distribution arm, Sigma Releasing, to co-release films with other distributors. The company’s You Instead, by David Mackenzie, is screening at the Cannes Market.

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Creative Scotland will also put money into a co-venture with the Aegis Fund and Prescience, which will be named the MacKendrick Fund. This will offer debt and equity finance to local and international films with a Scottish component.

The Virtuous Circle will receive £100,000 (€113,552) for a new model to test documentary financing through audience engagement and crowd sourcing. La Belle Allée/Savalas Sound Post Equity Fund will receive £125,000 (€141,940) to offer equity investment to attract international productions to Scotland and to give discounts for local films.

Creative Scotland is the national body for Scotland’s arts, screen and creative industries. Its partners include broadcasters, local authorities and investment agencies such as Scottish Enterprise and Highlands and Islands Enterprise.

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