Indielab 2017 - open to regions now too
Indielab is returning to offer independent TV production companies the opportunity to pitch for investment and receive high-level training from industry leaders and is this year opening the scheme to indies outside London too.
The business growth scheme was founded in 2015 by senior TV executive Victoria Powell (pictured) with the aim to promote a "sustainable and resilient" independent TV sector in the UK.
It is open to small and start-up production companies of which fifteen will be selected. The successful applicants will take part in a series of workshops, lectures, panel discussions, networking events and one-to-one sessions across four months. Indies will gain invaluable insight and training on business planning, distribution, how to maximise revenue streams, corporate finance and investor readiness.
The training will also equip indies with a detailed business model and investment toolkit, which can be used to drive growth and attract investment. The programme will culminate with an investor pitch event, where successful participants will have the opportunity to meet and pitch to individual investors, VC funds and other financial investors.
Participating industry figures include Raw TV founder Dimitri Doganis, Brown Eyed Boy's MD Gary Rike and Emma Wakefield, MD of Lambent Productions.
Indielab is actively seeking applications from companies across all genres and sectors: from factual and scripted production companies, to digital production companies and those led by BAME executives.
For the first time Indielab welcomes indies from outside London to participate in the programme.
To be eligible, the indies must be founded and registered in the UK, with less than £5m revenue. They must have at least two/three broadcast credits within the last three years and be 80% independently owned. Indies backed or owned by broadcasters do not qualify.
The Mayor of London, Sadiq Khan – whose London is Open campaign is supported by Indielab – is backing the scheme.
Deputy Mayor for Culture and Creative Industries, Justine Simons, said: “The success of Indielab’s inaugural programme has demonstrated the huge appetite there is for growth among the UK’s budding TV production companies.
“One in six jobs is generated through London’s creative economies, which is worth £70 bn to the UK, so it is incredibly important that independent companies get support like this to develop their skillsets and networks, enabling them to flourish and add to our city’s status as a world-leader for business and creativity."
As a result of participating in last year’s successful programme, sixteen indies are expected to see a total of £4.9m added to their revenue across the next 18 months, an average £350k per company.
No fewer than 80% of the first cohort also expect to enter a first look or distribution deal within the next six months and 100% of the indies expect to create new jobs in their business over the next 12 months.
Entries for the 2017 programme will be open from 1 December 2016 until 7 February 2017. Production companies can apply to the scheme via the Indielab website and can register their interest here.
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Channel 5 has announced a slate of commissions from seven BAME-owned and managed production companies - a result of its BAME indie initiative launched last September.
Sony Pictures Television (SPT) has acquired London-based production company Eleven, makers of Netflix drama Sex Education.
Channel 4 is speeding up its decision-making process during lockdown with the introduction of fortnightly commissioning rounds.
Screen Scotland has unveiled details of newly ring-fenced development support for Scotland’s independent film and TV companies.
The Edinburgh TV Festival will be presented digitally this year with free access for freelancers.