Phil Elliott
15:10 (BST)
25/10/2007
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Nordic fund swamped by demand
Applications for development capital in the region far outweigh available cash
The Nordic Computer Game Programme, a body set up by the governments of Denmark, Finland, Sweden, Iceland and Norway, has revealed that applications for this year's fund far outstrips the DKK 5 million that was available.
In all there were 101 applications for funding for Nordic game development projects across the year, with a total amount applied for of over DKK 50 million - ten times that which was available.
Erik Robertson, head of the Nordic Computer Game Programme, admitted to having mixed feelings about the results.
"On the one hand I am proud that our funding programme has had such a great impact, and that we are now receiving applications from all parts of the Nordic countries.
"On the other hand, over 100 applications in one year is a lot in relation to the total number of Nordic games companies.
"This is both because DKK 5 million doesn't stretch very far considering that the total amount applied for is more than DKK 50 million, but mostly because it indicates a steep rise in the need to attract capital to this industry."
Funding across the year was split into two rounds of DKK 2.5 million each, with the first round grant split between seven applicants.
Recipients of grants from the second round will be announced at the D3 Expo in Copenhagen from November 16 - 18.
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