LONDON — Creative London, a substantial package of support for the capital’s 13 creative industries, was launched Monday by London Mayor Ken Livingstone’s London Development Agency.
Creative London pledges a £50 million ($88 million) seed fund for 10 years and the establishment of 10 creative hubs across the city. The first $17.6 million for the seed fund is secured by the LDA.
According to Michael Frye, chairman of Creative London, nine months of consultation with industry honchos has made it clear that there is a need to “unblock the … needless bureaucracy which stifles creative talent.”
The message from Frye is clear: For every breakthrough talent, there are many who should be making it but are not due to a lack of business support. The creative hubs will offer this support.
Creative London has also given the new Film London org a financial boost of $5.2 million over three years to help it cut the red tape that makes filming in the city a headache.
London is the third busiest production location in the world, generating $1.76 billion in spending annually.