News and fast facts In November, 2004, the Welsh Assembly Government launched its strategy ‘Creative success - a strategy of the creative industries in Wales’ which aims to help Wales-based creative businesses achieve profitability, sustainability and make a positive contribution to the Welsh economy.The strategy marks a positive and significant change in public sector service to commercial creative businesses and includes a £7 million Wales Creative IP fund. Creative industries’ support in Wales has been restructured and unified to create the ‘Hub’, or new Wales Creative Industries’ Support Service, which will spearhead the development of the creative industries in Wales.The ‘Hub’ will become a central focus of future support for the creative industries in Wales, providing focused, sophisticated supportThe ‘Hub’ is made up of experienced professional advisors with a balance of skills and creative industries’ experience who will work with creative businesses. The strategy’s initial focus is on film, television and music, as well as the opportunities new technologies present content creators. This does not mean excluding other sectors that are also able to make a significant contribution to the Welsh economy by exploiting creative IP. Indeed, it is envisaged that design and print media will be the next two sub-sectors to be supported by the service.Skillset Cymru and the Creative and Cultural Skills sector skills council are collaborating with the Welsh Assembly Government to satisfy the skills needs.The £7million Wales Creative IP fund acts as a ‘gap financier’, financing a production alongside finance that has already been secured from other funders. The fund will be managed by Finance Wales, working with the ‘Hub’.Advisory panel of industry figures will guide the operation of the ‘hub’ and the Wales Creative IP fund.
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