The UK’s Technology Strategy Board (TSB) has announced a new £1 million funding competition to support creative and digital businesses in East London – the Tech City area around Old Street and Shoreditch. Companies can apply for funding of up to £100,000 for their projects, with the TSB helping them to find another £100,000 of matching funding for their projects. Startups who enter will also be introduced to the TSB’s IC tomorrow digital test bed scheme, which from this summer will be run out of Shoreditch. “This unique competition is designed to promote the community dynamic within the Tech City area, encourage cooperation and grow business in the area,” explains TSB director of innovation programmes David Bott. “We want to support this hotspot of digital and creative industries by enabling companies to go further and faster towards commercial success.”

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