Case Study: Codeworks
CODEWORKS is a catalyst for change, innovation and growth in the North East's economy.
Its objective is to create jobs and wealth for the North East by fostering the growth of the region's digital industries - and by building global leadership in specific areas of digital media and technology.
Since its formation in October 2003, CODEWORKS has delivered nearly £50m in economic impact for North East England. A return on investment of more than 1,000% for One NorthEast.
CODEWORKS focuses on three main areas:
Innovation - working with the region's universities and private sector research base to identify world-class expertise and realise a route to market;
Digital industry support - working closely with the region's vibrant and growing digital industries; and
Investment - developing investment channels for digital businesses to bridge the funding gap.
KEY ACTIVITIES INCLUDE:
CODEWORKS ATL - technology for an ageing world
More than half of the UK's adult population will be aged 50 or over by 2020, according to Age Concern. CODEWORKS Assistive Technology Lab (ATL) seeks to find ways of using technology to mitigate some of the physical and mental challenges presented by ageing. ATL has taken the initiative to help the North East become a true global leader in this field.
CODEWORKS Digital Media - looking to the future
Changes in digital media technology and content delivery represent a major new opportunity for the North East. Looking to the future, CODEWORKS is working on a number of major digital projects to take advantage of this. These include a pilot looking at using interactive media technologies for regional television, and a prototype interactive service for the provision of healthcare.
CODEWORKS Connect - active support for digital businesses
Connect is the trade association for digital media and technology businesses in the North East. Since its launch in January 2004, Connect has worked to create more business for these companies - channelling more than £3.5m worth of business leads to its members, hosting regular networking events, and developing a range of services to support the growth of the region's digital industries.
GameHorizon is a collaborative network for the region's computer and video games companies. Since launching in September 2004, it has attracted a host of major developers to the region (including Sony, Microsoft and Electronic Arts). It has led vital trade missions to the world's biggest gaming trade shows. And it has doubled the number of student placements in the region.
Finance - funding growth
CODEWORKS has helped raise more than £3 million for exciting new North East businesses. Its team of digital finance specialists can take companies from start-up, with Proof of Concept funding from NorthStar Equity Investors, to major private financing rounds. In its first year it helped raise more than £1.85m for two companies alone.
Profile raising - showcasing the digital evolution
Raising the profile of an industry generates increased business and investment. CODEWORKS has achieved significant coverage for the digital media and technology industries - securing pieces on or in BBC Panorama, The Guardian, The Financial Times, The Economist and more, as well as in key local titles like The Journal and The Northern Echo.
For more information visit www.codeworks.net/
