Screen Scotland has launched an initiative to help the local film and TV production community connect with angel investors, with the possibility of securing £50,000 of investment.
‘Lights, Camera, Capital’ aims to give Scotland-based scripted and unscripted producers with an active development slate an understanding of how to work with angel investors.
The programme will also familiarise angel investors with the screen sector, its investment opportunities and talent pool.
Producers will be paired with a business ‘angel’ for mentorship. The programme will include a pitching element, where producers pitch their project and investment proposition to a panel of angel investors.
‘Angels’ will make on-the-day decisions about committing investment to each of the projects, and at what level of investment, up to a maximum of £50,000 in total per project.
Tax relief
Angel investors are private individuals who put early-stage capital into a company in exchange for equity, usually alongside others in a syndicate.The term was coined by Broadway insiders in the early 1900s for the wealthy backers who funded risky theatrical productions.
UK angel investors can claim substantial tax reliefs through government initiatives like the Seed Enterprise Investment Scheme (SEIS) and the Enterprise Investment Scheme (EIS).
This pilot programme is funded by £40,000 from the Screen Scotland and the Scottish Government’s Ecosystem Fund. It is one of 44 programmes backed by the £1.75m Scottish Government’s Ecosystem Fund, launched in June.
The angel investors will be led by Glasgow-based entrepreneur Lynne Cadenhead.
Producers must be based in Scotland and have a company registered in Scotland, with a track record in raising finance and an active development slate. Applications close on September 7.
The first phase of the initiative will deliver an in-person and online learning programme through a series of workshops that will take place from the end of September to the beginning of January, for both producers and investors.
Screen Scotland says the programme is “specifically targeting producers that can think outside of the traditional dealmaking structures and take an innovative approach to financing screen projects”.
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