Matchlight RSA

[David Smith]

Matchlight released its first press release last week and the Scotsman, Herald and Broadcast all picked up on it to various degrees. We’ve announced the Regional Selective Assistance Award we’ve secured from Scottish Enterprise.

We’ve been awarded £40,000 in 2009 against a total to £250,000 over the three years to 2012 provided we hit SE’s tuff targets for job creation.

It’s like an old school record deal. If we release 8 albums and they all go platinum we get the headline payment. If we don’t, we won’t. All of the payments are retrospective, paid against audited costs already incurred.

RSA (http://www.rsascotland.gov.uk/rsa/CCC_FirstPage.jsp) is Scottish Enterprise’s main investment grant scheme for businesses in designated areas of Scotland (‘assisted’ areas). Whether or not you can get it depends on which postcode your business is based in, and the amount available depends on a range of factors including whether your business is classed by SE as small, medium or large.

RSA is awarded to companies in assisted areas to enable them to proceed with new projects. We applied before Matchlight was up and running so almost the whole company was classed as a new project (though some jobs were excluded as pre-existing within the scheme’s narrow criteria). If the project application is successful RSA reimburses the applicant company with a set percentage of the project’s capital costs and salary expenditure – the percentage reimbursed varies depending on a range of factors.

It’s a good scheme. Existing companies can use it to support new projects. Inward investors and start-ups can too (if they meet the criteria). If you are thinking about starting something new in Scotland - maybe a completely new business, maybe a move into something new to you (factual to drama or TV to digital media) its worth talking to SE asap to see if they can help.

[Scottish Enterprise]

Thanks for your positive summary of the RSA process, David. I never thought of it like the label deals of bygone years!

George Falconer
Digital Media
Scottish Enterprise

[David Smith]

Well it is in as much as the headline sum, £250,000 is the prize but to win it we have to do a great deal of job creation over the next three years. Not so easy in "the greatest production downturn for generations" but certainly easier with the RSA support than without. All the best, David

Scottish Enterprise said:

Thanks for your positive summary of the RSA process, David. I never thought of it like the label deals of bygone years!

George Falconer
Digital Media
Scottish Enterprise

[Colette McBride]

Great to see it all come together, David, and best wishes to Matchlight in the coming years.

Colette McBride
Scottish Enterprise

[David Smith]

And thanks to you Colette for guiding us through the application process. Best wishes, David

Colette McBride said:

Great to see it all come together, David, and best wishes to Matchlight in the coming years.

Colette McBride
Scottish Enterprise

[Damien Smith]

Hi David

Sounds like a grand scheme.

I thought the postcode rule would exclude most spots in the city centre, west end... woodlands? Do you have to ensure the new jobs are created in a neglected area?

Damien

[David Smith]

The support available appears to vary on a postcode by postcode basis. SE have a quick calculator on their site - http://www.rsascotland.gov.uk/rsa/189.html.

I'm guessing Byres Road or Hyndland aren't going to cut it but Woodlands clearly does (though I'd never describe it as "neglected"). If we'd moved to PQ we might have attracted more but it wasn't going to be enough to offset the rents requested by the owners of The Hub.

David

Damien Smith said:

Hi David

Sounds like a grand scheme.

I thought the postcode rule would exclude most spots in the city centre, west end... woodlands? Do you have to ensure the new jobs are created in a neglected area?

Damien