The Ludlow-based Wild Edric Media company has used the money – from the Marches Small Equipment Grant (SEG) – to help it buy a £30,000 multi-camera professional-standard live streaming package.
Wild Edric Media director Carl Walker said the new equipment will help it target a new and growing sector of the market by broadcasting live performances straight to the internet.
The grant scheme, which is part funded by the European Regional Development Fund and supported by the Marches Local Enterprise Partnership and Marches Growth Hub, is part of a £3 million funding package which also includes the Marches Building Investment Grant.
Carl said the grant had come at just the right time for the company.
“We are a little unique amongst film production companies in that we do a lot of work with theatres and live events such as conferences, awards evenings and such like.
“We believe this current situation has changed our behaviour and focus towards more virtual events and this investment means we can now offer high-end live streaming services to clients who are looking to reach a wider online audience, create revenue opportunities through Pay Per View and reduce carbon impact through reduced travel to events such as conferences.”
Programme manager Caroline Cattle said she was delighted the company had been successful in its application.
“This is precisely the sort of company that the Small Equipment Grant was set up to help. It can provide grants of between £1,000 and £10,000 and makes all the difference to a company’s ability to expand and offer new services or products.”
Grants of between £1,000 and £10,000 are available under the programme, which is open to small and medium-sized companies across Herefordshire, Shropshire and Telford and Wrekin.
The grant is available as a contribution of up to 50 per cent and primarily covers B2B companies. Items purchased must exceed £500 in value and have a life expectancy of three years. Eligible projects must lead to the creation of at least one part time job within six months or the creation of a new product or service to be used by other businesses.
Because of restrictions imposed by the ERDF, the scheme is not available to retail businesses, restaurants, drinking establishments and fast food takeaways, online retail or rental businesses, farms involved in primary production, or local social welfare facilities.
Details of the scheme are available through the Marches Growth Hub.