(PRWEB UK) 8 June 2011
The Technology Strategy Board (http://www.innovateuk.org) is to provide funding totalling £182,000 to four short-term collaborative projects that will research and develop new metadata production tools.
This is the first funding to be awarded through a £5 million, three-strand, competition funded and managed by the Technology Strategy Board which aims to encourage the creation of tools that make the production of content such as film, music and computer games more cost-effective, less risky and yield greater value through new advanced uses of metadata.
Four consortia have been awarded funding, led by Festival Productions Ltd, the Royal Institute of British Architects, Support Partners and wireWAX Ltd.
The second strand of the competition, also for fast-track projects, opens on 13 June 2011 and closes on 21 July 2011. Applications must be led by a creative industry SME, should have a total value of less than £100,000 and should be completed within 12 months. This second strand will accept project proposals that fall within the scope for this competition or its predecessor ‘Metadata: increasing the value of digital content’. Up to £50,000 funding will be available for each project, and the Technology Strategy Board will invest up to £800,000 in total in these fast-track projects.