Public Sector: LDA competition offers cash for creative pitches

Small agencies and start-ups are being given the opportunity to cash in on a regional government scheme, designed to help boost the creative sector in the capital.

The London Development Agency (LDA) is funding an investment competition, run by event company B2B London, where agencies can bid for up to £750,000 to develop their business.

'PR and other creative industries are the future of the capital, particularly with the decline of manufacturing,' said Debbie Staveley, PR and comms manager at B2B London's retained agency Envelope PR.

More than 60 per cent of the UK's creative firms are based in London.

And the industry provides more jobs than the financial sector, according to the LDA.

The competition is backed by investor London Business Angels (LBA), a subsidiary of Greater London Enterprise Limited.

At the Islington event, on 24 and 25 May, at least five agencies will be picked to deliver their pitches to an audience of more than 80 potential investors from LBA.

'It normally costs hundreds of pounds to prepare to pitch to LBA - who are people who don't want to invest in stocks and shares. On this occasion, the LDA is covering the cost,' said a spokeswoman.

The creative industries sector - which includes PR, marketing, advertising and publishing - accounts for one sixth of the London economy. The capital's creative companies contribute more than £21bn per year, employing more than 1.3 million people.

Envelope PR is promoting the competition - which does not have a ceiling for the number of agencies that will be chosen to pitch - through media relations.

The winning agency will be offered lunch with Dragons' Den star Simon Woodroffe.

For more information go to WWW.PRWEEK.COM.

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