Nesta, the UK’'s innovation foundation, today announces the call for a new cohort of its Creative Business Mentor Network, spearheaded by many of the creative industry'’s most successful leaders.

The Creative Business Mentor Network is run by Nesta in partnership with PACT, IPA, UKIE, Hospital Club and Creative Skillset. The network is designed to help the UK's most exciting creative companies to realise their potential by matchmaking them with an industry mentor, experienced in building successful businesses. It also aims to help the creative sector understand how adopting mentoring can make a positive impact to its economic growth.

Creative businesses from the film, TV, advertising, digital media and gaming sectors are invited to apply online for a place. Companies applying must have been established for at least two years in the UK, with a minimum turnover of £200,000.

Creative businesses will receive:

• 10 x 2 hour mentor sessions
• Executive coaching designed to help companies get the most from their mentoring sessions
• A series of workshops and events designed for the network

Patrick McKenna, CEO, Ingenious Media and Champion of the network commented: "The UK has a world-leading cultural and creative industry and the volunteer mentors involved with this programme are very keen to play their part in ensuring the next generation of world-beaters is able to succeed. I am pleased to be involved with the CBMN and alongside my mentoring peers, we look forward to working with the future stars of our industry."

Established creative businesses in the film, TV, advertising, digital media and gaming sectors are invited to apply online for a place on the Nesta scheme. Up to 25 'mentee' businesses will be selected from across the UK to work with one of the CBMN mentors. The mentors and companies will be matched in June and mentoring will begin in July.

Prevoius participants in Nesta's Creative Business Mentor Network found a strong link between business mentoring and future business success, with 95% of businesses in a pilot scheme reporting increased confidence. A notable 85% had improved networks and contacts, and profitability was improved for 53% of companies*.

The closing date for applications is 14 May 2013 at 15:00. For enquiries about applications please contact [email protected]

-ENDS-

Notes to Editors

For media enquiries please contact Natalie Hodgson at Nesta on 020 7438 2614 or email [email protected]

• *Findings from Nesta's 2010 Pilot Project.
• Mentoring will involve ten, two hour sessions over the course of 6 - 12 months as well as networking and in-house support from Nesta.
• Applications must be made via Nesta's website with an optional two minute video describing who you are, what you do and why you are interested in getting from the mentoring.
• If successful, companies will be required to pay a fee of £200 to cover administrative costs.
• Applications must be from companies established for at least two years in the UK, with a turnover of a minimum of £200,000 in last financial year. They must be working within one or more of these sectors: Advertising, Digital Media, Film, Games or TV

About Nesta:

Nesta is the UK's innovation foundation. We help people and organisations bring great ideas to life. We do this by providing investments and grants and mobilising research, networks and skills. We are an independent charity and our work is enabled by an endowment from the National Lottery.

Nesta Operating Company is a registered charity in England and Wales with a company number 7706036 and charity number 1144091. Registered as a charity in Scotland number SC042833. Registered office: 1 Plough Place, London, EC4A 1DE