A quarterly electronic music magazine has secured £175,000 in funding thanks to an initiative by UK Trade and Investment, a Government body that introduces digital media companies to potential investors.
Norwich-based Electronic Sound, run by music journalists Mark Wernham and Christopher Dawes, hopes to use the money to make the magazine monthly and profitable.
The title currently has six issues, which cost £2.99 and are available via Itunes and on PDF. It is aimed at those involved in making music electronically and claims to have been downloaded at least once by 5,000 different readers.
Currently only Wernham and Dawes work on the title. With the £175,000 funding they are planning to employ a designer and invest more in freelances and marketing.
To secure the funding, the pair attended a UKTI Converge International Digital Forum event in Norwich in October last year.
After pitching their magazine, they were able to secure funding from the Low Carbon Innovation Fund operated by the Adapt Group at UEA and from a private investment firm.