Member Article

Leeds advisers aid £1.2m investment in Monster Project

Working in conjunction with the GrowthAccelerator service, a team of legal and financial advisers from Leeds has supported the set up of a new £1.2m animation business that is expected to create 20 new jobs in Leeds and Crowle, North Lincolnshire.

Antyx Ltd will unveil ‘The Learning Monster Project’, an interactive online learning experience for young children, later in 2013 and is also working on other initiatives including a cartoon series and a feature-length animated film.

The brainchild of accountant Anthony Hall, who is based in Eastoft near Goole, the Antyx venture plans to launch in July with the backing of private investors under the HMRC’s Enterprise Investment Scheme.

GrowthAccelerator business experts and Leeds law firm Clarion have worked with the start-up company to prepare it for launch. With access to finance support from GrowthAccelerator, Antyx has been advised on their corporate structure and business plan, particularly from a tax perspective.

In addition, IP lawyers from Clarion have completed an audit to ensure that the intellectual property rights of the new company are protected.

Antyx’s initial offering will be ‘The Learning Monster Project’, a virtual world for children, which aims to combine the fun and interactivity of a modern social gaming hub with educational benefits.

It is also developing a cartoon series called ‘Fantums’ which will be delivered direct to the customer’s computer, and an animated feature film called ‘Phobes’.

The company is forecast to generate a turnover of £1.9m in its first year, rising to £11.3m by Year 3.

Antyx director Anthony Hall expects the business to create 20 jobs initially, equally split between its offices in Leeds and North Lincolnshire as well as generating significant work for sub-contractors, which it plans to source locally.

This was posted in Bdaily's Members' News section by Mark Lane .