Momentum Music Fund will award individual grants of £5,000-£15,000 to between 50-75 artists

The Arts Council England has launched a new £500,000 grant to help develop the careers of new bands and artists.

Managed by PRS for Music Foundation, and part funded by the National Lottery, the Momentum Music Fund will award individual grants of £5,000-£15,000 to between 50-75 new artists over the next two years.

The money will only go to bands and musicians who can “provide a clear business case for support” and are already established in their local scene. The idea is that the funding will help new artists record a debut album, buy new instruments or enable them to go on a large tour. Record labels, music managers, music publishers and other industry professionals can also apply on their artist’s behalf, providing they detail why they deserve the money.

Speaking at the launch at The Great Escape festival on Friday (May 17), Vanessa Reed, Executive Director of PRS for Music Foundation said: “Momentum is a breakthrough moment for music in England, where it’s now harder than in many other parts of the world for talented artists to access finance.”

She added: “It’s entirely fitting that today’s announcement is being made at The Great Escape where we’re surrounded by exactly the kind of artists and bands that this fund is designed for. I hope that many of them will enter the application process and use this opportunity to drive their career to the next level.”

For more information on how you can apply for funding, go to www.prsformusicfoundation.com