Levelling up: the growth of the UK video game space

The first video game is thought to have been created in October 1958 by physicist William Higinbotham, a simple tennis game similar to that of the 1970s video game Pong. Since then, video games have grown in popularity, with the video game market projected to reach a revenue of US$282.3bn in 2024, according to Statista. In addition, the purpose of video games has expanded beyond entertainment into other areas such as education, mental health, and marketing.

The video games sector encompasses more than just the studios who create and publish their own games; it includes a range of businesses, from those who specialise in audio and graphics to bodies who host Esports competitions. In this article, we take a look at the UK’s video games sector as a whole, and then focus in on a selected seven companies that operate within the sector.

Fundraising activity of companies in the UK video games sector

Fundraising activity for the UK video games sector

Data source: Beauhurst

So far, 2022 saw the highest peak in the total amount raised through fundraisings, a 52% increase from 2021. Despite the lingering effects of the COVID-19 pandemic, with slow hardware sales and major titles experiencing delays in development, companies in the sector turned to fundraising to weather unexpected setbacks, obstacles, or delays.

The proceeding years of 2023 and 2024 see a near return to pre-pandemic levels in terms of the total amount being raised through fundraising, with deal volume continuing on a downward trend. There is potential in the upcoming years that we will continue to see a trend of less deals, but bigger cheque sizes.

Characteristics of video games companies

Stage of evolution for companies in the UK video games sector

Data source: Beauhurst

Companies operating in this industry are likely to be in the early start-up stages, with the next most likely option being either dead or zombied. Not many companies seem to be able to progress further into the growth and established stages.

Data source: Beauhurst

As displayed in both graphs, a wide range of other industries/sectors are linked to video games, either indirectly, such as because the company has several different focuses, or directly, by supplying the required technology, for example.

It is unsurprising that nearly a third of companies represented here have a connection to mobile apps, given their continuing rise in popularity. Mobile gaming evolved from simple, text-based games thanks to the introduction of smartphones that allowed for more complex and engaging mobile games to be made by providing a platform with powerful processors, high-resolution screens, and advanced touch interfaces. According to a report by Newzoo, mobile gaming will account for 49% of this year’s global revenue of the games sector at $92.6bn.

Company profiles

We will now place the spotlight on seven selected companies operating within the sector.

Hello Games

A man in a spacesuit standing on a rocky planet looking at a moon with rings in the distance.
Evolution: Growth

Industries: Video games

Founded in 2008 by a group of four friends, Sean Murray, Ryan Doyle, David Ream, and Grant Duncan, Guildford- and Cambridge-based Hello Games is the creator of multimillion selling Joe Danger and one of the biggest selling new IPs in video games with No Man’s Sky. The founder team had worked together as developers previously with teams including Criterion, Sumo Digital, and Kuju Entertainment. Their desire, born from witnessing games becoming more serious and missing the vibrancy that came from their childhood games, was to insert fun back into games while also developing deep gameplay and ensuring high quality.

In the present, Hello Games are trying to combine the stability and quality of AAA development with the freedom and creativity that come with being an independent studio to create new games that would otherwise not exist. We explore their portfolio of games below:

  • Joe Danger is the first game developed by Hello Games that has players controlling Joe Danger, a daredevil, in a side-scrolling video game where they have to navigate time-limited course and complete enough objectives in order to advance to the next level. Since its release in 2010, various versions and sequels have been released, including:
    • Released on Xbox Live Arcade, Joe Danger Special Edition has double the game play time with all new challenges, gameplay modes, and new playable characters to unlock.
    • Joe Danger 2: The Movie follows on from where the previous game left off with Joe Danger now in Hollywood, on the set of an action film.
    • Joe Danger Touch is made for mobile and tablets, featuring a whole new adventure and entirely unique mechanics.
    • Joe Danger PC brings Joe Danger and Joe Danger 2: The Movie to Steam through Steam Workshop support for level sharing, mouse and keyboard controls, Steam Big Picture support, and 1080p graphics.
    • Joe Danger Infinity features Joe’s new adventure in a micro world where King Gumball’s magic gumball machine has brought Joe’s toys to life and they’re racing across his kitchen worktops, dining table, and games room. Built exclusively for iOS, this game contains boss battles, a cake collection challenge, and different characters to collect and play with, with each level having its own leaderboard.
    • Joe Danger Vita, as the name suggests, brings Joe Danger and Joe Danger 2 to the PS Vita.
    • Similarly, Joe Danger for Android bring Joe Danger to Google Play, Amazon Appstore, and OUYA.
    • Joe Danger Infinity & Joe Danger Touch Remastered provides ProMotion support, better power performance with new optimized shaders, multitouch improvements and more, all with a graphical overhaul.
  • The Last Campfire is a puzzle game that has the player control a soul named Ember as they transverse lands beyond the dark forest, while solving environmental puzzles to aide fellow souls who have lost hope to find their purposes.
  • No Man’s Sky is about exploring and surviving in an infinite procedurally generated galaxy, with the game continuously evolving as major updates grow and expand the in-game universe with new ways to play. There are several important parts of this game that make it what it is:
    • Explore: Players will be the first to land on beautiful, unknown planets where they will have to survive hazardous environments that have alien civilisations seeking their fortune and outlaws who will take it by force.
    • Build: Players can team up to build a range of structures, from small outposts to complex multi-planet colonies. They are able to farm for resources, hire helpers, and build a mobile base within their freighter.
    • Multiplayer: By summoning the social hub, the Space Anomaly, up to 32 players can form a group and go on missions together or visit each other’s bases.
  • Announced at The Games Award 2023, Light No Fire, Hello Games’ upcoming game, is set on a fantasy planet the size of Earth where players go on adventures, build, survive, and explore together. This game will combine the depth of a role-playing game with the freedom of a survival sandbox.

Along with the long line of updates for No Man’s Sky and the announcement of Light No Fire, No Man Sky received a nomination for “Evolving Game” in the BAFTA Games Awards 2024 and took home the gong for “Still Playing” at the Golden Joystick Awards 2023.

Peek & Poke

A woman wearing headphones playing a video game on a computer screen.

Evolution: Venture

Grants: £50k grant awarded in 2023 by Innovate UK

Industries:  Marketing, branding and advertising, Video games

Buzzwords: MarTech

Tim Cooper founded Team Cooper in 2006, with them undergoing a rebrand in 2019 to Peek & Poke. They make branded games for a range of businesses of various sizes and sectors to help them engage their audiences, lift brands, tell stories, and share important messages. Tim Cooper had his first job at an e-learning company, which he stayed at for a couple of years. He moved on to be a PHP, but quickly went freelance, allowing him to focus on more creative Flash-based projects. This is how his first setup, Team Cooper, came to be.

Peek & Poke have two main missions:

  1. Create very fun, bite-sized experiences for intended players, such as customers, clients, employees, and partners. They ensure that all their games are built with great gameplay and with user experience at the forefront.
  2. Provide the best-value, results-focused games for their clients.

They have two main services on offer. Their ready-to-go offering allows customers to choose from a range of games, and to add their own logo to the game. The process is as follows:

  • Play & Choose: Clients can browse their range of games and decide on the one that best suits their brand, audience, season, or campaign. They then can choose a package to suit their campaign; by selecting the Premium package, they can have their game customised.
  • Build & Buy: Once the order has been placed, clients will be sent login details for their game’s content editor, where they can edit the in-game copy, add their company logos, and test the game as they go.
  • Launch & Share: Once the client is finished setting up their game, the game is launched to the public. This also marks the start of their license period. From here, clients can share it with their own customer base, either by linking it from their website, sharing it on their social media, or including it in a newsletter.
  • Engage & Review: Clients can track their customers’ engagement with their game in real time for the length of the campaign. Once the campaign has concluded, a performance report can be printed off and a CSV file with all of the leaderboard data can be downloaded.

Their tailored offering is where clients can commission them to create a highly engaging branded game experience, by following the steps below:

  • Brief & Consult: A project starts by the client either filling out the online briefing questionnaire or booking in a briefing call. Clients will then be guided through the customisation options on offer to help meet their campaign objectives and will be provided suggestions of games that are the best fit.
  • Quote & Contract: A detailed quote or proposal is put together for review following the discussion of the project. Once the client is happy with the quote/proposal and a budget and scope has been agreed, Peek & Poke’s team will write up a Project Initiation Document (PID), which describes the who, what, when, where, and why of the game project. The client will have to approve the document before work on the project can begin.
  • Design & Build: Peek & Poke’s experienced team of designers and developers now start work on the game, making the client’s ideas a reality. Through Basecamp, clients are updated on the progress of the project and able to provide feedback. They can ask questions and chat with the project team throughout this process.
  • Launch & Share: Similarly with the ready-to-go process, once production is finished and the client is happy with the final product, they press the launch button in order to make the game public. From here, clients can share it with their own customer base, either by linking it from their website, sharing it on their social media, or including it in a newsletter. In this case, Peek & Poke will remain on hand to support with any queries that may come up during the campaign.
  • Engage & Review: As with the ready-to-go process, clients can track their customers’ engagement with their game in real time for the length of the campaign. Once the campaign has concluded, a performance report can be printed off and a CSV file with all of the leaderboard data can be downloaded. However, with the tailored offering, a post-project follow up is arranged towards the end of the campaign to review how the game has performed and to discuss which aspects worked best.

During this year, Peek & Poke have announced several changes and revealed new things based off of the client feedback they have received.

Based on feedback regarding the license lengths for their ready-to-go games, which were either one or three months depending on the chosen package, they have decided to sperate out the game license periods from the packages. This means that specific games will now be available with one-week licenses for the quick and cost-effective campaigns and that the majority of games available will have a 12-month license for those who want to run their game at multiple events, continuously as part of lead nurturing, or for customer reward journeys. They also now have 12-month multi-game licenses available, on request, in either the Essential or Standard packages.

They have also announced a list of new standard package features:

  • An additional data collection field: Not only can clients now add one more data collection field, they have the choice to make it a drop-down field to help promote data consistency.
  • Add a thank-you message or a custom call-to-action.
  • Add an offer code: The post-submission panel, that can be used for the previous feature, can instead be used to reveal an offer code, allowing clients to easily run a fun promotion to encourage customers to return.
  • Webhooks for CRM and other integrations: Clients’ dev teams are able to connect their game directly to their marketing systems through the webhook calls. No-code automation tools, such as Zapier or Make, can also be used to connect the game to the majority of other services.

In addition, they are in the process of releasing five new versions of existing games and two entirely new ones.

Wales Interactive

The Welsh flag - a red dragon on a split white and green background.

Evolution: Growth

Grants: £522k grant awarded in 2022 by Innovate UK

Industries: Video games

Wales Interactive is a multi-award-winning indie video games, interactive movie developer, and publisher located in Penarth, founded in 2012 by a founding team of two. Included in said founding team is Dr David Banner MBE (CEO) who is a multi-award-winning video games artist, designer, producer, director, and entrepreneur. His career began in 1995 at Eidos interactive in London as a games artist and designer. He has worked for many of the leading games development companies over the years, having worked on over 50 titles for a large range of gaming platforms, such as PlayStation, Nintendo, and Xbox. He has a long list of achievements, being a three-time BAFTA Cymru winner, receiving the St David Award for Enterprise (which is the highest honour the Welsh Government can bestow on a Welsh citizen) for establishing the Games Industry in Wales and the subsequent positive impact on the Welsh economy, was recognised in the Queen’s Birthday Honours 2018 where he was appointed Member of the Order of the British Empire (MBE) for “services to the video games industry”, and, in 2020, was awarded the title of Honorary Doctor of Technology from De Montfort University to recognise his achievements made during his video games industry career. Richard Price (Director), multi-award-winning film and computer games director, is the other half of the founding team. More than a decade ago, he started his career within the entertainment arena, having a diverse range of roles in games and television.

Wales Interactive are an indie game developer who create and fund their own original ideas exclusively from their studio in Wales, which they self-publish on multiple platforms worldwide, including Sker Ritual, Maid of Sker, Master Reboot, and more. They specialise in all areas of development including art, design, writing, programming, music, and Quality Assurance, and are official developers for gaming platforms PlayStation, Nintendo, Xbox, PC, Mac, Linux, iOS, Android, and VR platforms. In addition to creating their own in-house titles, they are a publishing label that collaborates with some of the most talented game developers and film makers worldwide to assist them in bringing their original creations to gaming platforms with their offering of a complete range of publishing expertise, which encompasses PR, marketing, localisation, and sales. They are also established as one of the driving forces behind the revitalisation of the Full Motion Video (FMV) genre due to the success of their interactive movie portfolio.

Looking at a couple of their games in more detail, Maid of Sker, a first-person survival horror, is set in 1898 at a remote hotel that has a gory and macabre history from Welsh folklore. This game is inspired by the haunting Welsh tale of Elisabeth Williams, where a family empire is driven by torture, slavery, piracy, and a supernatural mystery encompasses the hotel grounds. Players are armed with only a defensive sound device and will have to use stealth tactics to avoid death by a cult of sound-based AI enemies. The main features of the game are:

  • The core survival mechanic being based on a 3D sound-based AI system.
  • Realistic visuals.
  • With a dynamic environment sound feature, enemies are alerted via a nudge system when the player bumps into objects.
  • A Welsh folklore inspire story that combines psychological, gothic, and British horror.
  • From the voice of Tia Kalmaru, famous Welsh hymns Calon Lân (A Pure Heart), Suo-Gân (Welsh Lullaby) and Ar Hyd Y Nos (All Through the Night) are re-imagined.

Sker Ritual, a spin-off based on Maid of Sker’s ‘evil’ ending, is an intense, round-based, zombie horror, first person shooter. Set in the year 1914, where Elisabeth Williams is now seeking domination with a broadcast of the Siren’s Song after conquering Sker Island. Players join her daughter’s Arianwen’s mission to stop the broadcast and save the world from descending into hell. Choosing between solo play or teaming up with up-to four players online, players will be faced with relentless waves of Quiet Ones as they try to solve mysterious missions, uncover Easter Eggs, upgrade steampunk weapons, and obtain Miracles, which are a large network of Celtic God powers.

Wales Interactive have had over 200 award nominations with nine BAFTA Cymru nominations and have won over 50 accolades. Included in this are The Queens Awards for Enterprise, three BAFTA Cymru Games Awards (2012, 2018 & 2019), GREAT Face of British Business (2015), Appster Award for Best Indie Game Developer (2014), South Wales Business of the Year (2014 & 2016), Wales Technology Award Winner (2017 & 2018), NatWest Great British Entrepreneur Awards Winners (2019), Tiga Game Award (2020), Wales Business Awards Winner (2022), Business Growth South Wales Awards Brand Impact Winner (2023), and Cardiff Life Awards Technology Winner (2023).

thymia

Concept image of three people assessing someone's mental health.

Evolution: Venture

Fundraisings:

  • £40k equity investment for a 2.4% stake in 2020.
  • £790k (€920k in original currency) equity investment for a 26.0% stake in 2021. Investors included Calm/Storm ventures, Entrepreneur First, Form Ventures, and Kodori AG.
  • £2.12m ($2.70m in original currency) equity investment for a 22.2% stake in 2023. Investors included Access EIS, Business Angel(s), Calm/Storm ventures, Crowdcube, Entrepreneur First, Form Ventures, and Kodori AG.

Grants:

  • £13.5k grant awarded in 2020 by Innovate UK.
  • £48.9K grant awarded in 2022 by Innovate UK.
  • £235k grant awarded in 2020 by Innovate UK.

Industries: Application software, Data provision and analysis, Mental well-being, Psychiatry, psychotherapy and counselling, Video games

Buzzwords: Artificial Intelligence, Gamification, Mobile apps, eHealth

London-based thymia, founded in 2020, is on a mission to make mental health as objectively measurable and monitorable as physical health is. Of the founders, Dr Emilia Molimpakis (CEO) is a neuroscientist and an expert in using language as a biomarker for cognition (of which, there are fewer than ten people worldwide doing this). She has a PhD and post-doc from UCL in Linguistics, Neuroscience & Psychology, won the Young Innovator’s Award 2020-21, and was named one of the top scientists for mental health worldwide. Dr Stefano Goria (CTO), with over 17 years of expertise in bringing cutting edge mathematical models to production, holds a PhD in Theoretical Physics and for over eight years was a quantitative analyst for large investment banks, including JP Morgan and Citibank. Gabrielle Powell (COO) worked in finance and consulting before moving into health and health-tech in 2015. She has held leadership roles at Dr. Consulta in Brazil, playing a pivotal role in expanding the company’s network of medical centres and digital offering, and was the Director of Operations and Growth at Doctify. Alongside her current role at thymia, she is a Global Advisor for Praava Health and an Angel Investor, who focuses on health-tech and med-tech start-ups.

By utilising the latest advances in machine learning and neuropsychology, thymia are supplying mental health assessments that are powered by AI to identify mental illness and, specifically, its underlying symptoms in an accurate and objective manner. This allows for providers, payors, and employers to understand and treat mental health issues effectively regardless of where and how they arise. They support clinicians in triaging, diagnosing, and treating mental illness with their in-depth insights into mental health conditions and symptoms. With their mental wellbeing assessments, employers and providers can effectively identify several conditions in the workplace, including mental strain, burnout, exhaustion, and stress.

Their AI models combine three types of data:

  • Behaviour: Every decision made by the player will count. From every tap, swipe, or keystroke along with reaction times and error rates, thymia are able to gain valuable insights about the player’s mental state.
  • Voice: An individual’s speech contains a symphony of emotions, thoughts, and identity that thymia is able to interpret by analysing the acoustics and content. Included in voice acoustics is loudness levels, pauses, and tone and pitch changes, all of which helps to reveal subtle emotional cues. Insights into the cognitive state are revealed through the words and structures used.
  • Video: All movements that can be captured on a device camera are tracked by thymia’s AI, such as facial micro-expressions, eye-gaze patterns, head angle, and upper body movements. Advanced video analytics are able to pick up movements that may be missed in a face-to-face interaction.

Thymia is the only company worldwide to combine behavioural, voice, and video data to develop digital mental health biomarkers. They have two distinct product suites; helios is their wellness range that provides insights into mental wellness indicators, like strain burnout, stress, distress, tiredness, and confidence, and apollo is their clinical range that provides insights into generalised anxiety, depressions, ADHD, and measure their core symptoms. Either of these suites can be embedded into any platform via their Activity Plugin, which embeds gamified activities into the client’s platform, or their Media API, which allows for existing recordings to be passed directly through thymia’s AI models.

In the middle of last year, they closed a £2m seed round so that they could further develop their product offering. Kodori Ventures led this investment round, with participation from Entrepreneur First, Syndicate Room, Calm/Storm Ventures, and Form Ventures. Around the same time, they announced their plans of expanding into mental health clinics and mental wellbeing providers in the UK, Spain, Brazil, Indonesia, Greece, Nigeria, and the US.

Avantis Education

A young student wearing a school uniform using a VR headset.

Evolution: Established

Fundraising: £4.25m equity investment by Key Capital Partners in 2020.

Industries:  Application software, Courses and educational material, Electronics hardware, Schools, Video games

Buzzwords: Augmented reality, EdTech, Virtual reality

Avantis Education, located in Gloucester and founded by Nik Tuson in 2007, is on a mission to inspire the way people learn by providing innovative educational solutions. By using technology innovation and immersive experiences, they aim to inspire imagination, foster curiosity, and enhance engagement. They have on offer a comprehensive range of award-winning innovative products made exclusively for education, which work with teachers and students in harmony to simplify classroom technology. They have reached over 90 countries, 200,000 classrooms, and two million students.

They have three main products:

  • ClassVR: A standalone VR headset that has a unique student-friendly interface, educational VR & AR embedded, including curriculum-aligned content and resources, and teacher controls that are simple-to-use. It has been designed to help increase engagement and knowledge retentions, no matter the student’s age, while also ensuring that the interface and teacher portal are easy to use.
  • Eduverse: An engaging online environment that allows students and teachers to explore experiences together, safely, and inclusively. With hundreds of resources, student can meet, collaborate, and learn in engaging virtual spaces from any web-enabled device. Eduverse encompasses:
    • Expeditions 360: A collection containing over 700 high-quality 360o photos, videos, and 3D models, along with teaching notes and student information, on topics ranging from animals to arts and from world culture to well-being.
    • Avantis World: Involves four educational ‘lands’ that each contain hundreds of educational scenes alongside teaching notes, and, for the students, instructions, quizzes, and assignments.
    • Eduversity: Provides students with access to a virtual school building that has all of the associated rooms and spaces that they can explore and discover, including science, modern foreign languages, music, drama, sports, and SEND (Special Educational Needs and Disabilities).
    • World events: This is a collection containing Eduverse’s explorable scenes which feature cultural, religious, and sporting events and locations.
  • LearnPad: These tablets have been specifically designed for the classroom, with simplicity in mind. Through the intuitive and easy-to-use product available on the LearnPad, teachers are able to spend more time teaching as time is freed up from having to manage technology. Each comes with a range of free Tools and Apps that facilitate creative teaching and learning, including Annotate, Notes, Author Book Creator, Animator, eBook Reader, Presenter, and LearnPad’s Office Suite.

During this year, they have won, for the third year in a row, a Tech & Learning Best of Show award at ISTELive24 for their updated ClassVR portal and their expanded library of 360o images, which have all been designed to enhance the user experience. At the XR Awards, they were awarded with ‘Best Education Solution’ in recognition of ClassVR’s innovation and development.

In March of this year, Avantis Education partners with St. Vrain Valley Schools, a 33,000-student school district based in Colorado. They will be providing Eduverse to all 60 schools in the district, which marks the first district-wide adoption of Eduverse, so that all of the teachers in these school can utilise Avantis’ immersive content without needing to have access to VR headsets.

Speech Graphics

3D illustration of sound waves coming out of a human mouth.

Evolution: Growth

Fundraisings:

  • £1.41m verified equity investment in 2018 for an 18.8%. Disclosed investors include Archangels, Par Equity, and Scottish Co-Investment Fund.
  • £560k equity investment in 2019 for a 5.9% stake. Investors include Archangels, Par Equity, and Scottish Co-Investment Fund.
  • £1.7m equity investment in 2020 for a 14.5% stake. Investors include Archangels, Par Equity as well as management participation.
  • £240k equity and loan investment by Early Stage Growth Challenge Fund in 2020 for a 1.2% stake.
  • £5.27m equity investment in 2022 for a 22.1% stake. Disclosed investors include Archangels, Par Equity, Sands Capital, and Scottish Co-Investment Fund.

Grants:

  • £68.0k grant awarded in 2011 by SMART Scotland: Research and Development Projects.
  • £100k grant awarded in 2013 by SMART Scotland: Research and Development Projects.
  • £75k grant awarded in 2022 by Innovate UK.
  • Awarded a grant of an undisclosed amount in 2023 by Epic MegaGrant (Epic Games).

Industries:  Application software, Graphic design, Video games

Spinning out of the University of Edinburgh’s School of Informatics in 2010, Speech Graphics, who remained in Edinburgh, are delivering pioneering facial animation technology to the entertainment industry, with their client base including the likes of Warner Brothers and Def Jam Recordings.

Co-founder and CEO, Gregor Hofer, holds a PhD in Informatics from the University of Edinburgh and was a research fellow at the University’s School of Informatics. He successfully commercialised a text-to-speech protype at his previous role as a senior researcher at the Telecommunications Research Centre in Vienna, which is now powering several government webpages. Alongside his full-time role at Speech Graphics, he is a Supervisory Board member at System Industrie Electronic Holding AG. Michael Berger, co-founder and CTO, has been a pioneering expert in the field of speech animation since 1995. Along with being a linguist, speech scientist, and software engineer, he helped to develop the first automated talking head, co-authored a book on the subject, and went on to develop state-of-the-art techniques in realistic synthesis of facial dynamics from audio. He has also founded a speech animation research business in the US.

Speech Graphics specialise in automatic, accurate lip sync, considered one of the holy grails of computer facial animation. They have three main offerings:

  • The SGX suite: High quality automated facial animation from audio that is delivered on first pass and provides clients with the control to direct the resulting performance to their precise vision.
  • SG Com: Provides real-time audio-driven facial animation for player-to-player avatar chat and a host of other applications.
  • The Rapport Platform: Combine dialogue solutions easily with text-to-speech and speech recognition tools, creating and deploying interactive character experiences at scale.

In terms of recent awards, in 2023, their SGX software was awarded the TIGA Award for ‘Best Technology Innovation’ in the video game industry for the second year in a row. This year they were awarded with Dragon Award for Pioneering Spirit presented by the China-Scotland Business Awards, a new category introduced this year to recognise organisations pioneering partnerships between Scotland and China. Speech Graphics won this award for their work in successful deepening their connections between Scotland and China over the past year, with a notable achievement being their now established partnership with GrowthEase, who are a leading provider of enterprise technology solutions in China.

In August of last year, Speech Graphics and researchers at UC San Francisco (UCSF) and UC Berkeley announced the world’s first brain-computer interface able to electronically produce speech and facial expression from brain signals, allowing a pathway to restoring natural communication for those who cannot speak. This interface has been able to decode the brain signals of a woman named Ann, who was left paralysed after a stroke, into three forms of communication: text, synthetic voice, and facial animation. This was fed into a digital avatar, which was both lip-synced and had emotional expressions, essentially helping Ann to speak again.

Memory Lane Games

A mature woman sitting with her mother, who has dementia, and pet dog on a sofa. They are looking through a photo album together.

Evolution: Seed

Fundraising: £700k equity investment in 2021.

Grant: £80k awarded in 2023 by Longitude Prize Discovery Award.

Industries:  Application software, Care homes, Healthcare products, toiletries and living aids, Video games

Buzzwords: Artificial Intelligence, Gamification, Mobile apps

With their Head Office in the Isle of Man, Memory Lane Games is the engagement app designed for people living with Alzheimer’s and dementia. They were founded by a team of two in 2019 consisting of Bruce Elliot and Peter Quayle. Bruce Elliot (CEO) holds a twenty-year track record of building world-class, innovative eCommerce companies, and has driven a listed online payments start-up to 1 million users and $250m per year in revenues. In addition, he has been the lead on marketing, and product and business development for international online payments, gaming, venture capital, blockchain, and now digital health firms. Peter Quayle has spent more than 30 years in technology, with a specialism in applying computer science principles to IT projects and business opportunities. He is now the Project Manager at Games Global.

Memory Lane Games started by taking on the question ‘how can we make games that would help trigger happy memories and offer support to people affected by cognitive decline?” as a challenge. Their answer to this question came in the form of a set of app-based memory games on favourite topics and interests of the user. Their mission now is to improve the quality of life of those living with dementia, while also providing support for their carers and family members through accessible and localised digital health apps.

Their app, which promises to be frustration-free, contains games specifically designed to stimulate visual reasoning, memory, and the speech centres of the brain. The aim of playing the games is to trigger positive memories, conversations, and reminiscence and to invoke a calming, settling, and reassuring effect for the player of the games. Features and benefits of the app include:

  • A library containing thousands of games.
  • Able to successfully address wandering and sundowing, which refers to the increased confusion, agitation, and behavioural changes in individuals with dementia that often happen during late afternoon and early evening hours.
  • Stimulates the speech and language centres of the brain.
  • Reduces agitation and repetitive behaviours.
  • Incites engagement with their interests.
  • There are no time-limits or scoring within the games.
  • Offline play is available once games are downloaded.

In the middle of this year, they announced their launch of a volunteer programme by partnering with Alzheimer’s Society (UK). This programme will allow volunteers to be trained in using the Memory Lane Games app so that it can become a valuable resource to support person-centred dementia care. This volunteer program is one way in which those who want to assist and support the app can do so in a structured way. It also opens a practical way to support the delivery of healthcare and workers in the under-resourced, sometimes undervalued area of care.

End of last year, Santé Group, a leading provider of Employee Benefits, Employer Wellness, and Employee Benefit Solutions in the UK, partnered with Memory Lane Games to launch their app on Santé Group’s employee benefits platform, MySanté. Alongside the app, employees will have access to a range of support articles and video-based tutorials with the aim to help them deal with the combined pressures of working and caring.

Memory Lane Games became one of only five UK companies, out of 60 applicants, in June of last year to win a place on the UK Canada AgeTech Innovation Exchange for businesses with products that have the potential to improve the health and well-being of older people. As a selected company, they will work with leading experts on aging, such as national healthcare providers, as well as with Canadian programme partners AGE-WELL and the Centre for Aging + Brain Health Innovation (CABHI).

NVIDIA: The blurring of video games and AI

NVIDIA began in 1993 as a graphics processing company with a vision of bringing 3D graphics to the gaming and multimedia markets. Their initial goal was to design a chip (or more specifically, a graphics processing unit (GPU), which is a specialized electronic circuit) able to facilitate realistic 3D graphics on personal computers. NVIDIA would change course in later years, when their focus became designing and building chips for accelerated computing, as they are able to quickly process vast amounts of data for generative Artificial Intelligence (AI), which is AI able to produce new content and ideas as well as use its pre-existing knowledge to solve problems.

In the present, NVIDIA’s hardware and software, often referred to as “the AI factories of the future”, is used by any company that is linked to AI development. They also played a major part in the creation of ChatGPT, OpenAI’s chatbot, which is one of the most well-known generative AI engines.

For data centres, GPUs are deployed to augment CPU (Central Processing Unit) capabilities by bringing in additional computing horsepower, assisting in meeting rising requirements for heightened computational demands. Without the use of a high-performance GPU, the majority of technologies and applications used today can encounter excessively long loading times, performances issues, or could cease to function entirely.

Despite CPUs and GPUs both being silicon-based microprocessors able to handle data, they excel in different tasks. CPUs are most suitable for workloads and applications where the critical concerns are latency or per-core performance. They are able to focus a smaller number of cores on completing individual tasks quickly, making them most suited for jobs like handling databases and executing serial computing tasks.

GPUs started as specialised Application-Specific Integrated Circuits (ASICs), with the main goal of accelerating specific 3D rendering tasks. As time progressed, these fixed-function engines became more programmable as well as flexible. GPUs evolved from their common use of gaming to be more general-purpose parallel processors in data centres, able to handle the increasing range of applications and support demanding use cases. In comparison to CPUs’ smaller offering of cores, GPUs offer thousands, which makes them more suited to support parallel operations. Due to these reasons, GPUs are now widely adopted for use in both on-premises and cloud data centre environments.

Oftentimes, GPUs are virtualised to allow for more flexibility and efficiency. NVIDIA released its virtual GPU (vGPU) in 2013, allowing a data centre GPU to be shared across multiple virtual machines, improving performance for applications and desktops. It also facilitated organisations in building their own virtual desktop infrastructures (VDIs).

NVIDIA is an example of how technologies originally geared towards the video games market can have applications outside of its original purpose. However, as their focus has pivoted away from the video games market, NVIDIA, and companies like them, are not included in this report.

What services we offer video games companies

An accountant for gamers must have in-depth knowledge to understand how best to advise clients. Here at Price Bailey, we understand gamers and streamers needs, offering advice on:

  • Tax planning and preparation
  • Bookkeeping
  • Financial management
  • Virtual currency management
  • Budgeting and financial planning
  • Self assessment tax returns

We always recommend that you seek advice from a suitably qualified adviser before taking any action. The information in this article only serves as a guide and no responsibility for loss occasioned by any person acting or refraining from action as a result of this material can be accepted by the authors or the firm.

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