SEPT. 10, 2007 • In a move to boost the development of games within its borders, the European Union has created a €1.5million ($2.1 million) fund to support local developers. Creative teams can apply for €100,000 ($141,195) to support early PC, handheld and console prototypes. Projects already under way have between €10,000 ($14,116) and €60,000 ($84,705) available. The funds are grants, and do not have to be repaid.

Impact: Most of Western Europe is a tough place to do business, especially for small companies.  Development hot spots are popping up in places like Canada, Australia, East Asia and Eastern Europe.  In many countries, governments are helping spur investment in the game industry by providing access to capital.  Now small European developers may be able to compete on more equal footing.