The UK's Channel 4 is ceasing 4iP, its £20m digital innovation fund. The division was responsible for digital innovations like AudioBoo and Privates. Any projects currently in development will finish and the remaining 40 percent of the fund will be redistributed.

We remembered that Channel 4 was funding Introversion's Chronometer, but studio co-founder Mark Morris tells us it "never got taken forward beyond the concept stage." Morris elaborated, "Sad news about C4 though, they were doing some good in the business."

[Update 10/8 3pm ET: Channel 4's Alice Taylor – you may recognize her blog, Wonderland! – took to the comments to clarify how this affects some projects: "Naw. Mixup. 4iP is going, but it wasn't responsible for Privates. 4iP's closure doesn't affect The Curfew, or Privates DLC, or 1066, or Smokescreen, or Cover Girl, or Trafalgar Origins, or 303 Squadron, or Ada, or Bow Street Runner, or the 8 or so new game commissions we've got on the slate for 2011. 4iP's games: Papa Sangre and friends, they'll still turn up too. Hope that helps!

It sure does. Thanks, Alice!]

This article was originally published on Joystiq.

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