The Social Enterprise Development Fund, a €1.6 million fund which will be delivered over two years; 2018 – 2020, is now open for applications. The fund was created by Social Innovation Fund Ireland (SIFI) in partnership with Local Authorities Ireland and funded by IPB Insurance and the Department of Rural and Community Development.
The Department of Rural and Community Development provides match funding for all funds raised by Social Innovation Fund Ireland, through the Dormant Accounts Fund. IPB Insurance is an Irish owned general insurance company which protects and supports their local authority members and their communities across the length and breadth of Ireland.
The objective of the fund is to find and back social enterprises that adds to the social and economic fabric of their community by way of social impact; creating a national pipeline of social enterprises. The fund will provide critical support to the most innovative and impactful projects proposed by social enterprises across Ireland helping them to:
● Increase their social impact
● Increase their traded income
● Create more jobs
● Develop long-term, effective and sustainable solutions across Ireland.
WHAT DOES THE FUND OFFER?
Up to eight social enterprises per year will receive a cash grant of €50,000. At least two grants will be awarded to support the most innovative and impactful projects proposed by social enterprises in each of the following categories:
Best Social Enterprises Project Urban x 2
Best Social Enterprises Project Town x 2
Best Social Enterprises Project Rural x 2
Six-month Accelerator Programme
Awardees will also obtain a place on the SIFI Accelerator Programme which is designed to help social enterprises improve their effectiveness. By joining the programme, organisations will gain access to a peer network of the best social enterprises in Ireland.
Additional places will be reserved for the most promising social enterprises across all 31 Local Authorities in Ireland.
WHO CAN APPLY?
The applicant must be a social enterprise with a not-for-profit legal form. Social enterprises are defined as organisations that:
Have a clear social mission and make a social impact
Generate income from goods or services
Reinvest any surplus into achieving their mission
Are separate from government or state agencies.
The Social Enterprise Development Fund will accept applications from:
Social enterprises, as defined above
Social enterprises which sit within larger not-for-profit organisations such as charities and voluntary organisations.
Click here for more information or to apply: socialinnovation.ie/social-enterprise-development
The deadline for applications is 28th March 2018.