Aimed at small social economy organisations this fund will help organisation’s to realise their potential to become less dependent on grants and to earn income from the services they deliver.
Seedcorn Funding supports:
• business planning;
• service, product or organisational development;
• time-limited revenue costs to expand or improve services;
• external technical or specialist support; or
• small-scale capital equipment or investment.
There is no minimum investment from this fund but the maximum is £50,000.
Applications for more than £25,000 will demonstrate real potential to generate income from their services and usually contain other sources of funding.
We expect £4 million to be invested between now and March 2007. 80 social economy organisations have been awarded Seedcorn funding. details
How to apply
The Seedcorn fund closed for new applications on 31 August 2005. Any further funding phases will be advertised.
Objective 3 match funding
The Seedcorn Fund will be matched at source with the Scottish ESF Objective 3 Global Grant Fund so we can increase the total resources available to support the social economy in lowland Scotland. Potentially this will make a further £1.6m available in Seedcorn Funding for lowland Scotland. We are pursuing a similar match in the Highlands and Islands.
Futurebuilders Scotland Funds
Social Entrepreneurs Fund
Part of the Seedcorn fund the Social Entrepreneurs Fund will invest up to £5,000 in individuals to develop their ideas into new projects. Encouraging and supporting young entrepreneurs will be a key priority. Fifteen per cent of the Fund will be for young people between 16 and 25.
Source: Third Force eNews