Foundational Economy Innovation Fund

The GMCA’s Foundational Economy Innovation Fund is now open for expressions of interest. The Fund is offering grants to businesses and organisations working in or with Greater Manchester’s “foundational economy” to trial new ideas. The foundational economy includes the health and social care, early education and childcare, and retail, hospitality and leisure sectors. Grants of up to £11,000 are available in the Fund’s first phase.

To find out more and submit an expression of interest, visit the GMCA website: https://www.greatermanchester-ca.gov.uk/what-we-do/economy/foundational-economy-innovation-fund/

We’re looking for innovative ideas from businesses and organisations across private, public or voluntary sectors operating in or supporting;

• Health and Social Care
• Early education and childcare (0-5 years)
• The Local High Street (retail, hospitality, culture, leisure and tourism)

We want these ideas to focus on one or more of the following challenges:

• Localising supply chains, low-carbon and net zero
• More effective products and services
• Supporting the workforce

We’re particularly keen to hear about potential projects focusing on specific challenges within these sectors.:

Early education and childcare (0-5 years)

• Increasing the supply of early education places in areas where a need has been identified
• contribute to developing the pipeline of level 3 qualified staff in the early years and childcare workforce

 Health and Social Care

• The role of technology and digital solutions in enabling care, including supporting people through the utilisation of technology
• Keeping people well in the community – reducing demand on primary, secondary and specialist care

 The Local High Street (Retail, Personal Services, Leisure, Culture, Hospitality and Tourism)

• Increasing recycling in food-based hospitality
• Improving capacity for financial management
• Utilising underused buildings or facilities – e.g. kitchen space 

Important: An expression of interest is not an application for grant funding but gives potential participants a chance to get feedback on their idea and where it is suitable for the fund.  We hope to launch the call for applications for the fund – where up to £11,000 will be available to test out ideas – by the end of March 2025.

If you have any questions – please contact [email protected]