The fund is providing grants for businesses and organisations working in Greater Manchester’s foundational economy – including the health and social care, early education and childcare, and the local high street (retail, hospitality, culture, leisure and tourism) sectors - to trial new ideas and become more resilient. Initial grants of up to £11,000 are available.
The Foundational Economy
The foundational economy supplies the essential goods and services we all rely on for our daily needs.
In Greater Manchester, it accounts for over 42 per cent of jobs and is made up of more than 60,000 businesses.
It has a big effect on the levels of innovation and business sustainability, employment practices, the quality of work available, and income levels across Greater Manchester.
However, businesses and organisations struggle to attract investment from the private sector, and conversations about innovation tend to focus on industries seen as high-growth.
Greater Manchester's groundbreaking Foundational Economy Innovation Fund has been established to address this issue.
The sectors
The Foundational Economy Innovation fund is in its second iteration, focusing on supporting projects in sub-set of the sectors that encompass the foundational economy as a whole:
- Health and social care
- Early education and childcare (0-5 years)
- The local high street (retail, hospitality, culture, leisure and tourism)
GMCA are 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.
Please note: 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. It is hoped 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.
Deadline for expressions of interest: 10th March 2025, 12pm
If you have any questions email: [email protected]