Minister Humphreys Announces Pilot Dormant Accounts Funded Scaling-up Scheme for Social Enterprise 2022
· Innovative €1.5 million Scheme to increase the impact of social enterprises
Minister for Rural and Community Development, Heather Humphreys, TD, today (29th July 2022) announced a Pilot Dormant Accounts Funded €1.5 million Scaling-up Scheme for Social Enterprise designed to improve the impact and sustainability of social enterprises that address economic, social and educational disadvantage.
The scheme, comprising of two streams, one for medium-scale capital works and the second for feasibility studies is being administered on behalf of the Department of Rural and Community Development by Pobal.
Stream 1 will provide funding for medium scale capital projects up to a maximum of €100,000.
Stream 2 will provide funding for feasibility studies to social enterprises. Grants of up to 80% of the total cost of the study will be provided, up to a maximum of €10,000.
Further details can be found here. Applications open at 10am on 2nd August 2022 and close at 3pm on 15th September 2022.
Making the announcement today, Minister Humphreys said:
“Our social enterprises play a vital role in communities across the country, as we saw during the recent Pandemic. The National Social Enterprise Policy commits to growing and strengthening social enterprise.
“This Scaling-up Scheme for Social Enterprise will provide some much needed capital support to social enterprises nationwide that will enable them to grow their operations, and strengthen their impact on the communities they serve.”
The Minister added:
“This innovative scheme will be delivered in two separate streams. The first will provide funding for medium-scale capital grants to improve the impact, quality, productivity and sustainability of social enterprise operations through the acquisition of equipment, technology, or site and building works.
“The second will provide grants for feasibility studies for social enterprises to research their potential to expand, or scale their goods/services offering, with a view to further increase the direct impact of their social enterprise on disadvantaged populations.
“It is envisaged that up to 30 social enterprises will benefit from this funding, which will undoubtedly have a huge impact on themselves, the communities they operate in, and on their customers and service users.”