What is the Social Innovation Fund, and could your business benefit from it?
The Social Innovation Fund Ireland was established to encourage more entrepreneurs to start social enterprises.
Ireland’s first ‘non-profit accelerator’
The organisation, described as Ireland’s first ‘non-profit accelerator’, was set-up by the government to raise a minimum of €50 million to encourage the growth of Ireland’s social enterprises.
The fund aims to provide funding for non-profit projects tackling critical social problems.
“For every one euro donated by private giving, that figure will be matched by the government.”
Can my business apply?
The fund says it looks at a number of criteria when considering a proposal from a social enterprise.
It considers the issue that will be addressed? It asks how will it work? What is its feasibility? In particular, the fund is interested “in the role technology has to play in innovative solutions to Ireland’s social problems”.
The initiative is funded by a combination of private and state donations. What’s great about it is that for every one euro donated by private giving, that figure will be matched by the government.