Applications open for Foundational Economy Innovation Fund grants

The GMCA’s Foundational Economy Innovation Fund is now open for applications for grants of up to £11,000 to support projects addressing major challenges facing the sector.

The foundational economy is an umbrella term that includes a range of sectors that supply essential goods and services. Despite their importance to everyday life, these sectors are typically associated with low-paying jobs and sensitivity to economic changes. The Foundational Economy Fund, established by Greater Manchester Combined Authority (GMCA), aims to create opportunities to build innovation capacity within Greater Manchester’s foundational economy business community.

In its latest funding round, the Fund is looking for up to 25 projects within or supporting its priority sectors of Health and Social Care, the Local High Street and Early Education and Childcare (0-5 years). Successful projects will receive a small grant of up to £11,000 to test out their idea over nine months. Sector-specific challenges that this funding round is seeking to address are:

Health and Social Care sector:

• Innovations that could support the role of technology and digital solutions in enabling
  care, including supporting people through the utilisation of technology
• Innovations that could keep people well in the community – reducing demand on
  primary, secondary and specialist care

Early Education and Childcare sector:

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

The Local High Street sector:

• Innovations that could increase recycling rates in food-based hospitality
• Innovations that could improve capacity for financial management
• Innovations that could support better utilisation of underused buildings or facilities

Following the Expressions of Interest phase, which closed in 24th March, GMCA has now launched the application phase for the Foundational Economy Innovation Fund.

The application is a simple, online form that asks for details about the applying business or organisation and project. Assessors will take into consideration how well the project addresses one or more challenges facing the Foundational Economy and how innovative it is in its approach. An online ‘Meet the Funder’ event on April 15th will allow prospective applicants to have their questions about the fund answered, while a full breakdown of how applications for the grants will be funded can be found in the ‘Guidance for Applicants’ pack.

The deadline for applications to be submitted in 13th May 2025, with all applicants to be notified of the results of the application in late June.