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A NEW €1.6m fund to support social enterprises in Ireland has been established by Social Innovation Ireland (SIFI), in partnership with Kerry County Council and all 31 Local Authorities across Ireland.
Social enterprises are organisations whose mission is to have a positive effect on society. They generate revenue through their products or services and reinvest their profits back into their social mission.
The Fund is financed by the Department of Rural and Community Development, from the Dormant Accounts Fund and IPB Insurance.
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Called the Social Enterprise Development Fund, the fund will be delivered over the course of two years and up to eight successful applicants per year will each receive a grant of €50,000 to invest in growing their organisation.
In addition to the cash grant, the successful applicants will also receive a place on Social Innovation Fund Ireland’s six-month Accelerator programme.
Additional places will be reserved for the most promising social enterprises across all 31 Local Authorities in Ireland.
The programme is designed to help social enterprises develop their business skills and to provide them with ongoing peer support and advice so that they develop sustainable enterprises that have a powerful impact in their community.
The fund is now open for applications from social enterprises in County Kerry.
Moira Murrell, Chief Executive of Kerry County Council, said: “This new fund will complement the range of supports available from local authorities for social enterprises that have a sustainable business model. The Social Enterprise Development Fund presents a great opportunity for social enterprises in the county to achieve their goals and ultimately create a measurable social impact that can be scaled all over Ireland.”
The fund will be open for applications from January 24th to March 28th, 2018 and the winners will be informed in June 2018. Further details are available on www.socialinnovation.ie
