The Growing Places Fund is used to support projects that are strategically important to London’s growth, where its impact can be recaptured, repaid after time, and reused to fund new projects in other parts of London. This revolving nature is a key feature of this Fund. Eligible bidders include private sector, business-led organisations or investment organisations, SMEs or local business groups, higher education and research institutions and public sector applicants with significant private sector involvement.
Please visit the The London Enterprise Panel (LEP) website to download the prospectus here.
All bids should be submitted by 5pm on 21 October 2015.
As outlined in the prospectus, the key considerations for this round are as follows:
- The LEP is seeking proposals that will support innovative ways of supporting the delivery of jobs and growth in London in line with the priority areas set out in their London 2036: An Agenda for Jobs and Growth report.* This business-led consultation project was undertaken to help drive jobs and growth in a UK city; its new economic development plan for London identifies ten actions** that could best deliver jobs, and long-term economic growth and resilience. Applicants are required to clearly demonstrate in their application how they meet one or more of the priority areas outlined in Chapter 8 of the ‘London 2036: An Agenda for Jobs and Growth’ report.
- Growing Places Fund capital awarded through Round 3 must be repayable.
- Priority will be given to projects that are private sector led or that have significant private sector involvement.
- Priority will be given to bids which provide at least 25% match funding.
- In order to support a range of projects in line with London’s 2036 goals, individual bids should be up to £3 million.
- All projects must meet the objective of Skills and Employment for the Growing Places Fund. Where projects deliver direct and measurable long-term economic growth and / or private sector employment.
- It is not intended that this Round 3 is meant for transport infrastructure projects. £37 million has already been ring-fenced for transport projects, and Round 1 proposals together with Round 2 proposals exceeded this amount.
All projects interested in putting a bid forward for the Growing Places Fund Round 3 should call the GLA for a pre-application discussion.
If you have any questions please do not hesitate to get in touch with Sarah Hayward at email@example.com.