Social enterprises bombard Dudley Council with funding requests
SOCIAL Enterprise entrepreneurs have submitted bids to Dudley Borough Council for funding worth more than £250,000.
The local authority has created a Community Enterprise and Innovation Fund which supports the growth of social enterprise in Dudley borough.
The first round of bidding resulted in 27 applications for funding, ranging from companies carrying out exercise and mobility services for older people to the creation of a community tool library.
Cllr Shaukat Ali, cabinet member for regeneration, said:”The council was delighted to receive 27 submissions in the first round of bidding and would like to thank applicants for taking the time to develop and submit their bids. The fantastic response clearly demonstrates a high level of interest from prospective entrepreneurs in setting up social enterprises in the borough.
“The limits of the fund have actually been exceeded by the total amount contained in the bids. Therefore, the ‘dragons den’ style assessment panel will now be looking to make awards to those that can best demonstrate innovative ideas. Ideas that are backed with strong business plans, which work toward the outcomes we aim to achieve for the borough.”
Funding applications will be considered by an assessment panel in January, with a view to winners being notified by the end of the month.
The council said details for a second tranche of funding would be announced around the same time.