On 26 February 2015, it was announced that businesses looking to expand their presence in the early years market will be boosted by a new £500,000 Department for Education grant to help usher in the new culture through the childcare investment readiness fund.
Today (25 March 2015), it has been announced that the grant management of the fund will be delivered by Social Investment Business (SIB) who, over the last 3 years, have supported a range of charities and social enterprises to raise new social investment for the first time.
Applications for the investment readiness fund will be assessed by an ‘investment panel’ made up of experts who will decide which bids would make future social investment most attractive to social investors.
The childcare investment readiness fund is modelled on the Cabinet Office’s investment and contract readiness fund. It will support childcare providers with a proven track record to become more appealing to investors.
Successful bids for the investment readiness fund will receive up to £45,000 per partnership.
Childcare providers and social enterprises can now register their interest in the fund on the Social Investment Business website.