The Cyfenter Fund is a new European funding initiative for social enterprises in the four local authorities in the North West of Wales. Grants of up to £75,000 are available for social enterprises that are providing new products or services to meet a tangible unmet need in local communities. The fund was recently launched at four events across North West Wales that highlighted the depth of existing successful social enterprises in the area such as the Harlech and Ardudwy Leisure Centre and The Scala Cinema in Prestatyn, alongside Tyddyn Môn and Crest Co-operiative who each provide employment for vulnerable people in their communities via recycling schemes.
Cyfenter aims to help new and developing social enterprises reach their potential as viable and sustainable businesses via two new funding streams. Over the next three years Cyfenter expect to assist in the creation of 26 social enterprises through either their grant fund or their competitive fund. Each of the funding streams can provide capital and revenue funding up to a maximum of £75,000 with expected non-EU match funding provided by the social enterprise of between 10% and 30%.
Applications can be accepted at any time with the first step to complete an expression of interest form. For further details visit www.cyfenter.com