Grant Name: Hub Incubation Fund
Grant type: Hub strengthening
Deadline date (rolling) OR Status: (Open)
Grant duration: up to 1 year
Amount available (£50,000 per Hub)
Open to: Hubs
The Incubation Funds are designed with the primary intent to support the setup and running of the hubs at the national and / or regional contexts. The funds are similar to seed funding or capital for start-up businesses, offering a simple and effective funding solution to help new businesses get off the ground.
The fund mechanism also hopes to strengthen decision on the allocation of funds, which will be carried out through a peer-review mechanism, which is detailed later in this document. The funds will be held by a ‘host organisation’ in each hub who will be accountable to the hub, other hubs and to Start Network on how the money is used.
The funds can be used for a variety of purposes, as identified by the Hub. Hubs will be required to apply to access the funds, which will include a broad outline of how the funds are expected to be used. However, the intent is for the Hubs to have reasonable flexibility on how the funds are used based on where it is needed the most.