Growth and Innovation Fund re-opening for business
Business Secretary Vince Cable and Skills Minister John Hayes re-opened the Growth and Innovation Fund (GIF) on 23 November. The GIF helps businesses develop skills solutions tailored to their needs.
BIS will provide £34 million for 2012-13. There is still £29 million available to bid for with the balance sustaining existing projects. With matched business funding there will be around £60 million available this year. Comparable levels are planned for the next two years. The GIF already supports 15 projects.
GIF welcomes applications from a wide range of employer-led organisations, including Sector Skills Councils, National Skills Academies and others. Local Enterprise Partnerships may also bid, to support businesses in particular geographical areas.
Following the first round improvements have been made:
• it will be open for business all year round ;
• the application process has been streamlined; and
• the UK Commission for Employment and Skills and the Skills Funding Agency will be available to work with applicants whose proposals merit GIF.
Last updated: 14 January 2013