Call out to arts organisations to apply for the Investment and Contract Readiness Fund by 14 January 2014
The ICRF is a three year £10M programme managed by the Social Investment Business on behalf of the Cabinet Office, which exists to help social ventures build their capacity to receive investment.
Through the ICRF, organisations can secure grants of £50,000 – £150,000 to purchase specialised support and cover some of the costs of putting the investment readiness plan into action.
Organisations work with one of over 30 approved providers before making an application to the fund. If successful, support is provided over a 3 – 18 month period in areas such as financial modelling, legal support, governance and strategy planning.
ICRF is running a call out specifically to support arts ventures in January. Arts organisations or social ventures that work in the arts sector, that have a commercial model, and are committed to report on their artistic and social impacts are welcome to apply for an investment readiness grant. Applicants should be looking to raise investment of over £500,000 over the next 12 months.
The deadline for applications is 4pm on Tuesday 14 January 2014. A decision as to who will receive will be made shortly thereafter. There might be opportunities to apply after that date.
Investment readiness support provided by ICRF will enable more organisations to be ready to apply to for investment from the Arts Ventures Fund. The Arts Ventures Fund will open in 2014 and look to support the long term sustainability and resilience of arts organisations by providing tailored financial investment for organisations that deliver artistic and social impacts.