Wexford man to head up new fund
A Wexford man is the new manager of the Social Enterprise Development Fund organised by Social Innovation Fund Ireland.
A new €1.6m fund to support social enterprises in Ireland has been established by Social Innovation Ireland (SIFI), in partnership with Wexford County Council and all 31 Local Authorities across Ireland. The Fund is financed by the Department of Rural and Community Development, from the Dormant Accounts Fund and IPB Insurance.
John is the founder of Men’s Shed and is the new manager of the fund.
Called the Social Enterprise Development Fund, the fund will be delivered over the course of two years and up to eight successful applicants per year will each receive a grant of €50,000 to invest in growing their organisation. In addition to the cash grant, the successful applicants will also receive a place on Social Innovation Fund Ireland’s sixmonth Accelerator programme.
Additional places will be reserved for the most promising social enterprises across all local authorities in Ireland. The programme is designed to help social enterprises develop business skills and to provide them with ongoing peer support and advice so that they develop sustainable enterprises that have a powerful impact in their community. The fund is now open for applications from social enterprises in County Wexford.
Social enterprises tend to be set in the heart of rural and urban communities. Typically, they provide local services, such as tourism services or social services, and so jobs are created in local communities, providing an important economic impact. In addition to job creation, social enterprises create significant social impact through service provision in sectors such as childcare, eldercare, home help, recycling, and oth- ers. They play a particularly important role in areas of market failure for social services such as in rural areas.
Tom Enright, Chief Executive of Wexford County Council, said: ‘This new fund will complement the range of supports available from local authorities for social enterprises that have a sustainable business model. The Social Enterprise Development Fund presents a great opportunity for social enterprises in the county to achieve their goals and ultimately create a measurable social impact that can be scaled all over Ireland.’
Applications are accepted until March 28.