The new LEP Prize Challenge Fund, supported by the Greater Cambridge Greater Peterborough Enterprise Partnership, is a unique opportunity in these constrained financial times to encourage innovative new ideas to help unemployed and socially disadvantaged people who live in the LEP area, to gain access to paid work with new skills and confidence.
Together through this Challenge we want to help 1,000 disadvantaged people to become job ready and 250 people into paid employment. By fostering this collaborative approach and encouraging innovation we believe we can pave the way for our area to remain at the forefront of economic growth.
The LEP has committed up to £1 million of funding to deliver this ground-breaking scheme because we understand the importance to our region of having an appropriately skilled workforce. The Prize Challenge Fund will provide a number of cash awards and prizes that voluntary and social enterprise organisations can use to generate positive outcomes.
In 2013, we invited voluntary organisations and social enterprises to come forward with their proposals to tackle worklessness and the skill shortages in our area, and collaborate with local business leaders. Seven projects received funding to launch their programmes, with three of these receiving a further £50,000 to support operations in the second year. You can find out more about the successful projects here.
Applications for Round 2 of the LEP Prize Challenge are now closed. 7 organisations have been chosen to receive funding and carry our projects to help local people get back into work. The successful projects are as follows:
- Luminus Ferry Project
- DIAL Peterborough
- Abbeycroft Leisure
- Gladstone Connect
- Ramsey Neighbourhood Trust
- Rosmini Centre, Wisbech
You can find out more about the individual projects here.
In January 2017, the LEP confirmed that they had provided second year funding to three of the Round Two projects to help them develop their projects and ideas further, they were:
“Innovative Voluntary organisations and Social Enterprises have a lot to offer. Working in partnership with local businesses, they are flexible and responsive enough to support those looking to build their skills, whatever their situation. The LEP Challenge will uncover the very best and help them make their great ideas happen.”
Matthew Hancock MP