The Social Innovation Regeneration Fund

Closing Date – 26/04/2024

UPDATE: As of 1st February 2024, Rethink Ireland has confirmed two changes to the Social Innovation Regeneration Fund as follows:

  1. The introduction of a Strand 2 for smaller grants: Rethink Ireland has increased the overall Fund budget and introduced a Strand 2 for smaller grants. Applicants need to secure philanthropic funding commitments to make an application to the Fund, and the minimum philanthropic funding to be secured for the new Strand 2 is at least €100,000 over two years (compared to at least €200,000 for Strand 1).
  2. The extension of the deadline for applications to the Fund: The original deadline for the applications to the Fund was 16th February, 2024. This deadline has now been extended until 26th April, 2024 to allow new eligible applicants sufficient time to prepare their applications. Note that applicants can submit their applications at any time before the deadline of 26th April.

The text below has been updated accordingly. We’ve also included responses to some questions that have been raised by prospective applicants.

What is the Social Innovation Regeneration Fund?

The Social Innovation Regeneration Fund aims to build the capacity of social innovations with proven impact and a desire to scale. This Fund has been set up to support previous Rethink Ireland awardees who have encountered a temporary core funding gap and are seeking support to revisit their business model and improve their financial sustainability.

Over the past three years, social innovations have grappled with challenges like the Covid-19 pandemic, enforced closures, the Ukraine war, and the cost-of-living crisis. These changes in the external environment mean that some social innovations are experiencing a core funding gap i.e. a gap of financial resources that can be spent on their core functions, such as senior management salaries, communications, operations, governance, income generation, or other spending that is not project-specific.

This two-year Fund offers a package of cash grants and non-financial supports to a maximum value of €1,640,000 for at least 5 organisations, to help them address their recent core funding gap by reviewing their financial/business models. Ultimately this Fund aims to support successful applicants to improve their financial sustainability and increase their social impact.


What do successful applicants get? 

  • A minimum 50% uplift on funding secured*
  • A place on Rethink Ireland’s Accelerator Programme
  • A tailored non-financial supports package to support them to improve their financial sustainability including supports in the areas of financial/business modelling, market assessments and growth strategies
  • Access to Rethink Ireland’s networks

*There are two strands for applicants to this Fund:

For Strand 1, applicants need to secure philanthropic funding commitments totalling at least €200,000 (€100,000 per annum) to make an application.

For Strand 2, applicants need to secure philanthropic funding commitments totalling at least €100,000 (€50,000 per annum) to make an application.

The Rethink Ireland Board will decide how much money to award, which may be less than the amount requested. The final amount of the award will depend on how many organisations are selected.


What is the deadline for applications?

You can apply to the Social Innovation Regeneration Fund via the online portal from Tuesday 24th October 2023 to Friday 26th April 2024 at 1pm.

Please join us for our application clinics to find out more and answer any questions that you have. Applications received after 26th April will not be considered.

  • Thursday 15th February 2024 at 10 am: register
  • Thursday 29th February 2024 at 10 am: register

For any questions you may have, please contact regenerationfund@rethinkireland.ie 

WHO CAN APPLY?

Eligibility & Criteria

Applicants are required to meet all criteria listed below to be eligible to apply for a fund open call:

  • You are 18 years of age or older.
  • You have given full and truthful information, both verbal and written, at all stages of the application and selection process.
  • You are eligible to apply. This means that your organisation meets the criteria for Rethink Ireland and this Fund as described below.
  • You have the right to apply. This means that you hold the necessary rights to carry out the project.

Note: Eligible entities must be not-for-profit organisations at the point of award contracting, and may include companies limited by guarantee, trusts, cooperatives or other legal forms that satisfy the not-for-profit requirements. They may also be registered charities, but this is not a requirement. The following are ineligible for Rethink Ireland support: individuals/families, sole traders, for-profit companies (such as companies limited by shares that are not registered charities).

Rethink Ireland Criteria 

  • The project must address a critical social issue
  • The project proposed must be innovative in an Irish context
  • The project must have potential and a desire to scale or replicate in Ireland (it may also have potential internationally, but this is not a requirement)
  • The project must provide evidence that it is up and running, or has been tested at least in a minimal way
  • The project must be based in Ireland and make its main impact in the Republic of Ireland
  • Applicants must come from an entity that has a not-for-profit legal form, e.g.
    • A company limited by guarantee
    • A co-operative
    • Trust
    • Charity

Social Innovation Regeneration Fund Core Criteria 

STRAND 1:
Applicants must

  • Be a previous recipient of Rethink Ireland funding and have graduated from a Rethink Ireland programme
  • Have been operating for at least 3-5 years with a developed strategic plan, funding base and evidence of impact
  • Have a proven track record of impact and have clear ambition to increase their impact
  • Be experiencing a temporary core funding challenge and have a clear need to revisit their business model
  • Have the motivation and capacity to revisit their strategy and business model as part of this Fund
  • Be able to secure philanthropic funding commitments totalling at least €200,000 (€100,000 per annum)

STRAND 2:
Applicants must:

  • Be a previous recipient of Rethink Ireland funding and have graduated from a Rethink Ireland programme
  • Have been operating for at least 1-5 years with a developed strategic plan, funding base and evidence of impact
  • Have a proven track record of impact and have clear ambition to increase their impact
  • Be experiencing a temporary core funding challenge and have a clear need to revisit their business model*
  • Have the motivation and capacity to revisit their strategy and business model as part of this Fund
  • Be able to secure philanthropic funding commitments totalling at least €100,000 (€50,000 per annum)

*A core funding gap is a gap of financial resources that can be spent on an organisation’s core functions, such as senior management salaries, communications, operations, governance, income generation, or other spending that is not project-specific.

STRANDS 1 AND 2:
Advantageous criteria

  • Organisations engaging meaningfully with minority/disadvantaged groups including but not limited to those led by women, ex-prisoners, recovering addicts, Travellers, and migrants.
  • Organisations that have a positive effect on Ireland’s Green Transition through their activities/interventions. This criteria applies if the organisation tackles issues related to the environment and green transition such as carbon reduction, biodiversity, sustainable agriculture, pollution and/or the just transition.

Which projects cannot apply?

Projects that are not eligible to apply are:

  • Projects where research is the primary activity
  • Projects seeking funding for capital assets (such as buildings, vans or equipment)
  • Projects promoting or aligned with a political party
  • Projects that only accept participants of a particular faith or religious denomination
  • Projects focused on animal welfare
  • Projects based outside the Republic of Ireland
  • Projects led by people under 18 years of age
  • Projects that are an idea (only) and that have not yet started

Which applicants cannot apply? 

Applicants that are not eligible to apply are:

  • Applicants under 18 years of age.
  • Commercial companies, sole traders and individuals.
  • Any staff member from Rethink Ireland and their family members. Family members include siblings, parents, spouses or civil partners or children.
  • Individuals, statutory or public bodies, local development companies, LEADER companies, companies limited by shares, and organisations that are funded 100% by state bodies or agencies (and continue to be in receipt of that funding), that are not registered charities.
  • Any consultant currently working with Rethink Ireland.
  • Applicants who are not previous awardees of Rethink Ireland.

If my organisation has previously been in receipt of an award from Rethink Ireland, can I still apply?

Yes. This fund is open to previous awardees of Rethink Ireland only. Previous awardees must be able to demonstrate they have performed well on a previous programme and capture in the application form how the new funding being applied for is a logical continuation from the original investment, fitting the new Fund criteria in particular.

If my organisation/project is currently in receipt of an award from Rethink Ireland, can I still apply?
Awardees on one of our Funds that have cash grant payments remaining after the commencement of the new fund programme in October 2024 are not eligible to apply.

Is this just for large-scale, national organisations?

No, it is not, and indeed we welcome applications from not-for-profit organisations that meet the criteria above.

Can I apply for this funding even though I am still on the ideation stage? 

Unfortunately no, this fund needs to see proof that the project is up and running or at least has been tested and shown results in some way.

Can organisations make multiple applications? 

Organisations should submit one application as this Fund aims to support organisations who are experiencing a temporary core funding gap.

If my organisation is funded by a Government/state agency (HSE, TULSA etc) are we eligible?
Yes, you can apply if you are in receipt of funding from a government or state agency and you meet the other eligibility criteria above. However, if your organisation is 100% funded through state sources, then you are not eligible to apply to the Fund.

Is it possible for organisations to collaborate in an application (e.g. a community development organisation and an educational provider)?

They can and one organisation should take the lead. Please refer to the eligibility criteria to ensure that your project is eligible for funding. Note that this Fund primarily aims to support individual organisations to review their business models and improve their financial sustainability.

Read more and apply HERE

Event Date:
Date:
April 26, 2024
Details:
Closing Date:
April 26, 2024

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