New Venture Fund launched

The New Venture Fund Pilot was launched in July 2021. It aims to advance self-sufficiency and resilience to a changing society and environment, and to encourage enterprise within the Carron Valley and District Region. The fund is currently in an 18 month Pilot to establish its value to the community.

The New Venture Fund is designed to:

  • Increase resilience for individuals, households, and the community by reducing reliance on goods and services from out with the region.
  • Support entrepreneurship in the region by providing small scale seed funding together with advice on financial and business skills and confidence, specifically dealing with funders, providing repayments and developing simple business plans.

The fund will usually build on a successful VRG’s Household Small Grant application which will have supported resilience and self-sufficiency.

 It can provide up to £1,000[1] as a 50% grant and a 50% repayable interest free loan, to new entrepreneurial ventures operated by residents of the Carron Valley & District Region which have a focus on sustainability: enhancing economic resilience, increasing wellbeing and reducing environmental impact.

Match funding, which can include in-kind support, is required from applicants and technical support and guidance for the venture can be provided by VRG’s Project Development Officer.

[1] The proportion of the total funding received by applications will be split evenly between grant and repayable loan. i.e. if a successful applicant requires a total of £400 towards their new venture they would receive a £200 grant and a £200 repayable loan.

For more information please see New Venture Fund Guidance

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