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The FSA is inviting applications for projects which help people make good financial choices.
The FSA will make available a minimum of £200,000 for funding projects running up until 31 March 2008. The majority of awards are likely to be between £10,000 and £40,000 but larger awards will be considered too.
Have you got bright ideas to help people with:
Our Innovation Fund could help make your ideas a reality!
People regularly make financial choices which have a huge impact on every aspect of their lives, yet many do not feel capable or comfortable making these decisions. Making them more capable is at the heart of the National Strategy for Financial Capability. The Innovation Fund is part of this strategy. It was set up to encourage voluntary and community organisations to think of interesting ways to help people become more financially capable. By funding projects based on these ideas, we hope to identify new means of delivering and raising the profile of financial capability, as well as the profile of the organisations taking part.
The FSA will make available a minimum of £200,000 for funding projects running up until 31 March 2008. The majority of awards are likely to be between £10,000 and £40,000 but larger awards will be considered too.
Awards will be made for those projects that best fit the criteria for the fund. The criteria include the ability of the project to be copied or expanded and to be made sustainable in the longer term, if funding was secured.
We welcome applications from across the UK and we intend to spread the awards across geographic areas and communities where possible.
We will ask those who run projects to monitor and evaluate and we will verify the evaluation. The lessons learned from them will be published and shared with other financial capability projects and partners to inform and encourage not just other financial capability projects and partners but the strategy as a whole.
This fund is one of the many approaches which the national strategy for financial capability is employing to enable people to take greater responsibility for their financial affairs and play a more active role in the financial services market regardless of income or status. The strategy, which is managed by a steering group chaired by John Tiner, Chief Executive of the FSA, comprises of seven priorities across Schools, Young Adults, the Workplace, Financial Health Check and Debt Test, Maternity/Paternity Resources, FSA Consumer Communications, and Money Advice.
To find out more about the strategy visit http://www.fsa.gov.uk/financial_capability/innovation/
The application form for the second round of the Innovation Fund will be available to download from their website at the beginning of September 2006.
If you are unable to access the internet, telephone 020 7066 0084 or write to Innovation Fund, Financial Capability, The Financial Services Authority, 25 The North Colonnade, London, E14 SHS
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