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 €950,000 for up to 3 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?
*Applicants need to secure philanthropic funding commitments totalling at least €200,000 (€100,000 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 16th February 2024 at 1pm.
Please join us for our application clinics to find out more and answer any questions that you have. Applications received after 16th February will not be considered.
For any questions you may have, please contact email@example.com
Eligibility & Criteria
Projects must meet both Rethink Ireland’s criteria and the specific criteria for the Social Innovation Regeneration Fund, as set out below:
Rethink Ireland Criteria
Social Innovation Regeneration Fund Core Criteria
Which projects cannot apply?
Projects that are not eligible to apply are:
Which applicants cannot apply?
Applicants that are not eligible to apply are:
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 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.
There will be up to 3 awards available in total, and each Awardee will receive a cash grant, a business supports package, a place on our capacity building programme and access to Rethink Ireland’s networks.
What can cash grants be spent on?
The cash grant must be spent on the project that won the award and must be ring-fenced for work you are undertaking. The specific use of the cash grant will be agreed between Rethink Ireland and the Awardee.
The funding may be used to cover operations/staff costs but you must be able to demonstrate in your application how this is facilitating you to run the project that you are applying for. Cash grants may not be used to pay off debts or for capital items such as renovations, or for vehicles, land, buildings or large equipment.
What non-financial supports will be provided to successful applicants?
Rethink Ireland’s non-financial supports have been called our ‘secret sauce’ that help projects to really develop their capacity and sustainability, in addition to the benefit of the cash supports. Non-financial supports will include:
What is expected of Awardees?
The project lead will be expected to take part in the Rethink Ireland Programme, which includes attending workshops and spending time working 1:1 with a business/strategy consultant.
You will be required to provide a ‘Donor Letter of Commitment’ when submitting your application. Please download this letter for editing.
The minimum amount of philanthropic funding eligible for uplift funding is €200,000 (€100,000 per annum).
Note that 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.
If you are successful, you will be asked to provide further evidence to verify the private funding you have secured.
How the funding process works:
*The philanthropic funding can be received and transferred in instalments but uplift funding will only be available once philanthropic funding has been received and transferred. All funding should be received by the awardee and transferred to Rethink Ireland in 2024 or in 2024 and 2025. All funding should be received and transferred by 30th June 2025 latest.
For example: If an applicant raises €200,000 in private funds over 2 years, Rethink Ireland will provide an uplift of €100,000 in total. The total Rethink Ireland cash grant will be calculated as €300,000 (private funds plus uplift).
Complete the application via the online portal from 24th October 2023 to 16th February 2024 at 1pm.
What is involved in completing the application form?
The application form asks you for information about:
Section 5 of the application form also asks you to send us additional documents and a short video (see details below – the video is optional).
What kind of video do we need to submit? Optional
Don’t worry – you don’t need to produce a high quality or expensive video. You can use a smartphone or tablet. We just want to hear you telling your story in 2 – 3 mins max. Please tell us:
You can then upload your video to YouTube or Vimeo and password protect it if you wish. You can insert the URL link and the password in the application form.
What additional information do we need to submit with our application?
How do we upload our project budget (planned income and expenditure)?
In the relevant section of the application form you will be provided with a link to a budget template in excel. Please click on the link provided and DOWNLOAD this document to your computer. Then fill in your financial information and save the document with your project’s name and then upload it in the relevant section of the application form.
We have tried to make the application process as accessible as possible but we understand that there may still be some difficulties for applicants. If you have access needs or are struggling with the application form, please contact firstname.lastname@example.org
How does the selection process work?
The selection process is very rigorous and consists of a number of stages:
Who will decide who wins the awards?
All applications will be reviewed thoroughly through a rigorous process. The Board of Rethink Ireland will make the final decision on successful applicants and the number and value of the final awards given.
How do applicants find out where they are in the selection process?
We will contact all applicants by email to let them know whether or not they have been shortlisted and invited to interview. Interviews will be conducted via online video link. When final decisions have been made on the successful applicants, we will contact all shortlisted applicants by phone or email to let them know whether they have been successful.
What happens after the selection process?
By applying for Social Innovation Regeneration Fund, you agree to the following terms and conditions.