The Health & Wellbeing Challenge Fund (South West) is a unique partnership led by two South West organisations aiming to finance charities and social enterprises in the health and wellbeing sector, which find new ways to solve challenges on a local basis.
The South West has one of the highest concentrations of social enterprises and community based businesses in the country, with organisations in this sector being the most represented. However, all too often, funding is not available at the size and terms that make it feasible for social enterprises to grow.
The £5m Fund will help to address this by offering organisations a mixture of grants and loans up to £150,000, to help them turn their best ideas into effective solutions to big issues like dementia, diabetes, obesity, depression and enabling older people to live more independent and fulfilling lives.
This innovative concept is the result of more than a year’s collaboration between Resonance, a national social investment company headquartered in Cornwall; and the South West Academic Health Science Network. The money for the Fund comes from South West Academic Health Science Network and the Access Foundation (a partnership between the Big Lottery Fund and Big Society Capital).
The Fund is managed by Resonance.
The Fund is open to organisations working in Somerset, Devon, Cornwall and the Isles of Scilly with “big ideas” that could transform care with the right financial backing.