Future Workspace Fund
Please note: the Future Workspace Fund is currently closed for applications
The Future Workspace Fund is Lambeth Council’s new by application loan and grant fund for affordable and supportive workspace providers.
The Future Workspace Fund’s purpose is to grow innovation-led sectors in Lambeth and deliver outstanding economic return and social value for residents.
Through the Fund, we’ll make loan and grant investments to affordable and supportive workspace providers. We’ll work with these organisations and match funders to grow clusters and enhance affordable and supportive workspace in the borough.
The Future Workspace Fund builds on the council’s award-winning approach to creating workspace that helps new and existing businesses to thrive and grow – from Granby Space and Build Studios in Waterloo, to Tripod, Pop Brixton and the award-winning International House in the Brixton Creative Enterprise Zone. Together, these projects already provide 80,000 sq. ft. of space for over 260 businesses.
Click below to open the relevant documents:
PRIMARY GOAL AND OBJECTIVES
The fund has three key objectives:
- to stimulate high value cluster growth and inward investment in innovation-led sectors;
- to support Covid-19 recovery by helping existing businesses to survive, adapt and thrive in the new economy; and,
- to attract and generate new business growth and new employment, self-employment, employment pathways (with a focus on black, young and disabled residents) upskilling, reskilling, training and apprenticeship opportunities for residents
WHAT WILL BE FUNDED
The Future Workspace Fund will provide funding for capital expenditure to workspace providers that are developing new or enhancing existing affordable and supportive workspaces.
The types of workspaces that will be funded are anticipated to include:
- specialist incubators focused on an innovation-led sectors such as med tech, life sciences, green tech and services, creative and digital;
- cultural workspaces such as creative studios;
- affordable workspaces for charities and social enterprises supporting priority groups; and,
- enterprise space projects within more residential areas.
The fund has a first preference for loan funding but will also consider grant investments alongside commercial funding agreements.
FIRST ROUND APPLICATIONS
The Future Workspace Fund is currently closed for applications.
It was initially open from 08-23 December 2020, and we anticipate that the Fund will re-open for applications in early 2021.
With limited funds available and in order to ensure the council can deal with applications in a timely manner, we are only able to consider a small number of applications at any one time. This means that applications to the Fund will need to open and close periodically. Please email FutureWorkspace@lambeth.gov.uk to receive email updates on the Fund.
Full details on the Future Workspace Fund and how to apply (once applications are reopened) be found in the First Round Prospectus (link opens PDF).
To apply for funding you will have to complete the First Round Application Form (link downloads Word document), alongside supporting documentation.
Please also see the Questions and Answers Document (link opens PDF) which will be updated on an ongoing basis. This includes questions and answers which the council believes is beneficial for all potential applicants to be aware of.
Although we are not currently accepting applications, you can still contact the team with any questions at firstname.lastname@example.org.