Development grants of up to £10,000 are targeted at community businesses that are preparing their offer, and need support to get investment ready. Grants will be paid in two tranches:
- First payment - Business development and community engagement costs: Costs associated with developing the business plan, governance, drafting offer documentation and undertaking community engagement.
- Second payment – Standard Mark and share offer campaign costs: Costs associated with the Standard Mark assessment and promotional spend for the share offer campaign itself.
The Booster Programme has an additional budget to commission development work on particularly novel or innovative investment propositions. This will be incorporated into the development grant award and form part of the first payment.
The second payment will only be released on satisfactory completion of development work funded by the first payment. We expect applicants for pathway one to give us an indication of how much equity match they are applying for, to be confirmed when the business is investment ready, prior to the second payment.
The award of development grants and equity match are two separate decisions; the award of a development grant does not mean that you will be successful in your application for equity match.