The Government has announced a £3 million social investment fund to support creative and cultural organisations across the Northern Powerhouse.
The Northern Cultural Regeneration Fund (NCRF) will run for two years from April 2019 and will be open to non-profit creative, arts and cultural organisation as well as small or medium-sized creative businesses from industries such as crafts, design, fashion and art all of whom will need to demonstrate meaningful social impact in their local communities.
Key Fund will manage the distribution of the fund, with Creative United and Social Investment Business as key partners.
The fund is part of the Government’s ongoing commitment to grow a culture of impact investing, including improving access to finance for local cultural and creative organisations that do social good.
Creativity is one of the North’s greatest calling cards. This funding will strengthen arts and cultural organisations across the Northern Powerhouse and boost the important work they do in their local communities.
Minister for Arts, Heritage and Tourism Michael Ellis
Matt Smith, Chief Executive of Key Fund Investments Ltd, said:
We are incredibly excited about the potential impact of the fund developing and supporting both the creative and cultural activity, whilst delivering social impact in disadvantaged communities across the North.
More information will be announced soon.
Image credit: The Baltic, courtesy Andy Wright, Flickr