Capability and Innovation Fund - Pool F
The Alternative Remedies Package (ARP) that BCR is delivering includes in its process an ability for awardees to revise their original business cases, subject to the approval of the BCR Board. One awardee, Onfido Limited, returned £5m to BCR after their own internal strategic reviews indicated a change in business direction. A further awardee, Ebury Partners Limited, returned £7.5m to BCR after reducing the scope of their Business Plan to focus on investing in scalability and an improved online user experience for UK SMEs. Consequently, BCR now has £12.5m CIF funding available (referred to as ‘Pool F’) for distribution under the Capability and Innovation Fund (CIF) scheme to support eligible bodies providing innovative financial services to UK SMEs.
As set out under the ARP terms, eligible applicants for Pool F will include Pool A, B and C bodies, but not Pool D bodies. As with Pool E, this new pool will be open to existing participants. BCR is required to consult with potential applicants on the size of awards and the consultation letter can be found here. Potential applicants that wish to register their interest in advance, can do so by emailing firstname.lastname@example.org.
The award sizes available in Pool F will be shared on the BCR website once the consultation has closed and the award sizes have been finalised.
The expected timeline for Pool F can be found here:
Keep up to date with BCR press releases and new content on the website (info here)
Review the updated documents for Pool F (info here)
Potential applicants can register their interest currently by emailing email@example.com. They will then be contacted in August to provide access to the CIF Data Room.
What we can tell you at this time:
- £12.5m of awards will be available for Pools A, B and C bodies only.
- Existing awardees and applicants from previous rounds will be able to apply as well as new applicants.
- Eligibility criteria is in line with previous pools and can be found on our website here.
- It is likely to be important for Pool F projects to be completed by end of December 2022. The assessment criteria can be found here.
- The Application Documents will not be materially different from the original Application Documents and can be found here. These will be uploaded to the CIF Data Room (Scout) in August when the application window opens.