Capability and Innovation Fund

The purpose of the Capability and Innovation Fund is to encourage eligible bodies to:

  1. develop and improve their capability to compete with RBS in the provision of banking services to SMEs; and
  2. develop and improve the financial products and services which are available to SMEs.

The Capability and Innovation Fund will be administered by BCR and comprises a total of £425 million which is divided into four pools. These funds are held in trust at the Bank of England. 

How does BCR make CIF decisions? See here. 

The four pools each have a distinct purpose and are divided into a number of pre-determined grants as follows:

Pool A

Number of grants and value of grants:

1 x £120 million

1 x £100 million

1 x £60 million

 

Pool B

Number of grants and value of grants:

1 x £50 million

2 x £15 million

Pool C

Number of grants and value of grants:

4 x £10 million

Pool D

Number of grants and value of grants:

5 x £5 million

Purpose:

To facilitate the development of more advanced business current account offerings and ancillary products for SMEs in the UK giving preference to beneficiaries with an established business current account offering.

Purpose:

To facilitate the modernisation of existing business current account offerings or the development of new business current accounts or ancillary product propositions for SMEs in the UK.

Purpose:

To facilitate the expansion of business offerings to include, lending or payments services to SMEs in the United Kingdom or international payments services to SMEs in the United Kingdom. 

Purpose:

To facilitate the commercialisation of financial technology that is relevant to SMEs.

Pool A is now closed.

Public Commitments can be found here

Pool B is now closed. 

Public Commitments can be found here

Pool C is now closed.

 Pool D is now closed. 

Public Commitments can be found here

Key Capability and Innovation Scheme Dates

Applicant Company Journey

Pool A

Pool A has now closed. Please click here to view the results of the awards.

Public Commitments can be found here.

Pool B

Pool B has now closed. Please click here to view the results of the awards.

Public Commitments can be found here.

Pool C

Pool C has now closed.  

The graphic below sets out the detailed timeline for the Capability and Innovation Fund Pool C from May 2018 through to November 2019. 

Pool D

Pool D has now closed. Please click here to view the results of the awards.

Public Commitments can be found here.

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