Lambeth Council’s Future Workspace Fund is now open for applications
Lambeth Council is pleased to announce that the First Round of Lambeth’s Future Workspace Fund is now open for applications.
The Future Workspace Fund builds on the award-winning workspace programme, Lambeth Works. Through the Fund, Lambeth Counncil will make loan and grant investments to workspace providers who can help to meet their ambition to create a world class business support ecosystem in Lambeth.
Over the next five years, the council expects the fund to support almost 2,000 jobs and space for over 600 businesses. In order to stimulate high value cluster growth and accelerate Covid-19 recovery and economic resilience, we’re looking to support the following types of workspaces:
- specialist incubators focused on an innovation-led sectors (such as creative, tech, life sciences and low carbon)
- cultural workspaces such as creative studios
- affordable workspaces for charities and social enterprises
- enterprise space projects within more residential areas.
The Fund will open and close for applications periodically over the next five years, with the First Round opening today. We anticipate allocating approximately £2 million in loans and grants during the First Round. With limited funds available and in order to ensure can deal with applications in a timely manner, we will only be considering a small number of applications at any one time. We’re anticipating high demand and recommend that interested parties with investment-ready projects submit their application at the earliest opportunity. Further funding rounds will be available from Summer 2021.
For more information on how to apply, including the Fund Prospectus, Application Form, and a regularly updated Questions and Answers document, please visit: www.lambethnow.com/futureworkspace.