Innovation

Challenge Fund

Status: Delivery

Re-building local wealth through sourcing innovative solutions to tackling some of the CCR’s most urgent societal problems.

What is the project about?

The CCR £10m Challenge Fund is aimed at re-building local wealth through bringing innovative solutions to tackling some of the CCR’s most urgent societal problems. Working in partnership with Cardiff University and YLab, the fund will invite our public sector bodies to develop challenges and connect with organisations that are able to provide innovative solutions to the challenges identified. This approach aims to draw on the region’s creativity and ingenuity and bring together the public and private sector in order to deliver novel solutions, where no commercial solution currently exists, and to provide a route to market for the solution.

Three priority themes have been identified. The first is accelerating decarbonisation – specifically, in relation to improving air quality, and transport. The second is improving the health and wellbeing of the region’s citizens, looking at issues such as food and health, and food security. The third is supporting, enhancing and transforming communities, with a focus on town centres, high streets and rural communities.

While these are all long-term problems public sector bodies would grapple with, their urgency has intensified following the coronavirus (COVID-19) pandemic. For example, local and national restrictions have raised new questions about how we organise our transport and improve air quality. They have also increased the need to find new solutions to help our struggling high streets and town centres, which have been faced with economic downturn.

Who is Eligible to Apply?

The call for Challenges is targeted at Public Sector organisations in the Cardiff Capital Region wishing to develop and run challenges.

Public sector organisations may include Local Authorities, Health Boards, and Police Forces etc. However, for challenges to receive funding each challenge must demonstrate scope to:

Solve the greatest societal challenges
Create innovative solutions
Deliver economic impact for the region
Drive commercial scalable opportunities
Build local wealth

All challenges will be assessed against the same criteria. Those successful will be able to receive up to 100% of funding to support the development of challenges.

Investment and leverage

£10m

CCR Investment

£6m

Match Funding

£3m

Projected Leverage

Expected benefits and outcomes

Benefits of getting involved include:

Opportunity to explore creative solutions to local economic challenges
Investment to find and develop innovative solutions
Improved local service delivery that benefits from tailored solutions
New market creation and ability to ‘break through’ public procurement frameworks
Potential for commercial solutions which can be scaled and sold both locally and beyond
Local supply chain growth and development