Deadline: 18-Jul-21
The Mayor of London is offering grants to London-based SMEs who need support in kickstarting a circular economy pilot as part of their recovery from the Covid-19 pandemic.
Aims of the Circular Pilot funding
- Support London SMEs to join in the green recovery by implementing circular economy pilots.
- Safeguard existing circular economy jobs and increase the likelihood of more being created.
- Create a positive environmental impact within London in terms of waste reduction or increased recycling.
Support Available
- Grants of £10,000 or £15,000 are available for 30 eligible SMEs.
- All SMEs will initially apply for a £10k grant and those demonstrating that the £15k grant will elevate the project (for example though expansion of the pilot scope) will be rioritised for the larger amount. SMEs working in partnership with another SME to pilot a new initiative, or those able to demonstrate match funding for the project (from internal or external sources) will be more likely to be awarded the larger amount.
- All grant awardees will receive a diagnostic support session and a number of these will be selected for specialist additional support from a ReLondon business advisor. The awardees selected will be required to attend a tailored programme of support, designed by the ReLondon team, to help them get the best from their pilot.
- Successful SMEs will receive 75% of the grant amount immediately, with the remaining 25% being paid after approximately 3 months, on receipt of a pilot status report.
What will be funded
To be eligible for funding, pilots must fit with one or more of our circular business models:
- Using stuff wisely — minimising waste through better planning, making the most out of every last scrap of material or not making things at all.
- Using stuff again — recovering materials for recycling and re-use at the end of their first life, incentivising product takeback, making things from others’ waste or recycled materials and reselling preloved stuff.
- Making things well — designing things to last as long as possible, making them durable and flexible, and ensuring that they can be maintained, re- used and repaired; or ensuring they are recyclable, renewable or compostable at end of life.
- Renting, not buying — offering items to lease, rent or through a subscription model, while retaining ownership and managing the maintenance, repair, and recycling of products.
- Sharing — peer-to-peer lending and borrowing to get maximum value and use out of under-utilised products, buildings and vehicles.
Eligibility Criteria
- Recipients will be established, revenue generating businesses that are looking to accelerate their growth by launching circular pilots that optimise resource use, minimise costs and generate new revenue.
- Successful applicants will launch a pilot initiative that:
- Has potential to grow the business through reduced costs, creating new products or services, or entering new markets; and
- Contributes to job creation within the business as a direct or indirect result of implementing a pilot project, generating growth in the medium-to-long term; and
- Creates a positive environmental impact in London by reducing waste production or increasing recycling/reuse with the aim of reducing consumption-based emissions.
- Applications are open to businesses that:
- Meet the definition of an SME
- Are a legally registered entity (with Companies House, or other)
- Can demonstrate a registered or trading address in London
- Have an annual revenue of over £100k.
- (Allowance will be made for short term revenue reduction from March 2020 due to Covid-19 impacts where demonstrated to be temporary based on 3 years of financial statements.
- Employ 3 or more people
- Have a circular pilot project concept which can commence in or around September/October 2021 and that will create new activities for the business (and not simply expand an existing model)
- Have designed their pilot project concept around one or more of the circular business models defined by ReLondon
- Have not received more than £350,000 worth of assistance from a public body (financial or equivalent) in the last 3 fiscal years and will not exceed this threshold if awarded a £10k or £15k grant.
For more information, visit https://relondon.gov.uk/business/our-services/grants/grant-call2/