Barnet launches “”Big Society Innovation Bank””

Barnet Council has launched a fund to help in “”””shifting power from state to citezens””””.

The council says that at a time of financial constraint in the public sector, “”””business as usual is not an option””””. The council has put aside £600,000 over three years for their “”””Big Society Innovation Bank”””” to kick-start citizen- and community-led projects. Up to £200,000 will be available in 2011/12 to help make “”””greater use of local creativity and entrepreneurial spirit””””.

To get funding, ideas will need to either innovate to help a local community, or help in shifting power from the state to citizens.

Funds may be used as seed capital, to purchase business support, as a start-up grant or for certain one-off costs. See www.innovationbankbarnet.org.uk for further information.

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