The Propeller Enterprise Award is now closed.
Propeller Enterprise Award
Up to £1,000 to help you develop your enterprising project or business idea
What is the Propeller Enterprise Award?
The Propeller Enterprise Award is a fund we offer to innovative and enterprising projects. We typically look at projects that need financing in order to test ideas or get off the ground – although that certainly isn’t limiting criteria. We have had plenty of established businesses apply for ambitious, new projects too.
Each winner will receive up to £1,000 to help turn their enterprising idea into a reality, or to further grow their existing early stage business. This also includes social/voluntary enterprises and projects too. When we draw up the award package, we are flexible in meeting the specific needs of you and your project. Just ask if you’re uncertain if it’s right for you.
What can the enterprise award support?
You can apply for an award whether you are a freelancer, sole-trader, new start-up business, community leader, volunteer, or existing business.
Ideally, we look at those ready to act out their plans. As a result, we prioritize projects that can be started within 4 months.
Some examples of previous spends include:
- Feasibility exercises/market testing
- Marketing content & materials, including digital
- Operating costs
- Specialist Business equipment
- Specialist advice or services
Please note, the award cannot be spent on travel expenses, phones, tablets or laptops.
What is the application process?
- Applications open for 4-6 weeks.
- Attend an information session, where you will be provided with an application form and our criteria for success.
- Any applications received after the deadline will not be considered.
- You will be invited to present to a panel of business owners after 1-2 weeks.
- Finally, we will let the winners know.
If You Win a Propeller Enterprise Award
How do I get the money?
If the panel decides to support your project, you’ll be offered an ‘Enterprise Deal’ including:
- The amount of money you are being offered
- What counts as an eligible spend
- The time frame within which to spend the award
- Your commitment to attend review meetings
- The evidence you need to provide us
Can I change my mind?
- Please let us know as soon as possible if you wish to withdraw, or your plans change.
- You can withdraw at any stage during the application process, just let your mentor know.
- If you want to withdraw after we’ve given you part funding, you’ll need to return the money.
- If you’ve already spent some, or all, of the money, then you’ll need to evidence the spend. You will have to return the remainder.
- Your mentor will also work with you to understand why things haven’t worked out as planned.