Relationships with other public funds
Government invests in skills through a number of different routes. Existing skills funding to colleges, training providers and employers remains in place alongside this pilot. More information can be found on the Skills Funding Agency website. Below is a summary of the most relevant employer-based funding routes.
Growth and Innovation Fund (GIF)
GIF supports business networks by co-investing in the infrastructure to support innovative skills solutions with the potential to transform growth in the sector, region or supply chain. For employers interested in developing skills infrastructure proposals, such as professional standards and guilds, GIF support may be available. Where bids submitted to the Employer Ownership pilot have elements of infrastructure costs, BIS and UKCES may discuss with bidders how they might access GIF if appropriate. GIF is managed by UKCES.
Higher Apprenticeship Fund
The Higher Apprenticeship Fund is a £25 million programme of targeted support to extend the range of Higher Level Apprenticeship frameworks available and support the capacity and capability of the delivery infrastructure. Bids can be submitted by collaborative partnerships including employers, Sector Skills Councils, Professional Bodies, National Skills Academies and a range of other partners. A second round of bids for the Fund will be launched shortly.
The Advanced Manufacturing Supply Chain Initiative (AMSCI)
AMSCI is a competition for funding to improve the global competitiveness of advanced manufacturing supply chains and help to attract major new suppliers to set up and manufacture here. Up to £125 million is available to support innovative projects that deliver economic growth.
The initiative aims to develop a globally competitive supply chain (or supply chains) through projects that deliver the following:
- Generate a genuine and measurable impact on competitiveness and economic growth preferably
at a sectoral level
- Make a contribution to innovation and technology development
- Increase the UK manufacturing capacity, capability and efficiency
- Provide positive economic and employment impacts that support rebalancing of the economy and overall economic growth
- Raise skill levels or close skills gaps
Beneficiaries must be located in England, although discussions are taking place with the Devolved Administrations as to whether support for companies based elsewhere within the UK may be available for successful bids, where appropriate. Further details will be available on the Technology Strategy Board website www.innovateuk.org
Please click here to view the Prospectus (PDF, 544 Kb)