Crowdfund Solent

Up to £5,000 available for small businesses

Crowdfund Solent seeks to support small and micro businesses, social enterprises and charities as well as the self-employed in the Solent area. 

The scheme is open to any business facing challenging trading conditions as a result of the COVID-19 pandemic, and to those who may be able to adapt their model in order to respond to the changing needs of their business or market. It may also be suitable for your business as part of a growth plan.   

In addition to the help and support needed to run a successful Crowdfunder, you may be eligible for a match fund from The Solent LEP. There’s up to £5,000 available for small businesses (fewer than 50 staff) and £2,000 for micro businesses (fewer than 10 staff). Read the full criteria below and click 'Start crowdfunding' to apply.

About this fund

Active Crowdfund Solent project fund
Crowdfund Solent
Get up to £5,000

This fund provides support for existing micro and small businesses, social enterprises or charities seeking to cope  in or adapt to challenging trading conditions as a result of Covid-19, or those seeking to secure growth funding.

You need a crowdfunding project to apply for funding. Start or continue adding your project and, if eligible, you'll be prompted to apply.

Criteria

The Solent LEP Fund may pledge up to 50% of your project target, up to a £5,000 maximum pledge (depending upon the size of the business) . Before completing your application for match-funding we ask that you read the accompanying guidance notes fully. Read here.

Essential criteria

In order to apply under the Solent LEP Fund, every applicant must:

  • Be located in the Solent area - view map here
  • Qualify as a micro or small business (Social Enterprises, CIC and Charities engaged in economic activity are also eligible) as per the EU Definition available here.
  • Be an existing business (freelance and self-employed will need to provide evidence that they have been operating for at least 12 months).
  • Clearly explain how, with the help of LEP funding, their business will deliver direct economic benefit within the Solent area.
  • Please also note that any costs incurred prior to the submission of an application are sunk costs and cannot be included in the total project costs.
  • Incur any costs directly, and not via subsidiaries or related companies / organisations.
  • Demonstrate through the application and supporting information that they have the resources, expertise and ability to carry out their proposals within the timescales.
  • Achieve the first 25% of their crowdfund target (from a minimum of 10 supporters) to trigger the LEP funding pledge. Applicants must then go on to crowdfund the remaining amount to reach 100% of their crowdfund target to claim the LEP pledge.
  • Pledges from the Solent LEP Fund will only be made where they are compatible with State Aid legislation. These funds are being offered as de minimis aid, and any businesses supported will need to confirm that they have not been in receipt of other de minimis aid that would result in their business exceeding the EU threshold of €200,000 over a rolling three-year period.

If you would like to discuss any element of this fund beforehand, please contact the Solent Growth Hub team at enquiries@solentlep.org.uk or call 02392 688055.

How to apply for this fund

Start by setting up a crowdfunder project, if eligible you will be able to apply 

Projects supported by The Solent LEP


Crowdfunding in 60 seconds

Got a minute to spare? Watch our 'how it works' animation. You'll get a brief overview of how crowdfunding works and what extra support, services and money that only Crowdfunder can give you. 

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How +Extra funding works

start crowdfunding

Start a project

 Start a new project on Crowdfunder, tell us the basics and a rough outline of your story. Then we can show you funds that you may be eligible for.

Get the word out

Apply for funding

You can then choose to make an application for a relevant fund. If a partner likes your project, they may agree to support it.

Get funded

Start crowdfunding

Start raising money from the crowd and once you reach an agreed percentage of your target, one of our partners could boost your total with a large donation.

Learn to crowdfund

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