Cogent targets new skills funding
17 Mar 2011
London –Cogent is highlight the availabilty of a new UK government funding package to support skills development, particularly among SMEs. The “Growth and Innovation Fund” (GIF) initiative, it said, will be welcomed by employers in science-based industries.
The GIF will make £50m available over the next two financial years for employer-led proposals. These must be designed to raise skill levels and business performance through innovative approaches that address a clear market failure or opportunity.
The scheme, which requires co-investment from employers, is aimed particularly at skills solutions which have the potential to achieve scale and make a significant impact.
Excluded, though, are elements such as funding for tangible fixed assets, retrospective investments, profit-making, other funded projects, projects which include significant marketing, communication or consultancy.
There are three strands to GIF funding:
- Joint Investment Programme - focused on Apprenticeship Frameworks, small accredited qualifications and whole QCF units
- National Skills Academies
- Best Market Solutions - focused on greater business investment in skills and growth through proposals which use National Occupational Standards, levies, employer networks (such as Group Training Associations), or other innovative solutions to skills barriers.
Cogent is now inviting input from companies on how they think this new funding could be applied. Employers are being asked, for example, for input on which qualifications are key to their industry, and to explain any barriers to taking on an apprentice.
Anyone interested in becoming involved in the employer consultation phase can email Jayne Edwards, strategic projects manager at Cogent, GIFinfo@cogent-ssc.com
