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Step 3. Routes to consider

Introduction
Although Objective One will make over £300 million of European investment available - not all of this money will go to projects that apply directly for funding.

There are two key routes to getting Objective One investment - direct applications, applications to Gateway and Key Funds set up for particular purposes.

Applicants will also need to be able to prove they actually need the money - including an explanation of what would happen to the project idea if Objective One funding was not available.

Direct applications
Some projects - both large and small - will be funded through direct applications to Objective One. These may be applications from single organisations or partnerships.

However, private businesses will not (in many circumstances) be able to apply direct for money from Objective One on their own. This is because European funding must be used to give a broad economic benefit to the economy (or a particular sector of the economy), rather than to give one firm a competitive edge.

But businesses will be able to apply direct as part of a partnership. This will often be with a public sector partner (e.g. a local authority, college or Cornwall Enterprise).

Partnerships could also involve a cluster of businesses, or a group of private firms and community or voluntary bodies, which share a common aim or need. (Alternatively, businesses can follow the routes for funding below.)

Gateway and Key Funds
A number of organisations are setting up separate funds - within Objective One - known as Gateway and Key Funds.

These funds will be Objective One projects in their own right and, as such, will go through exactly the same approval process as any other project that makes a direct application.

However, rather than delivering specific project outputs themselves, the funds will channel their money onwards. Because the funds have already been approved in their own right, applications to them should be considerably more flexible and streamlined than applying direct to Objective One.

Projects - including businesses - will be able to apply direct to Gateway and Key Funds instead of going through the full Objective One process.

Gateway Funds will usually be set up to assist a specific sector (e.g. agriculture or learning & skills) and generally relate to only one of the five priorities within the Objective One programme. The fund will then be used to finance projects that are designed to meet specific objectives within these more limited criteria.

Gateway Funds will usually be delivered through an organisation with relevant expertise in the field concerned. For example, a Gateway Fund may propose to regenerate existing industrial sites. It will bid for a grant and then invite applications for funding against an agreed set of criteria to achieve this regeneration.

Gateway Funds are being developed by organisations such as the Regional Development Agency (RDA), South West Investment Group, private sector groups, Cornwall Enterprise, Business Link, Taste of West, Defra, South West PESCA and Cornwall County Council.

Key Funds are small, time-limited projects that set up a fund for an even more specific activity than an Umbrella Fund. The aim of the Key Fund is to give quick and easy access to funds and, because it has already got match funding, the grants available could be for up to 100%.

Key Funds will be particularly helpful in enabling small community projects.

For more information about Gateway and Key Funds see the Objective One directory for details of specific funds or contact the Government Office of the South West for further guidance.

Integrated Area Plans
Objective One can also help communities develop projects for their particular geographic area. These projects will be delivered through Integrated Area Plans (IAPs) - which integrate the economic, social and environmental aspects of the Objective One programme into a framework for use in a specific area. IAPs are particularly relevant for community groups and the many smaller businesses that are so essential to our economy.

IAP's were initially set up for a three-year period but have been extended for the full seven years of the programme through the District Councils.

IAPs will work through town regeneration strategies, community regeneration frameworks, ideas from individual groups, business collaboration projects and targeted initiatives.

There are now 7 IAPs across Cornwall and the Isles of Scilly, each with its own co-ordinator. Micro-businesses with project ideas can work through IAPs to find other local businesses that would be interested in working on a joint project application. IAPs will also provide assistance in preparing the application.

See the Objective One directory for the full list and contact details for each IAP.

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