The Local Enterprise Panel (LEP), chaired by Mayor of London Boris Johnson, has launched a £20m regeneration fund that “will re-energise the capital’s high streets by embracing the city’s incredible talent for creativity and technological innovation”.
The London Regeneration Fund forms part of the LEP’s work to champion small and medium sized enterprises and builds on the longstanding belief that London’s high streets are great places to visit, live in and do business in.
The Fund will give local authorities, traders’ associations, workspace providers, and community groups the chance to come forward with exciting proposals that will help new and traditional places of work thrive in a rapidly changing city.
To launch the campaign, the Mayor’s Office is hosting a ‘Regen Bootcamp’ with ‘open ideas’ sessions that will see designers, architects, tech innovators and social entrepreneurs collaborate with local authorities, community and business organisations to thrash out innovative ideas to support London’s high streets and places of work.
London’s 800,000 small and medium-sized businesses account for nearly half of the capital’s jobs and generate approximately £430bn turnover. The Mayor believes they hold the potential for much of London’s future enterprise, innovation and economic growth, but are struggling to find workspace.
“This fund will take everything that is so good about our local town centres and fuse it with ground-breaking technology and innovation to create high streets that will power our economy for years to come,” he commented.
The fund is open to proposals from boroughs, as well as sub and regional partnerships, town teams and business improvement districts, workspace providers, community groups and charities within London.
The deadline for applications is October 2015 and successful applicants will be notified by January 2015.