Training providers and further education colleges can now tap into a new fund to help them connect with businesses in an innovative and collaborative way.

The FE Specialisation and Innovation Fund (FESIF) was set up to deliver the government’s aim of making the UK the leading place in the world to be an innovative business or public service.

It will help enable FE colleges and training providers to refine and expand the way they manage and deliver their employer training solutions. Finally, it will allow them to learn from their experiences, and share that learning more widely.

FE colleges and training providers are particularly well placed to deliver business innovation by pooling their collective knowledge and expertise. The fund will help the sector drive a collaborative and practical approach to innovation through a small number of targeted pathfinder projects.

Innovation minister Ian Pearson said: “One of the key challenges facing this country is the skills race – a race which we can and must win.

“The Specialisation and Innovation Fund will help FE colleges to connect with business and enhance their reputation for innovation and specialism – establishing their vital support role in helping businesses to succeed in the global knowledge economy.”

Bids are now being taken and successful providers will be notified in the autumn. Funding of between £250,000-£800,000 will be available for one year for successful applicants and providers need to apply by 17 September to be eligible.

The Learning and Skills Council is looking for FE colleges and training providers with fresh ideas backed with strong delivery plans which demonstrate eligibility, sustainability, potential and connectivity. Providers are encouraged to use the fund to connect with business and demonstrate their ability to deliver tailored high quality training.

More information and application details are available here.