Welsh Government Foundational Economy Challenge Fund

The Foundational Economy is a name for those business activities that we use every day. Care and health services, food, housing, energy, construction, tourism and retailers on the high street are all examples of the foundational economy.

WG Economy Fund

The Welsh Government’s Foundational Economy Challenge Fund offers funding of up to £100,000 to support organisations and businesses, to think of and introduce innovative ways of working to help raise foundational economy's profile and to stimulate debate and learning on what works.


Who can apply?

Any public, private or third sector organisation which can demonstrate it is active in the foundational economy in ways which benefit Wales is eligible to apply for this fund, however the following conditions should apply :

  • projects must be based in Wales (organisations outside Wales can bid but the activity and benefit must be in Wales)
  • it must be a new activity / project in Wales, the funding cannot be used to fund ongoing projects
  • the projects must benefit the foundational Economy in Wales

Fund administrators will be holding surgeries to discuss project ideas and they will provide further information about the priorities and criteria for the fund. Please see below the dates for the Foundational Economy Challenge Fund Surgeries:-

  • 3 June – Welsh Government Office - Government Buildings, Picton Terrace, Carmarthen  SA31 3BT
  • 3 June – Welsh Government Office - Sarn Mynach, Llandudno Junction LL31 9RZ
  • 4 June – Welsh Government Office - Rhydycar Business Park, Merthyr Tydfil  CF48 1UZ
  • 6 June – Welsh Government Office - Ladywell House, Newtown  SY16 1JB

To book a 30-minute slot at your preferred location please call the Business Wales Helpline on 03000 6 03000. 

The deadline for applications is 12 July 2019.


For further information on the Foundational Economy Challenge Fund please contact  Business Wales on 03000 6 03000 or visit our contact us page. 

A summary guidance note is available here.