FAQs

Pounds for Purpose

The social impact of my idea is UK-wide/global. Is this eligible? 

While there are no geographical restrictions on trading, Pounds for Purpose is funded by the Scottish Government, so the majority of the social impact must be delivered in Scotland. That means that the majority of people who will benefit from your good work must live in Scotland. We cannot fund ideas where the majority of the social impact is UK-wide or global. 

I am working as part of a team. Who puts in the application? 

Pounds for Purpose funds individuals, not teams. While we understand that many ideas have a wider team supporting them, the Pounds for Purpose award must be made to a named individual who will take responsibility for spending and reporting. 

My idea is part of a college/university project. Is this eligible? 

No. We cannot fund anyone applying on behalf of a pre-existing, established organisation like a college or university. 

I don’t have a personal bank account. Can I use someone else’s? 

No. The award must be paid into the personal bank account of the applicant. We cannot make the award to another person or company bank account. 

I am currently in Scotland on a student visa. Does this mean I’m ineligible? 

No. We would consider applications from individuals on student visas as long as they can provide evidence that they would be in the country for the length of the award (currently 6 months) or longer. Please bear in mind, however, that priority will be given to those applications that have the potential to develop into social enterprises. 

It will take longer than 6 months to spend the £500 Pounds for Purpose award. Is this eligible? 

No. We require that all Pounds for Purpose awards are spent and reported on within six months of the award being made. You should only apply if you are confident that you can spend and report on the award within that timeframe. 

I’m not sure my idea will become a social enterprise. Is it still eligible for Pounds for Purpose? 

Yes. At this stage, we are interested in the idea, not the outcome. That said, we will prioritise those ideas that have the potential to develop into a social enterprise.