Sheffield-based social enterprise Key Fund has been chosen to distribute £3 million to creative and cultural organisations across the North of England.
The Northern Cultural Regeneration Fund was launched as part of 2018's Great Exhibition of the North legacy. The fund will provide grants or loans up to £150,000 for organisations that provide "meaningful social impact" on their communities.
Minister for Arts, Heritage and Tourism Michael Ellis said: "Creativity is one of the North’s greatest calling cards. This funding will strengthen arts and cultural organisations across the Northern Powerhouse and boost the important work they do in their local communities."
Matt Smith, Chief Executive of Key Fund Investments Ltd, said: "We are incredibly excited about the potential impact of the fund developing and supporting both the creative and cultural activity, whilst delivering social impact in disadvantaged communities across the North.
"Key Fund will also partner social investor Social Investment Business for its work in the North East, and Creative United, a community interest company that works to help arts and creative businesses grow.
"The social investment fund will run for two years from April 2019 and is open to non-profit creative, arts and cultural organisations. Small or medium creative businesses from industries such as crafts, design, fashion and art that can demonstrate positive social outcomes can also apply."
The fund will cover the following Local Enterprise Partnership regions: Cheshire and Warrington, Cumbria, Greater Manchester, Humber, Lancashire, Leeds City Region, Liverpool City Region, North East, Sheffield City Region, Tees Valley, York and North Yorkshire and East Riding.
Opening event of the Great Exhibition of the North, River Tyne, Newcastle-Gasteshead / Image: Great Exhibition of the North