HEFCE launched the Economic Challenge Investment Fund (ECIF) in January 2009 to enable higher education to respond rapidly to the needs of employers and individuals during the economic downturn. Universities and colleges in England were invited to take part in a £50 million scheme to help individuals and businesses through the recession.

The ECIF will enable univerisies and colleges to provide tailored training, development and professional support to vulnerable groups.

The fund consists of £25 million provided by HEFCE with matched funding from institutions.

The scheme will provide the following help for individuals:

*development and training for those in work to enable them to continue in employment rather than being made redundant

*training and development for those newly unemployed to improve their chances of re-employment

*support for new graduates to access advice, training and work experience.

For businesses and other organisations the scheme will provide:

*skills training to manage the economic business challenges

*access to knowledge and expertise which will improve business perfomance

*training and development and support packages to business as a way of managing a shrinking business or as an alternative to redundancy.

For further information from HEFCE please visit: www.hefce.ac.uk/econsoc/challenge/#activity

Click here to view the ECIF funding allocations.