Have you got a big idea that could have a positive impact on the construction industry? The Industry Impact Fund could be just what you need to turn that idea into a reality.

Launched alongside the Construction Industry Training Board's (CITB) Business Plan for 2023-24 earlier this year, the innovative new fund invites CITB-registered employers to apply for up to £500,000.

Being the first of its kind for CITB, the fund will pilot a new way of supporting the needs of industry by putting employers in the driving seat with designing and developing training and skills solutions.

The fund provides the opportunity for a greater say on the best solutions for tackling some of the biggest skills challenges. Employer’s ideas must be new and innovative, not previously supported by CITB, as well as scalable. The fund is seeking big picture ideas that enable shared knowledge and resources across the industry and are sustainable past the period of funding.

A key requirement for applications is that the idea should propose and develop solutions on how to enhance at least one of the following areas:

Productivity: To improve the efficiency and effectiveness across the supply chain. This could be implementing new training methods, improving communication and collaboration among teams, or streamlining workflows to increase outputs.

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Equality: To ensure that all workers are treated fairly and with respect, regardless of their race, gender, age, ethnicity, religion, or sexual orientation.

Diversity: To secure the presence of different perspectives, experiences, and backgrounds among the construction workforces.

Inclusion: To create a work environment that is supportive and welcoming of all workers by promoting open communication between colleagues, fostering a sense of belonging and creating policies and good practices that ensures workers feel valued and respected.

By improving productivity, the industry will be better able to deliver the expected demand for construction over the coming years. Focusing funding on solutions that encourage greater equality, diversity, and inclusion will also help to make construction a more appealing career choice to more people from a range of backgrounds.

If your application meets the criteria, you may be invited to attend a CITB panel meeting and discuss your ideas in more detail. If your application for funding exceeds £250,000, you will have the opportunity to present your idea to leading industry figures in a ‘Dragon’s Den’ style pitch. The external panel consists of four individuals who have been nominated by CITB’s Industry Funding Committee and Nation Councils.

Tim Balcon, CITB Chief Executive, said: "This new fund is a fantastic opportunity to empower employers, enabling them to have greater say in how they train and build on their skills. It has the potential to have a huge impact and I’m really looking forward to seeing the range of ideas come through.

"We know an additional 225,000 workers are expected to be required by 2027, which is why the fund has carefully selected areas, based on research, that will support construction’s people pipeline. If you have an idea that you think might meet the criteria, please do get in touch with your local adviser to discuss this further."

Find out more information and how to apply for the Industry Impact Fund.