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Organisations can apply for a share of £200,000 for innovative and practical business ideas that help schools to improve financial health.

The Department for Education (DfE) is funding a competition to find innovative ways for schools to get the best value from its funding.

Around £200,000 will be available to fund SBRI (Small Business Research Initiative) contracts up to the value of £100,000 and lasting up to 12 months.

School budgets have been protected but they still face cost pressures. Schools need to demonstrate they are giving value for money and managing financial challenges.

The DfE wants to find innovative and practical new ways to communicate with schools and help them to become more financially efficient.

Successful projects are likely to:

• help schools that lack skills, capacity and an awareness of what help is available
• reach financially vulnerable schools
• gain the support of finance teams and the wider school leadership
• provide something not already available in the schools sector
• be effective across all types of schools
• show they can be delivered quickly

Competition information

• this competition is open for applications
• the deadline for registration is noon on 24 February 2016
• the competition is for 100% funded contracts and is open to all organisations that can demonstrate a route to market for their solution
• there will be a briefing event for applicants in February

Find out more about the competition and apply.