The Lab Fund create to help people and organisations that are developing new ideas and are looking for resources, funding, and advice to make them great. The aim of the Lab is to open funds and create a safe space for innovators and entrepreneurs both city and local to Derry to help together, exchange ideas, and develop projects that will have long-term benefits for the local community.
What is Lab?
The Lab Fund basically consists of three components. In other words, leadership, ambition and belief are the combination of LAB. It is a philanthropic crowd-fund that launches the best new initiatives emerging from Derry, including projects, businesses, events, startups and social enterprises. Then to make these a success, LAB asks local businesses and local people to contribute to the fund on a regular basis – until December 2024.
A symbolic (but nominal) sum of £20.24 per month collecte as our initial enquiry. It’s not a huge amount though, because if 250 people contributed like this, that would be £5,000. But if there are 500 people it will be £10k. So many of us giving even a little bit can make a huge difference.
Who are we?
A project of your Derry Community Interest Company called LAB. About 15 thousand members across cities, regions This is a platform that has about 15 thousand members across cities, regions. Also it is connecting the diaspora across the globe. The fund mainly focuse on building, developing and celebrating the best of leadership, ambition, trust across both ‘people and places’. By LAB the city controls its own destiny and realises positive change. And it drives those who want to improve and grow in various projects, businesses and communities.
What we will do:
(Lab) Funding will be:
• Increase resources and support the development of high growth, SMEs and entrepreneurs.
• Raise capital and provide essential seeds for social enterprises.
• Undertake various local community based projects across the NW region and provide required funds to the groups.
How we fund it:
The Lab asked local businesses to sign up to the Lab Charter to help the city thrive, grow and succeed. Members are asked to sign up for a monthly subscription of just £20.24 per month. LAB is also asked to commit to the Charter Fund’s standards. Sign up to our charter here. Individuals are also welcome to proudly display and sign up their LAB Charter. Large corporations or individuals who wish to be corporate ambassadors are asked to contact here.
What we support:
The 2024 LAB Fund will support projects on an ongoing basis such as:
01. Discovering and nurturing local entrepreneurs who need seed or growth funding to realise brilliance and leverage.
02. Make this region bigger and better for all by organising a new generation of specialised business consultants with a real and local partnership.
03. Social enterprise and community champions and discover social enterprises. And support those who need resources and funding to restore real wealth and health to the region.
04. Focus absolutely on the need for self-determination, courage and self-help.
05. Maintain integrity, honour and good governance in all disbursements by the Fund.
06. Supporting individual ambassadors from the NW community who best represent the Charter values at the international or national level.
Where can you find us?
We are delighted to announce that your Derry Headquarter is located at ‘The AMP‘ Columba Terrace Derry.
Final Thoughts
The LAB fund is probably the most important thing you can do when you are starting a company or a project. It is basically the embodiment of leadership, ambition, and belief. In other words, this is an idea that can be applied in almost any situation or endeavour in which one person (or group) wants to accomplish something big. So we can say that The Lab Fund is a place that encourages initiative and ambitions.
