Foundational Economy Community of Practice

The Welsh Government Foundational Economy Challenge Fund is supporting a series of experimental projects that will identify how we can best support the foundational economy and which Government interventions work best.

During 2020-21, Cynnal Cymru has supported a community of practice for organisations receiving funding from the Welsh Government’s Foundational Economy Challenge Fund. Its aim is to share learning and innovation, build relationships and encourage collaboration.

The Challenge Fund aimed to support projects looking to try out new ways to address challenges – some emerging, some age-old – faced by foundational economy businesses or those relying on their services.

These included:

  • the recruitment, retention and skills of the workforce
  • the delivery structures and design of services
  • the recruitment, retention and skills of the workforce
  • the delivery structures and design of services

The aim was to explore a range of solutions that could potentially generate viable, adaptable models that could be scaled up and spread to strengthen local economies and community wealth-building.

Staring in 2019 with an initial 52 projects, it was always expected that some experiments would not succeed and conditions were made even more challenging by the impact of the pandemic.

A community of practice was also however put in place to help capture some of the rich learning and insights generated by all the projects taking part. The examples in the Case studies section of this site  give a flavour of the projects supported by the Fund – their successes, challenges and above all learning, about how best the foundational economy in their area or sector can be supported.

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The Foundational Economy Challenge Fund supported innovative, experimental approaches to community wealth-building and resilient local economies.

Cefnogodd Cronfa Her Economi Sylfaenol dulliau arloesol ac arbrofol o adeiladu cyfoeth cymunedol ac economïau lleol cadarn.

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