The Next Wave Fund
Supported by J C Peacock and Co. Ltd celebrating 150 years of being a family business.
The Fund is a new initiative designed to support the emerging generation within family businesses across Ayrshire. The fund aims to empower young successors by providing up to £15,000 to explore new ventures, innovations, or approaches within the family business.
Purpose: Family businesses are the backbone of Ayrshire’s economy, but transitioning leadership and ideas across generations can be challenging. This fund aims to unlock potential by giving young members the space and support to experiment, learn, and grow bringing fresh energy to long standing enterprises.
Key Objectives:
- Encourage innovation and entrepreneurial thinking among next-gen family business members.
- Provide financial support to trial new ideas, whether as side ventures, business pivots, or development projects.
- Create a community of peer support, learning, and collaboration among Ayrshire’s future business leaders.
Fund Details:
- Grant Amount: Up to £15,000 per business
- Eligible Applicants: Individuals from family run businesses in Ayrshire, aged approximately 18–35, who are actively involved in or poised to take a role in the business.
- Use of Funds: May be used for prototyping, product development, training, digital transformation, new market research, or starting a pilot venture.
Support & Accountability:
- The fund will officially launch with a Kick Off Event, bringing recipients together.
- Two key follow-ups will be held at 6 months and 12 months, where participants will:
- Share progress and outcomes
- Discuss lessons learned and challenges faced
- Connect through shared experiences and build future collaborations
Long-Term Vision:
The fund is not just about financial support it's about cultivating a network of forward-thinking leaders who will sustain and grow Ayrshire’s business legacy for generations to come.
Application Criteria
Who Can Apply:
- Individuals aged approximately 18–35
- At least 2nd generation in family business
- Must be part of a family run business based in Ayrshire
- Actively involved in the business or positioned to take on a future role
- Must have a genuine new idea, project, or development goal they wish to explore
- Open to sharing their journey with peers at 6 and 12 month check-ins
- Committed to ethical, responsible, and community minded enterprise
Eligible Project Types (examples):
- New product or service development
- Digital transformation or process improvement
- Diversification into a new market or customer segment
- Sustainability or circular economy initiatives
- Skills training, mentorship, or specialist consultancy
- Innovation or tech trials within the existing business
Fund Conditions:
- Funding of up to £15,000 will be awarded
- Funds must be used within 12 months
- Applicants must attend:
- Launch Event
- 6 Month Progress Review
- 12 Month Peer Sharing Session
- A short written and/or presentation will be required at each check-in
Email: [email protected]
Application Criteria
Who Can Apply:
- Individuals aged approximately 18–35
- At least 2nd generation in family business
- Must be part of a family-run business based in Ayrshire
- Must have a genuine new idea, project, or development goal they wish to explore
- Open to sharing their journey with peers at 6 and 12-month check-ins
- Committed to ethical, responsible, and community-minded enterprise
Eligible Project Types (examples):
- New product or service development
- Digital transformation or process improvement
- Diversification into a new market or customer segment
- Sustainability or circular economy initiatives
- Skills training, mentorship, or specialist consultancy
- Innovation or tech trials within the existing business
Fund Conditions:
- Funding of up to £15,000 will be awarded
- Funds must be used within 12 months
- Applicants must attend:
- Launch Event
- 6-Month Progress Review
- 12-Month Peer Sharing Session
- A short written and/or presentation will be required at each check-in
