The Central Optical Fund works to promote, protect, develop and support optometry.
Applications, complete with all supporting documents, are appraised by committee at quarterly meetings, and any arising queries will be put to the applicant. Successful applicants will receive a conditional offer, and its acceptance will be followed by the funding forwarded to the applicant. An example of our typical terms and conditions can be downloaded: Central Optical Fund – Funding Terms and Conditions.
Aims & objectives. What is the project trying to achieve?
What the project entails with a timetable of events.
How much of the profession will benefit? This will range from affecting a minority, to the entire profession. Projects potentially benefiting the entire profession are viewed more favourably.
What will the impact be on the profession? Projects with a high impact will be viewed more favourably.
Project output evaluation. How will the project’s outputs and successful outcomes be measured? Projects which are likely to have successful outcomes or with a proven track record will be viewed more favourably, those with highly uncertain outcomes less so.
A financial business plan. Detailed costings and projections based on realistic information.
Importance & necessity
Why is the project important? Applicants are to demonstrate the need for funding.
What complimentary resources have been secured, be they financial, equipment, personnel, premises, or other. Projects proposed by organisations must demonstrate why they cannot fund the project. Projects where complementary resources have been secured – particularly external funding – will be viewed more favourably.
Applications for high value awards will need to be of exceptional quality to be considered. Please bear in mind that partial awards may be made on occasions.
Is funding sought of a perpetual nature? If so, then the application will be viewed less favourably. The Fund is for “seed” funding – to get projects going – not to provide ongoing support.
You will need to explain in detail how any contribution from the Fund will be acknowledged and promoted.
Relevant past experience
Applicants demonstrating relevant past experience will be viewed more favourably, particularly if similar to the proposed project.