The Northern Rock Foundation is offering charities in Cumbria and north-east England grants of up to £50,000 to develop ideas for new income streams and services.
The second round of the charity’s Fresh Ideas Fund, open until 29 June, has a total budget of £500,000.
Applicants must be charities whose missions align with the foundation’s five key programmes, which are based on different aspects of social and financial inclusion.
Their proposals must put forward new and innovative ways of generating income or offering a new service.
Funding can be spent on feasibility studies, expert advice and start-up costs. Successful applicants will also receive support from mentors from the venture capital firm Northstar Ventures.
Richard Walton, programme manager for the Northern Rock Foundation, said: "The key objective is to support leaders and enable them to develop new ideas.
"Whether it be to develop a new social enterprise, bid for a new contract in a new area, develop and market a new training programme, build a partnership with a new charity or completely remodel an existing service, the Fresh Ideas Fund will enable organisations to take those ideas to the next stage."