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Charities and community groups can apply for a share of £3m to fund innovative and creative projects from the Peoples Postcode Lottery’s (PPL) Dream Fund from today. The PPL is looking to give out grants of between £500,000 and £1.5m to organisations working in partnership to deliver what they see as “dream projects” over three years.

Applications must come from two or more organisations, with a registered charity leading the partnership.

The Dream Fund gives organisations the chance to deliver the project they have always dreamed of, but never had the opportunity to bring to life. We are asking charitable organisations across Great Britain to think big, be ambitious and collaborate with other not-for-profit partners to deliver their dream project According to the PPL website,as well as being “innovative, creative and original” and a “genuine dream”, the project should be seeking “to achieve systemic change by addressing an important social or environmental problem through innovation and collaboration”.

The lead partner must have an annual income of at least twice the amount the project is applying for, but there is no maximum income for applicants.

Laura Chow, head of charities at PPL, said: “This announcement marks the start of an exciting process that will see £3m raised by our players awarded to truly inspirational projects.

The Dream Fund has made a remarkable difference to so many projects over the past nine years, and I have no doubt that we’ll see many more bold and courageous ideas submitted this year.”

Applications for the fund close on 15 October, and the best applicants will be asked to submit more detailed applications by 6 December.Shortlisted applicants from this stage will then be asked to give presentations to the assessment panel in January.The successful projects will be announced in March.More details about the fund can be found on the website of the Postcode Dream Trust, which is administering the money.