The transitional scheme, intended for voluntary and community organisations as well as social enterprises, is separate to the £100m of transition fund being administered by the Office for Civil Society.
When the DfE programme launched last month the government was unable to specify how much money would be available for bidders. In total 553 applications for funding have been made, of which 196 applications have been progressed to stage two. Formal bids from these successful tenders must now be made by 31 January.
Applicants will be told whether their bids have been successful on 25 February with funding commencing from April.
The fund is intended to help organisations adjust to new funding arrangements with the government stating that future sources of income could include the new early intervention grant being handed to local authorities, services commissioned by schools, the National Citizen Service and the Big Society Bank.
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