The charity launched its Thriving Minds fund in February, in partnership with the Julia and Hans Rausing Trust and the Westminster Foundation, to help youth organisations to support young people struggling with their mental health.
More than 1,000 applications were received in the three weeks after bids opened, totalling £30m per year, the charity said.
UK Youth chief executive Ndidi Okezie said the scale of applications reveals huge challenges in supporting youth mental health and a lack of funding in the youth sector.
“This will rise as the effects of the cost-of-living crisis kick in,” Okezie added.
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