Education, tourism, and trade and investment organisations in England, Scotland, Wales and Northern Ireland are being offered the chance to bid for up to £2 million in government funding.
Cultural and sporting organisations and private sector companies can also be included in bids as part of a new GREAT UK Challenge Fund.
Operating as part of the overall GREAT Campaign, the fund will be administered by VisitEngland.
Decisions on funding will be made by a programme board comprising of the Foreign & Commonwealth Office, Department for Culture, Media and Sport, British Council, UK Trade & Investment, VisitBritain, the Devolved Administrations and No10 Downing Street.
The UK GREAT Challenge Fund covers the key areas of education, tourism and trade and investment.
It has been established to provide seed-funding for projects that enable city, metropolitan, regional and national organisations and also sector associations operating in partnership to exploit market opportunities overseas.
The focus is to capitalise on opportunities in overseas markets, with up to £2 million being made available to support the fund in 2015/16.
“The GREAT Campaign aims to deliver significant and long-term increases in education, inward investment, trade and tourism to the United Kingdom,” VisitEngland said.
“This fund will support new and innovative project ideas that use GREAT to deliver across any/all of the themes and generate economic benefit at a local, regional or national level.
“The Programme Board will be looking for project ideas which are creative, exciting and innovative from organisations involved in the education, tourism, and trade and investment sectors in order to promote the UK offer overseas.”