FUNDING: Investment and Contract Readiness Fund
The £10m Investment and Contract Readiness Fund is now accepting applications from social ventures enable social ventures to access new forms of investment and compete for public service contracts.
From Monday 21 May 2012, grants between £50,000 and £150,000 will be available on a rolling basis to ambitious social ventures who will go on to raise at least £500,000 investment, or who want to bid for contracts over £1 million.
Ventures will be required to apply in partnership with an approved provider.
About the Fund
The Investment and Contract Readiness Fund is a new £10 million fund, managed by The Social Investment Business, on behalf of the Office for Civil Society that aims to ensure social ventures are better equipped to secure new forms of investment and compete for public service contracts.
The Fund will provide grants to social ventures that have the potential for high growth and delivering positive social impact for the purchase of specific capacity building support to help facilitate that growth
The Investment and Contract Readiness Fund is key to developing the social investment market as for the first time a group of the leading social investors in the country have been brought together to help shape the programme. These investors will decide who can provide sufficiently high quality business support and also which social ventures should receive grants. The likelihood of organisations successfully attracting investment after they have had support is therefore maximised.
For more information and to apply, please visit the ICRF website by clicking here.