FUNDING: Nesta Giving Challenge
The Centre for Challenge Prizes at Nesta is pleased to announce, the launch of two new Giving Challenge Prizes. These prizes have been developed in conjunction with and funded by the Cabinet Office.
The Prizes have been developed to encourage new ways of giving of time, skills and resources for specific social change. The Prizes are one of the actions from the Giving White Paper intended to bring about a step change in the culture of giving. The Prizes are closely aligned with the aspirations of the Cabinet Office's Innovation in Giving Fund, delivered by Nesta.
We want to encourage the social innovations (new ways of doing things) that involve people at a community level in giving time, skills and resources in order to have a big impact on specific social needs.
"We want to make it easier and more compelling for people to get involved in their communities. That's why we set up Challenge Prizes to give organisations an exciting opportunity to come with ideas to solve social issues such as tackling isolation in older people or helping reduce waste in our communities. We want to hear about ideas that make a difference but also mobilise people to get involved.
"These new projects will complement the Innovation in Giving Fund and the Social Action Fund, already set up to encourage giving."
– Nick Hurd, Minister for Civil Society
The two social issues that the challenges address are:
- Waste Reduction
There are three stages in each Challenge Prize.
- Stage One: Entrants provide an overview of their idea.
- Stage Two: Up to twenty five entries are shortlisted and supported to work up detailed plans.
- Stage Three: Up to five Finalists are selected to test their ideas over a period of six months. Finalists will receive up to £10,000 to test their idea. They will also receive non-financial support and guidance to help them test their solutions.
Prize: £50,000 will be awarded to the solution that most successfully meets the Judging criteria for each prize.
Challenge prizes reward measureable outcomes and impacts and are a great way of motivating and testing new ideas. They can also help to leverage additional support and recognition to sustain ideas.
For more information, please visit the Nesta site.