UK-based social business Big Issue has launched a corporate social venturing programme called Big Issue Invest in partnership with financial services firm Barclays, through which social enterprises committed to helping society can now apply for investment capital and business mentoring
The initiative will have investment and support from information services group Experian, First Ark, Fusion21, Places for People, the University of Northampton and the Cabinet Office, which will provide grants the project rom the £10m Social Investment Fund.
The programme will launch this autumn and will bring together corporate partners to help social business grow and deliver sustainable social and financial returns. 20 teams will be selected for an “intensive mentoring programme,” with 10 of them to be selected to receive investments of up to £50,000.
Kathleen Britain, head of UK community investment at Barclays, said: “This programme, one of many we run as part of our wider community investment work, will see Barclays invest not only money, but colleagues’ time and expertise in helping social enterprises develop and grow. The CSV programme will help support a talented pool of people in developing the skills they need to fulfil their potential while adding real and significant value to society.”