Big Issue Invest, the social investment arm of social publishing company Big Issue Magazine, announced the 12 winners of its Corporate Venturing Challenge on Tuesday.
Big Issue is a company and foundation that empowers the homeless by recruiting them as sellers of its non-profit biweekly magazine. The 12 start-ups were chosen from over 200 applicants operating in the educational opportunities, regional job creation, health and work training sectors.
The winners will each receive £50,000 ($80,000) of funding provided by investors including financial services firm Barclays, social business holding company First Ark, data services provider Experian, University of Northampton and Social Incubator Fund, an accelerator set up by the UK government.
The companies will also be given guidance from corporate mentors.
James Fairweather, chief executive of Big Issue Invest, said: ‘The CSV Programme proves that corporate partners have a significant role to play in the development of early stage social businesses.
“The enthusiasm and drive of these entrepreneurs coupled with the guidance and expertise of their corporate mentors has made this CSV Challenge a resounding success.”
The ventures that have received investment and ongoing support are Ayudante, Advant~age, Circle Sports, Digital Mums, Hereford CIC, House of St Barnabas, Mum’s the Chef, Now Press Play, ParentHub, SXT Health, Swarm Apprenticeships and Talentino.