Social entrepreneurs offered chance to win share of £1.2m
Posted by BusinessZone.co.uk in Finances on Wed, 01/06/2011 - 10:52
England's most ambitious social entrepreneurs are being offered the chance to win a share of more than £1.2m of capital investment as part of a new competition.
The Big Venture Challenge, run by UnLtd and supported by the Big Lottery Fund and the Millennium Awards Trust, will reward 25 socially focused business owners with funding of £25,000 plus extensive business support from organisations including Coutts, The Supper Club and Deutsche Bank.
Of the 25, the best 10 ventures will receive a second round of £50,000, with a final two which demonstrate the fastest growth receiving additional funding of £100,000.
Shortlisted entrants will be invited to pitch in front of a panel of experts including BusinessZone.co.uk editor Dan Martin.
Cliff Prior, CEO of UnLtd, said: "It is a time of great opportunity and great need for a new generation of innovative social entrepreneurs. The overwhelming interest to date demonstrates Britain’s entrepreneurial and ambitious spirit to change society for the better.
Peter Wanless, CEO of Big Lottery Fund, added: "Founding a social venture is a challenge; it needs determination and perseverance to take it from the start-up to being an established business.
"Big Venture Challenge gives entrepreneurs the unique chance to scale up quickly, helping deliver social impact in communities – from a local to national stage – where the public sector can no longer provide. This is a huge deal, and a really exciting new presence in the social enterprise market."
Applications for the Big Venture Challenge close at 5pm on 30 June. To apply, visit the competition website.
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