Next Steps: Supporting Social Investment – Deadline Approaching
Big Lottery Fund has announced an investment of £6 million that will develop the social investment market to help tackle issues facing communities and individuals most in need in England.
The Next Steps: Supporting Social Investment initiative will see awards of £40,000 to £1 million to social investment proposals that are already in development but are in need of some extra funding to further their plans.
The funding is available to organisations acting in the role of commissioner or intermediary as well as frontline organisations who will deliver the interventions to tackle social need.
The money could facilitate a wide range of activities to develop social investment proposals, from creating systems to collect data, covering the legal and technical costs of finalising social investment proposals, or funding the delivery of interventions to show how in practice they can produce cashable savings for other services.
Chair of BIG’s England Committee Nat Sloane said:
“Clearly the current difficult financial climate presents a great many challenges for the Voluntary and Community Sector, with limited funding available and demand for services increasing. Social investment may hold a more financially sustainable answer to addressing some of the problems faced by society. It could also support projects that might otherwise look for Lottery funding, potentially freeing up cash for other good causes.
“This funding package we are announcing today has been developed based on our experience working with BSIF and liaison with social investment experts. It will help us to build some significant learning about social investment and how in practice it could be used for the benefit of communities and those most in need.”
The deadline for applications is 14 December 2011.
For further information please click here (opens in new window).
Source: Big Lottery, 17/11/2011