The Big Lottery Fund (BIG) has launched a Kick-Starter fund to support organisations wishing to showcase the impact of their innovative projects to potential social investors.
The news comes as David Cameron prepares to use the UK’s presidency of the G8 Summit in June to put social investment on the global political agenda.
As of May 2013, England-based social businesses and those behind social investment products such as charitable bonds will be able to apply to BIG’s £299,975 Kick-Starter fund to pay for the development of a social impact report.
The assessment process will be supported by social investment specialist CAN and the reports approved by an independent adjudicator. The SSE, CAN and BIG hope the award will be instrumental in the development of impact reporting for social investment and help attract greater capital to the sector.
Once approved, organisations will feature on a soon-to-be-launched online platform developed by the Social Stock Exchange. Backed by organisations including Big Society Capital and Panahpur, the Social Stock Exchange seeks to help impact investors to find global social investment opportunities, thus supporting the further growth of the market. By doing this the new platform will address a key gap in the social investment market and ultimately support social businesses and charities to achieve greater social impact.
Nat Sloane, England Chair of the Big Lottery Fund, said: “I am delighted that we are supporting a brand new fund that will not only lead to an increase in investment in social businesses and charities but will also support them to demonstrate their social impact more fully. It very much supports our efforts to develop the social investment market in a way that supports charities and other social sector organisations to better serve those most in need. With this award, a range of other funding interventions BIG has announced and has in development, and with the subject set to be discussed at the G8, these are indeed exciting times for social investment.”
For further information, visit: www.biglotteryfund.org.uk/scotland/global-content/press-releases/england/120313_eng_sse_big-lottery-fund-kick-start