Business advisory firm Deloitte LLP has announced the second group of organisations to benefit from its £1 million Social Innovation Pioneers programme. The 16 new Pioneers are a range of social businesses who will work with the firm over the next 12 months to grow their business and social impact.
Pioneers receive over £1 million worth of tailored in-kind support from senior advisers within the firm. This year they come from sectors including hospitality, healthcare, education, and consumer business, and they have revenues ranging from £16,000 to £3.8 milllion.
One of the new Pioneers joining the scheme in the second wave is REDS10, a social enterprise that offers apprenticeship opportunities in construction across London. The enterprise aims to help young people get qualified and employed in a specific trade. By working with Deloitte, it hopes to increase the sectors they can gain employment from and explore further work on social impact bonds to enable more youth employment.
First year of Social Innovation Pioneers
Since the Social Innovation Pioneers programme began in May 2012, 3,000 volunteer hours and 4,000 hours of pro-bono support have been delivered by Deloitte staff to the initial 30 Pioneers. This included strategy support, financial modelling, corporate property advice, website development and impact measurement.
One year on, Pioneers have reported an average growth in turnover of 45%, and 85% have increased employment.
Bob Thust, Director for Responsible Business at Deloitte, said: "Our original 30 Social Innovation Pioneers will now join an alumni network, with many of our staff continuing to support them on a wide range of projects. Close to a third of the original businesses have developed joint ventures with the firm or entered our supply chain".
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