It has been created by City Bridge Trust and Trust for London and will be run by crowdfunding platform Crowdfunder.
The Improving Life for Londoners fund will provide up to 50% of the target, up to a maximum of £10,000, with projects expected to raise at least the first 25% from the crowd.
City Bridge Trust, the City of London Corporation’s charitable funder, and Trust for London have each contributed £50,000 to the fund.
The fund was developed following research by the Social Innovation Partnership.
What will it support?
The fund will support charitable work that:
· Provides practical solutions to support people on low incomes.
· Addresses local problems in creative ways.
· Is led by communities that will benefit from the work.
Alison Gowman, Chairman of the City of London Corporation’s City Bridge Trust committee, said:
“This scheme aims to bring new innovative ideas for fighting poverty in London and reach new organisations that would not naturally approach us.”
Bharat Mehta, Chief Executive of Trust for London, added:
“Trust for London is excited by the potential impact of crowdfunding, which provides smaller organisations the opportunity to raise funds quickly to deliver innovative projects.”
Applications to Improving Life for Londoners are now open.
About the funders
Trust for London tackles poverty and inequality in the capital. It provides about £7 million in grants and at any one point is supporting some 400 organisations.
City Bridge Trust is London’s biggest independent grant giver, distributing £20 million a year to tackle disadvantage across the capital. The Trust has awarded around 7,500 grants totalling over £360 million since it first began in 1995.
— City Bridge Trust (@CityBridgeTrust) March 14, 2017
— Trust for London (@trustforlondon) March 17, 2017
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