# £500k funding pot to help London charities enter social investment market

- Link: https://fundraising.co.uk/2017/04/04/500k-funding-pot-help-london-charities-enter-social-investment-market/
- Published: 2017-04-04T08:30:04+01:00
- Author: Melanie May

**The Stepping Stones Fund is making £500,000 available for charities that are looking
to break into the London social investment market.**

 

The programme aims to help charities overcome the barriers to seeking social investment,
and is open to charities in Greater London. The deadline for [applications](https://www.citybridgetrust.org.uk/what-we-do/social-investment/stepping-stones-fund/ss-application-process/)
is 10th May**. **

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The [Stepping Stones Fund](https://www.citybridgetrust.org.uk/what-we-do/social-investment/stepping-stones-fund/)
was launched in 2015 by the City of London Corporation’s charitable arm, [City Bridge Trust](https://www.citybridgetrust.org.uk/about-us/),
and [UBS](https://www.ubs.com/). City Bridge Trust has already awarded over £2,185,000
to 49 organisations across 20 London boroughs through the fund.

 

The scheme offers organisations funding, advice and learning opportunities to help
develop their ideas, bring in new technical assistance and get products ready for
market. Beneficiaries range from charities supporting disadvantaged children and
young people, to community projects looking to strengthen local employment skills
and education.

 

Recent grantee, [The Bike Project](http://thebikeproject.co.uk/) (pictured), received
£40,000 last November. It is using the funding to employ bike mechanics to help 
it refurbish more bicycles to donate to refugees so they can become better integrated
and involved in the community.

 

Jem Stein, director of The Bike Project, said:

 

“The Stepping Stones grant has been instrumental in testing our business model on
a larger scale which has transformed our ability to attract investment. This has
already been successful and we are currently discussing our options with potential
investors.”

 

Alison Gowman, Chairman of the City of London Corporation’s City Bridge Trust committee,
said:

 

> “We have already been able to award a large amount of funding to a wide range 
> of organisations through the fund. We understand it takes hard work to develop
> a new market and the simple provision of capital is rarely enough to encourage
> the quality and diversity of product to emerge. We look forward to receiving applications
> from organisations looking to step into the social investment market.”

 * **[Social finance an option for churches says UCIT](https://fundraising.co.uk/2017/06/30/social-finance-option-churches-says-ucit/)**(
   30 June 2017)
 * **[Social investment readiness advice offered to Essex charities](https://fundraising.co.uk/2017/07/13/social-investment-readiness-advice-offered-essex-charities/)**(
   13 July 2017)
 * **[Big Society Capital launches £30 million fund for social lenders](https://fundraising.co.uk/2018/02/08/big-society-capital-launches-30m-fund-social-lenders/)**(
   8 February 2018)

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