# 7 ideas for impact funds win development funding - Link: https://fundraising.co.uk/2021/04/26/7-ideas-for-impact-funds-win-development-funding/ - Published: 2021-04-26T10:39:22+01:00 - Author: Melanie May **Big Society Capital has chosen the seven winners of “Ideas for Impact” – a new programme to develop ideas for impact funds that can invest in the next generation of social impact enterprises. ** The competition attracted 106 applications. The proposals aimed to tackle a wide range of social issues – with the three most common being health & wellbeing; employment, training & education; and housing & local facilities. The winners will receive a tailored package of development support while those that were not selected will be signposted to relevant help and funding. **The seven winning ideas are:** ## Advertisement * Social business support organisations [Catch22](https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fwww.catch-22.org.uk%2F/1/010201790d32d5c3-e34e95e5-d6cd-425b-8874-9910540d328e-000000/hbztGC65EkGCpEFzxfH0sedJfIk=211) and [Hatch Enterprise](https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fhatchenterprise.org%2F/1/010201790d32d5c3-e34e95e5-d6cd-425b-8874-9910540d328e-000000/dfF9u4PY_hR5vly0dGfY9baJqR0=211) have partnered up with socially motivated tech investor [Social Tech Trust](https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fsocialtechtrust.org%2F/1/010201790d32d5c3-e34e95e5-d6cd-425b-8874-9910540d328e-000000/8ERYyJ3Yt8O901NIDpGaywAlZtY=211) to develop a programme and fund to support organisations in creating solutions to tackle youth unemployment. * Social enterprise [Cornerstone Place](https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fcornerstoneplace.co.uk%2F/1/010201790d32d5c3-e34e95e5-d6cd-425b-8874-9910540d328e-000000/KsPZfNB1zSHbwTFz16mGwjT4154=211) hopes to create a new fund that will support the development or refurbishment of properties to rent to homelessness charities, with the fund taking development risk on properties and using an innovative revenue sharing model. * Charity [North East Churches Acting Together](https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fnecat.co.uk%2F/1/010201790d32d5c3-e34e95e5-d6cd-425b-8874-9910540d328e-000000/YRP4UC35B3OK3ir-yWTCK_CtId0=211) is looking to scope opportunities to unlock church-owned land and buildings in the North East for affordable and assisted housing. * Think-tank [Resolution Foundation](https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fwww.resolutionfoundation.org%2F/1/010201790d32d5c3-e34e95e5-d6cd-425b-8874-9910540d328e-000000/hDSn4Qu_gOR6RgyhOz_S0HJtfwQ=211) is scoping a proposed venture fund to invest in ‘tech for good’ ventures that improve working lives for low-paid and insecure workers; addressing structural challenges in UK labour market around rights, progression and skills. * Social investment fund manager [Resonance](https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fresonance.ltd.uk%2F/1/010201790d32d5c3-e34e95e5-d6cd-425b-8874-9910540d328e-000000/oMiodEDvfudx1l2ivMFy0rkEjCU=211) wants to scope the appetite and market for a distressed assets fund that looks to purchase properties and lease them back to social and community enterprises on an initial rent-free basis to support their recovery. * Social investment consultancy organisation [Social Finance](https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fwww.socialfinance.org.uk%2F/1/010201790d32d5c3-e34e95e5-d6cd-425b-8874-9910540d328e-000000/p5LQkw2peAphpYGWHgv0sBkqU8k=211) is testing the feasibility of a circular economy outcomes fund, in partnership with [ReLondon](https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fwww.london.gov.uk%2Fwhat-we-do%2Fenvironment%2Fwaste-and-recycling%2Frelondon/1/010201790d32d5c3-e34e95e5-d6cd-425b-8874-9910540d328e-000000/CydBCUJqsYXg5TlybPXKFyHY_dM=211)( previously London Waste and Recycling Board). It aims to grow the circular economy, fund outcomes such as reduction of waste and CO2 emissions, and support purpose- led organisations with a circular mission at their heart. * Social enterprise support organisation [UnLtd](https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fwww.unltd.org.uk%2F/1/010201790d32d5c3-e34e95e5-d6cd-425b-8874-9910540d328e-000000/SIh0nDCbBzH-mjGwJB-6raPR_Qg=211) is working together with social investor [Big Issue Invest](https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fbigissueinvest.com%2F/1/010201790d32d5c3-e34e95e5-d6cd-425b-8874-9910540d328e-000000/aIGkDaHOsQcGWcdbn15XRZGMd5k=211) to build and share an online tool where social enterprises are able to understand and improve their diversity, equity and inclusion practices and policies. Applicants were asked to explain the social issue, business models and potential for investment associated with their idea – which would allow multiple social sector organisations to access investment. They had to demonstrate potential to scale through a fund or similar financial structure which could take on investment from [Big Society Capital](https://bigsocietycapital.com/) and/or others in future. The selection panel included a range of experts and leaders across the social enterprise and social impact investment sector: Andrew Croft, SEUK; Ben Smith, Esmée Fairbairn Foundation; Camilla Dolan, EKA Ventures; June O’Sullivan, London Early Years Foundation; Liz Hayes, Connect Fund; Matthew Bowcock, The Beacon Collaborative; Sarah Colston, Access Foundation; Paul Nicoll, Triodos; Celia Hannon, Nesta. Amir Rizwan and Jo Heywood, Relationship Directors at Big Society Capital, said: > “We are very excited to support the seven selected ideas, which were chosen either > because they are tackling a social issue needing continued innovation (e.g. diversity > in social entrepreneurship/investment) or because the fund used a new finance > solution (e.g. shared upside between fund manager and charity). >   > “They have demonstrated great potential to scale up with social impact investment > and help improve people’s lives.  Social impact investment can unlock much needed > funding for charities and social enterprises and through this initiative, we are > able to support the early-stage development of ideas that could sustain and grow > vital services in communities across the UK.” Celia Hannon, Director of Discovery at Nesta and a member of the selection panel, said:  > “The Ideas for Impact process unearthed some promising proposals, showing just > how important it is for funders to adopt open initiatives which aim to surface > novel approaches. The common themes Big Society Capital identified across the > applications (such as those focused on insecure employment or those addressing > diversity, equity and inclusion) also shone a spotlight on an important set of > issues for the social impact investment space in years to come. I look forward > to seeing how the fund ideas develop through this process.” * **[Beam wins Queen’s Award for Enterprise](https://fundraising.co.uk/2021/04/29/beam-wins-queens-award-for-enterprise/)**( 29 April 2021) * **[Community business sector continued to grow in 2020 despite pandemic](https://fundraising.co.uk/2021/10/21/community-business-sector-continued-to-grow-in-2020-despite-pandemic/)**( 21 October 2021) * **[Time for funders to increase support for charity enterprise, report says](https://fundraising.co.uk/2023/06/29/time-for-funders-to-increase-support-for-charity-enterprise-report-says/)**( 29 June 2023)