The Tech for Good Challenge has been set up to help early-stage social enterprises, charities and other organisations to obtain investment to boost their operations.
The initiative targets innovative and disruptive enterprises that are using digital technology to help solve social issues for young people between the ages of 16 and 25.
The programme has a total investment pot of £500,000 to be awarded to Challenge finalists as convertible loans. The sponsor intends to invest up to £50,000 each in 10 enterprises. Coupled with the funding, awardees will have the opportunity to work with leading corporate partners offering a mix of skills and expertise in addition to a range of other support offerings.
The investment can be used to support ventures through the next stage of their growth. The target enterprises must use disruptive technologies that are not capital intensive.
Early stage social enterprises, charities and businesses in England may apply. Equally, applications may be considered from academic institutions and public sector providers.
The programme is focused on creating opportunity for young people in England. Applicants can benefit the wider UK and international markets, however, proposal should focus primarily or significantly on the benefits it can deliver to English audiences.
Speaking at the launch of the programme, Nigel Kershaw OBE, Chief Executive of Big Issue Invest, said:
“Everywhere you look, people’s lives are being transformed by technology. We’re setting out to find 10 enterprises that are using technology to positively transform the lives of young people. It’s not just about providing these ventures with money. It’s about our corporate partners providing their resources, expertise and market knowledge too.
“By ensuring they are truly engaged with the ventures in which they are investing, we redefine the idea of corporate social responsibility. Our ultimate aim is to create an environment that makes it easier for young people to change their lives.”
The deadline for applications is 5pm on Monday 15 April 2013.
Click here for more details (link opens in new window).
Source: Big Issue Invest, 27/02/2013