Nearly half a million pounds has been awarded to support charitable organisations across the capital looking to get their foot on the ladder of the social investment market.
In partnership with UBS, the Trust has awarded a total of £429,240 to 12 London organisations through their fifth round of the social investment-readiness programme Stepping Stones. This brings the total awards given to £3,231,340 to 77 organisations since the launch of the fund in 2015.
The Stepping Stones Fund was launched to support charities and social enterprises in London who want to access the social investment market. Funding helps organisations develop their ideas, bring in new technical assistance and get products ready for market.
The latest round of grantees range from employability programmes helping young people into work to a social enterprise helping new parents transition into parenthood.
One grantee, Strengths in Communities CIC, is a social enterprise specialising in supporting parents in the early stages of parenthood and ensuring babies have the best start in life. Life changing skilled support is offered during pregnancy, birth and beyond to mothers, fathers and babies.
Another, Talawa Theatre Company, is a charity working to address the lack of diversity in the theatre industry, addressing barriers to entry, as well as support for those at the early stage of their careers. London-based but with a national remit, Talawa stages theatre productions, holds readings of works from promising black writers, and offers feedback on scripts.
A full list of grantees are as follows:
|Action West London|
|£50,000 over 12 months for the full-time recruiter and associated project costs to pilot better outcomes in recruitment, with a view to securing social investment.|
|£8,000 over 12 months for the support of Sporting Assets to scope social investment opportunities utilising its building for the purpose of raising social finance, and frame Baytree Centre’s impact in order to better attract social investment.|
|Bonny Downs Community Association|
|£44,400 over 18 months towards research on new income generation options, and to develop capacity and knowledge within the organisation.|
|£50,000 to deliver a 12-month pilot of the Social Enterprise Peer Accelerator.|
|London Irish Centre Charity – Community Services|
|£40,000 over 12 months to determine a suitable operational model for the London Irish Centre.|
|Roj Women Association|
|£10,000 over 12 months for working capital to develop Roj Women’s Kurds & Whey trading subsidiary.|
|£10,000 towards research into community finance mechanisms to increase community ownership and raise funds towards the Selby Centre redevelopment.|
|Speakers Trust Limited|
|£49,100 to research, develop and implement the products, systems and processes needed to scale the income-generating trading-for-purpose arm of Speakers’ Trust, enhancing long-term financial sustainability and enable social investment.|
|Strengths in Communities CIC|
|£41,200 over 12 months to build the organisation’s capacity to explore the feasibility of new commissioning models and further develop income generating strategies with a view to taking on social investment.|
|Talawa Theatre Company|
|£50,000 to allow Talawa to undertake a comprehensive feasibility study and organisational development plan with a view to acquiring its own building in London.|
|£30,040 to contribute towards the costs of a pilot year to develop an Innovation Hub.|
|£46,500 over 12 months to implement a CRM system, recruit a full-time Programme Assistant, increase the hours of the Senior Programme Lead and develop plans to raise social investment.|