Big Issue Invest.
With just a week to the deadline for entries to its Tech for Good Challenge, Big Issue Invest has issued a final call for applicants and is offering words of encouragement to the candidates who are in the process of finalising their applications.
The Tech for Good Challenge is looking to invest £500,000 as well as offering mentoring, nurturing and support to 10 early stage ventures that will significantly improve the life chances of young people.
Big Issue Invest is looking for social enterprises, charities, businesses and young enterprising teams in England that are harnessing the latest digital technologies to radically transform young people’s lives.
There are no repayments on the £50,000 loan for the first three years after which Big Issue Invest would have the option of either converting the loan into a 5% equity, or equity-like stake, or ask for repayment of the loan with an accrued interest rate of 5% p.a.
The organisations behind the challenge, offering support and mentoring are Big Issue Invest and Nominet Trust and five corporate partners: Bank of America Merrill Lynch, LDC, MITIE, Salesforce Foundation and Unity Trust Bank. The Challenge is also supported by The Big Lottery.
Apply at http://bigissueinvest-csv.com by 15th April 2013.
A London-based charity has received funding worth £10,000 to develop an app which will help families calculate the impact of benefit cuts.
Child Poverty Action Group is one of 47 projects in the city sharing £436,773 from the Big Lottery Fund’s (Big) Awards For All programme.
The money will be used to develop an online calculator that will help families find out how they will be affected by the new Universal Credit system.
Derek Richards, head of business programmes at Child Poverty Action Group, said: “These changes to welfare are the biggest since World War II but advice services have been suffering heavily as a result of the cuts.
“We had to think of new ways to help people work out how their everyday finances may change and after doing our sums we came up with the calculator app. Now, thanks to the Big Lottery Fund, we can start work on it straight away.”
Alison Rowe, Big’s head of the London region, said: “I’m sure this online app will be a fantastic resource and it’s a great example of how relatively small grants have the potential to help a huge number of people across the country.”
Other groups benefiting from the funding include Destiny House International in Brent, which has been awarded £9,652.
This money will be used to deliver workshops for unemployed young people, to help boost their work experience skills and improve their job prospects.
Meanwhile, Hands Inc in Hackney has received £9,907 to host health events for people living with disabilities while the Friendship Society in Bexley will use a grant of £9,994 to run workshops teaching the importance of safe internet browsing for parents.
Other groups set to benefit from the funding include the Down’s Syndrome Association, based in Richmond upon Thames, which has received £9,633, Quaggy Parents Forum, in Lewisham, which secured £9,750, and the Refugee Resettlement Support Project, in Lambeth, which has been awarded £9,360.