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.