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NESTA Impact Investment fund - What is it & who is it for?
by Startacus Admin
Startacus loves projects that aim to make a social impact, having a social heart and soul itself, so we are glad to hear of the NESTA Impact Investment Fund that aims to support second stage projects that are making a proven difference.
Taking some content right off the Nesta Impact Investments website the funding pot of £17.6 million (yes that’s right £17.6 million) is ideally looking to fund businesses that support:
the health and wellbeing of an ageing population;
the educational attainment and employability of children and young people; and
the social and environmental sustainability of communities.
With funding being split in the majority from NESTA and BIG Society Capital, and with support from the Omidya Network, there are plans to get extra funding on board as more investors splash the cash and get involved.
But whilst this is for social impact funding, this is for proven businesses that work and have a commercial heart at heart (don’t they all really). Funding starts at £100,000 so you can appreciate that this is not a funding pot to support a wee bit of website development, but to make inroads into how they can take their ‘social’ project and make a serious impact going forward.
Looking to make a long term return on their investment is key to Nesta Investment Management, the subsidiary of NESTA that is managing this fund, so be prepared that you need a proven and watertight business plan to be considered.
Launched back at the end of October we reckon there will be a lot of interest in this application already, so whilst £17.6 million might seem a large amount of spondoolies it might be worth checking out the Nesta Investment Management website for all the details you may need and to see if this is a funding pot that matches to your business.
Mi-IDEA Manchester Networking Event
27th Sep 2016
The teams from CISCO and Manchester Science Partnerships have teamed up to create Mi-IDEA, a post-accelerator designed to foster and nurture digital innovation in the North West of England.