Investment readiness grant fund extended to end of 2017
Big Potential Breakthrough, the Big Lottery Fund investment readiness fund, has been extended until the end of 2017.
The £10m fund, which offers grants to charities and social enterprises to help them work out how social investment can work for them, had been due to close at the end of April 2017.
Jonathan Jenkins, Chief Executive of Social Investment Business, which manages Big Potential, said:
“We are delighted that we have been able to extend Big Potential Breakthrough so that more charities and social enterprises can access the grant funding they need to get investment ready. We have already seen how Big Potential has helped organisations improve their sustainability, capacity and scale and we are looking forward to seeing even more access this vital support in 2017.”
The fund is aimed at charities and social enterprises based in England which are thinking about taking on social investment for the first time and have the ambition to raise up to £500,000 of repayable investment.
The programme offers access to a Diagnostic Tool to help charities and social enterprises understand their own investment readiness needs, a free 1:1 session with a specialist advisor and then the opportunity to work with one of the programmes’ approved providers to apply for an investment readiness grant.
Gemma Bull, England Portfolio Development Director at the Big Lottery Fund, said:
“We are thrilled to be providing support to help charities and social enterprises get investment ready. We have already seen the difference the right tools and guidance can have on organisations seeking and securing social investment and this funding will help others build their capability, increase their social impact and become more sustainable.”
Since the fund opened over 800 organisations have used the diagnostic tool, with over 600 opting to take part in a 1-1 session. This has led to over £6 million of grants being awarded to 212 organisations.
If you are interested in applying to Big Potential, please visit www.bigpotential.org.uk and follow the instructions on how to apply. The programme will now end at the same time as its partner programme, Big Potential Advanced.