Welcome to the Social Enterprise £50k Challenge!
Are you an established social enterprise based in Devon or Cornwall looking to grow and increase your impact? This is your chance to pitch your plans to funders who are keen to invest in great ideas.
We invite you to apply with your business growth idea on the form below. The best five ideas – in the view of the judging panel – will be invited to pitch to funders from Santander, Unity Bank and Gandy’s Flip Flop on Friday 27th September 2013 at Devonport Guildhall in Plymouth. Over the summer, shortlisted candidates will be given support to prepare their business plans and presentations, kindly provided by Francis Clark Chartered Accountants.
Each funder has up to £50,000 to invest in ideas that impress them – so the challenge is on… and it’s over to you!
What are we looking for?
The south west is a vibrant place to start and run a social enterprise. Our panel of funders are looking for organisations that understand the needs of their markets, know how to make a difference in their communities, and require finance to grow.
What to do next…
- Complete the form giving an overview of your business, investment required, and how its growth will create social / environmental impact.
- Return to form by email to: firstname.lastname@example.org or by post to: Sue Hensman, Peninsula Enterprise, 11 Research Way, Derriford, Plymouth PL6 8BT. Applications must be received by 5pm on Friday 26th July 2013.
- Up to five shortlisted candidates will be selected by the judging panel, which includes representatives from Plymouth University, Plymouth Social Enterprise Network and Peninsula Enterprise. Those selected will be notified by Friday 2nd August 2013.
- Francis Clark will contact shortlisted organisations to provide advice and guidance on preparing business plans and presentations to the funders, by Friday 9th August 2013.
- On Friday 27th September, each shortlisted social enterprise will be allocated 15 minutes to present and up to 30 minutes for questions and discussions with the funders.
To be eligible for the investment, you must be an established organisation and derive at least 50% of your income from trading activities. Your legal status (i.e. incorporation details, CIC structure, etc) should confirm your activities and social purpose.
The funders reserve the right not to invest in any proposals if they do meet the challenge criteria. Agreed investments will need to go through the appropriate due diligence required by the funders before proceeding.