UK: government to pay for good ideas

The Office of the Third Sector is offering limited funding to organisations with strong ideas on how to pull private investment into social enterprises for start-up and growth. Three organisations can win funding of up to £100,000 (140,000 euro) each to pilot proposals to incentivise greater private investment in the sector. The aim of the scheme is to promote innovative approaches to social investment and to increase understanding of the current barriers that exist to investment from the private sector. Ed Miliband, Minister for the Third Sector, said: ?Social entrepreneurs around the country combine a driving commitment to social justice with acute business acumen and their innovation should be given every opportunity to succeed. ?By funding these pilots we are encouraging an increase in the range of sources of finance for social enterprises. We are helping build new opportunities for investors and social enterprises to collaborate.? To win funding, proposals will need to show precisely how a new structure ? or an expanded existing scheme ? can facilitate or broker private investment into social enterprises. The funding will be provided in order to pilot proposals for up to 18 months, at the end of which the organisation compiles a report on lessons learnt during the project. www.cabinetoffice.gov.uk/thirdsector/