The Inclusive Recovery Fund, a £4.75m fund to help social entrepreneurs in England, has launched. The new fund is designed to help social entrepreneurs deliver their important services and even grow their impact while adapting to the challenges presented by the Coronavirus crisis.
The fund will offer grants between £10,000 and £500,000 to asset or mission-locked ventures across England. It seeks ventures with ideas to accelerate their growth, build resilience and create a deep and lasting impact.
In recognition of the pandemic’s disproportionate impact on these communities, UnLtd particularly encourages applications from social entrepreneurs who identify as Black, Asian or from a minority ethnic background, and disabled people. UnLtd aims for 50% of the funding to reach these typically underrepresented groups. It aims in particular to support those with direct experience of the social problems they are seeking to address, known as leaders with lived experience.
The fund is a partnership between UnLtd, the foundation for social entrepreneurs, and Comic Relief, announced earlier in the autumn as part of a £10 million matched funding bid.
UnLtd Chief Executive Mark Norbury said: “Like all of us, social entrepreneurs have weathered unprecedented challenges over the past six months. They have shown great resilience and innovation. They have been at the front line supporting their communities, and are testing new ways to grow their impact. But they want to do more. This is why we have launched the Inclusive Recovery Fund. It is not an emergency support fund. It is a way to help social entrepreneurs as they contribute to the UK’s recovery and tackle the challenges that this pandemic has exacerbated. Whether it’s tackling racism or rising unemployment, social entrepreneurs have meaningful solutions rooted in their own lived experience. These solutions need funding to adapt and thrive. If this sounds like you, we want to hear from you.”