Fund performance
Eight charities and social enterprises have won investments and contracts worth 35 million, thanks to a world-leading business support fund managed by the Social Investment Business and funded by the Cabinet Office, reveals a report released today.
The 10 million Investment and Contract Readiness Fund (ICRF) is the world s first fund dedicated to helping charities and social enterprises acquire the skills they need to raise investment and compete for public service contracts, and it has already made a significant and positive impact , according to the independent review by The Boston Consulting Group (BCG).
The development of the social sector has been held back because many charities and social enterprises lack the skills or experience to successfully raise investment or compete for public sector contracts. Many have also been unable or unwilling to pay for specialist support and there has been a limited market of organisations offering these services.
The BCG report, Ready, Willing and Able, An interim review of the Investment and Contract Readiness Fund found that the ICRF had already had a significant and positive impact against these obstacles:
- The nearly 35 million of investment raised and contracts won with support of the ICRF was impressive and in line with expectations;
- Ventures reported significant increases in their skills and knowledge and 70% thought they would need less help in the future;
- The ICRF had grown the market in providing business support services to charities and social enterprises, and ventures were starting to become more willing to pay for them as they became aware of the benefits they could bring.
Interested in how our providers are doing?
See a more detailed analysis of the performance of each our the ICRF approved providers. Our providers provide advice and business services to social ventures looking to take raise at least 500,000 or win a 1 million contract. This includes legal, corporate finance, bid writing and much more.