The Department of Health is holding a Social Enterprise Investment Fund (SEIF) of £100 million over a four year period (£63 million capital and £27 million revenue from 2008/09 to 2010/11) for social enterprises delivering health and social care services.
Eligibility
- Multi-agency partnerships, particularly voluntary and community groups wishing to use their expertise to provide services across health and social care.
- Existing social enterprises looking to expand into health and social care.
- Groups of professionals (eg nurses, therapists), seeking to form a social enterprise to deliver their services.
- All the social enterprises supported would be expected to have “not-for-profit” status, in that surpluses will be reinvested in the pursuit of their social aims.
What For?
The objectives of the Social Enterprise Investment Fund are:
- To support the delivery by social enterprises of health and/or social care services and products in England.
- To provide start-up funding and longer-term investment to emerging and existing social enterprises in the health and/or social care sector with a view to their sustainability.
- While still encouraging social returns and stimulating the delivery of health and social care by social enterprises, a further longer term, objective is to become financially sustainable through returns on non-grant investments and through leverage of funds from external investors. SEIF will look to make progress toward financial sustainability by the end of the initial fund period.
SEIF can offer:
- Step1 finance: development grants of up to £20 000 to cover start up costs such as business planning, legal advice and market research
- Step2 finance: loans, loan guarantees, grants and equity capital or a mixture of these, depending on your organisational needs and structure. For grant/loan mixes, the grant proportion will be approximately 10% of the total funded by SEIF
- the chance to learn how to assess the social outcomes of your work using a process to measure Social Return on Investment (SROI)
How Much?
Maximum any one investment of £10,000,000
In 2008/09, they are making a further £11 million capital and £6 million revenue funding available to new and existing social enterprises.
Deadline
Application forms and all accompanying documents must be received by 17.00 on 31st July 2008.
More Information
http://www.dh.gov.uk/en/Managingyourorganisation/Commissioning/Socialenterprise/DH_073426
Filed under: Funding | Tagged: DoH, Social Enterprise
