A massive £1.3 million in potential funding is on offer to charities seeking to reduce the current rates of re-offending. Impetus Trust, http://www.impetus.org.uk/ the venture philanthropy pioneer that applies commercial funding and business techniques to the world of charity, is looking to invest in six organisations.
The application deadline is just two weeks away but successful applicants will each receive £200,000 to £350,000 in unrestricted funding over a number of years. The expertise of Impetus investment directors and other senior professionals should dramatically increase the number of people that can be helped.
Impetus Chief Executive Daniela Barone Soares (pictured) had a fifteen-year career in private equity and venture capital with BancBoston Capital before joining the trust in June 2006. She says the use of her City skills has helped dramatically increase the impact of charities such as St Giles Trust, BlueSky and Speaking Up.
Barone Soares says: ‘We have seen from experience that our combination of strategic funding and management skills from the business sector is having a very powerful impact on equipping organisations in the charity sector to deliver.’
She adds: ‘From the age of twelve I have been involved in volunteering in orphanages, children’s homes and elderly homes. As I got older I felt my business skills were more and more relevant and were making more and more of a difference. I’m really passionate about the power of well-directed skills and well-directed wealth, and I think that the approach that we use could be really valuable in helping reduce re-offending rates.
Re-offending is one of the most challenging social problems we face. We’re looking for charities and social enterprises that have developed and tested innovative solutions to the problem of re-offending and that have ambitions to transform their impact. We need to invest in some new ideas that help break the cycle of re-offending.’
Application forms for organisations seeking support are available on the Impetus website (http://www.impetus.org.uk) and should be returned by 15 September.
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