Arc, an Omnicom company I am involved with as part of PHD, is helping out on a project that I’d like to spread the word about.
Big Issue Invest is the social investment arm of Big Issue, looking to fund challenges that solve social and environmental problems. They are currently running the Tech For Good Challenge as part of their Corporate Social Venturing programme, where they are looking to invest £500,000 along with providing mentoring and support to 10 early-stage social technology ventures that will significantly improve the lives of young people.
The ventures would have already developed or launched a product or service, and identified a potential market opportunity that can deliver both financial and social returns.
There are no repayments on the £50,000 loan for the first three years after which Big Issue Invest would have the option of either converting the loan into a 5% equity, or equity-like stake, or ask for repayment of the loan with an accrued interest rate of 5% p.a.
If you are an organisation that fits this description, or if you know someone who is, do consider applying. The deadline is 15th April 2013, next week.