Big Issue Invest has opened applications for £500,000 worth of investment for 12 social ventures in Scotland.
Power Up Scotland was launched four years ago by the Big Issue’s social investment arm and has supported 19 social ventures to date.
Its latest funding round is offering £500,000 of investment and is open for applications until 17 September.
Charities, social enterprises as well as businesses creating social value can apply.
“We are really excited about this year’s Power Up Scotland programme,” said Big Issue Invest chief executive Danyal Sattar.
“It’s a tough job starting up a social venture and early-stage finance is hard to get.
“We are so pleased, working with our brilliant partners in Scotland, to be able to support those organisations with the investment and business development expertise that they need in order to make an even greater difference within their communities in a post-Covid world.”
See how we can help your business get to the next level - applications are now open for our 2021 programme. Link— Big Issue Invest (@BigIssueInvest) August 2, 2021
@abrdn_plc @EdinburghUni @scotgov @placesforpeople @Experian and @BrodiesLLP#MondayMotivation pic.twitter.com/UdMiBFcCPF
Funding can be used for buying equipment, hiring talent or progressing with business development plans, said Big Issue Invest.
“The programme has been designed for early-stage social ventures, regardless of company structure - social enterprises, charities, and private enterprises are all welcome, with social value creation being the key criterion. The expectation is that many applicants will be accessing finance for the first time,” it added.
Power Up Scotland is funded by abrdn, University of Edinburgh, Experian, Places for People and the Scottish Government.