Second round of Impact Readiness Fund open

The Government has announced £1.5m in funding for a second round of the Impact Readiness Fund.

The first IRF round, worth £2m and launched in October 2014, supported 51 social enterprises. The second round of the IRF will make grants of between £25,000 and £100,000 available.

Social Investment Business manages the fund. Grants aim to help ventures build the infrastructure and skills required to manage their performance, increase their social impact, and attract social investment or win contracts.

Jonathan Jenkins, chief executive of Social Investment Business, said the IRF was heavily oversubscribed so its reopening is welcome.

“Effectively demonstrating social impact is more important than ever and many social ventures need support to build in systems or develop new skills. Funders, investors and commissioners are increasingly focused on outcomes and impact so support for this vital work needs to continue.”

Applications for funding are invited until 8 January. For more information and to apply, click here.

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