Big Issue Invest, the social investment arm of the Big Issue, has today announced a £500,000 investment pot for ten early-stage social organisations.

It is part of the second stage of Big Issue Invest’s Corporate Social Venturing Challenge programme, which partners with corporate organisations to invest in, support and nurture early-stage social organisations to help them deliver sustainable social and financial returns.

To be considered for investment, ventures must demonstrate high social impact, have a track record and ambitious development plan, working in the fields of health, education, wellbeing, homelessness or the creative industries. Charities, social enterprises, public sector spin-outs and businesses with a social mission can apply. A spokeswoman said: "The investment is up to £50,000, no repayment is required for three years with interest accruing a 5 per cent per year. At the three year point an agreement with the venture regarding repayment terms will be made."

Nigel Kershaw, CEO of Big Issue Invest and chair of Big Issue, said: “The Corporate Social Venturing programme is core to the Big Issue’s mission. We don’t want people ending up on the streets and that’s why we’re investing in brilliant social ventures that create jobs, training, accommodation and wellbeing. It’s all about prevention.
 
“The relationship we have with our corporate partners is not some fly-by-night 'social wash' – it’s for real. They are putting in their own money and time to nurture these social ventures in the long term.”

The initiative is a partnership between Big Issue Invest and Barclays, with investment and support from five partners: Experian, First Ark, Fusion21, Places for People, and the University of Northampton. The Challenge is also supported by the Cabinet Office, as part of the £10m Social Investment Fund.

Deadline for applications is Monday 19 May.