The first round of funding from the £10m Innovation in Giving Fund from the Cabinet Office and Nesta has been announced.

The first organisations to receive funding includes Buzzbnk, an online crowd-funding platform supporting charities and social enterprises, which has been awarded a £50,000 investment to enable full mobile capability for the platform.

Geoff Mulgan, chief executive of Nesta, said: "The broad range of ideas we have seen are testament to the imagination and motivation of people to harness new technologies to drive giving, volunteering and sharing."

The Innovation in Giving Fund was designed to support innovations that have the potential to deliver a significant increase in the giving and exchange of time, assets, skills, resources and money to achieve social goals and public benefit. It is being administered by Nesta on behalf of the Cabinet Office.

Fifteen organisations, including charities, social enterprises and for-profit businesses with a social mission, are included in the first funding round, totalling £1.38m. They have received grants worth between £47,000 and £150,000.

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