Four charities shortlisted in DWP £30m Innovation Fund

Finance | Vibeka Mair | 25 Nov 2011

Social Finance, the Social Investment Business, Social Enterprise London and one charity that is a prime contractor on the Work Programme, have been shortlisted to pilot new delivery models within the Department for Work and Pensions £30m Innovation Fund.

On 12 May, ministers announced a series of measures to help address youth unemployment. These included a new £30m three-year 'Innovation Fund' to test new delivery models to support the most disadvantaged jobseekers.

Four out of the 24 organisations shortlisted to test new models are registered charities, including Rehab Group, one of only two charitable organisations on the Work Programme which are prime contractors.

Also the Private Equity Foundation, which is the first organisation to get funding from Big Society Capital through the interim committee, has one project shortlisted.

Other social organisations who could win funding are Triodos Bank, Social Investment Business, and Social Finance, which has thirteen pilot projects shortlisted amongst the 38 multiple bids from organisations.

Speaking yesterday at the Good Deals conference, CEO of Social Finance David Hutchinson said one of the bids is looking at how the government could procure social impact bonds through the Work Programme.

A number of charities had expressed interest to attend initial application events for the Fund, including RNIB, the Young Foundation, Tomorrow’s People, the Prince’s Trust, the Salvation Army, the National Autistic Society and some local YMCA branches. To see the full list of nearly 500 organisations who had expressed interest click here.

Please note that on Friday we said the only two charities which are prime contractors on the Work Programme have been shortlisted, naming them as Rehab Group and the Wise Group. This is incorrect, only one charity prime is shorlisted - Rehab Group. Wise Group is not a prime on the Work Programme. The only other charity prime contractor is the Careers Development Group.

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