The new London Evening Standard £1m fundraising which asks Londoners to help combat poverty in the city will go towards funding small local groups.

The ‘Dispossessed’ fundraising campaign follows the Standard’s awareness-raising campaign five months ago to expose the poverty in the capital which was going largely unnoticed.

The Evening Standard readers’ money will be matched pound-for-pound by the Grassroots Grants programme, which is funded by the government and managed by the Community Development Foundation.

If successful, and with gift aid, the total value of the fund will be £3.5m.

Money raised will be distributed in funds to local volunteer-led charities with an annual income of less than £30,000. Community groups can apply now for grants valued at between £250 to £5,000 which must be used by end of March next year. Decisions on funding will be made by a panel led by Standard editor Geordie Grieg.

The campaign has received the backing of Prince William and Prime Minister David Cameron.

Grieg in an appeal to readers, said: “We want every Londoner to join our fundraising campaign to fight the inequality that blights our city.

“We are setting up our fund to help Londoners out of poverty with life – changing support and advice. Donate today and change lives.”

As the campaign is attempting to establish a permanent endowment, more details on grantmaking from the endowment will be released in October. 

To apply for funding, click here to access the Dispossessed website.