A long-list of 125 social businesses has been chosen for Deloitte’s Social Innovation Pioneers programme, designed to put the company's financial muscle behind socially enterprising UK businesses.
The accountancy firm received 330 applications to the initiative which aims to provide up to 50 socially innovative businesses from across the UK with a 12-month package of support designed to give them a boost towards realising their potential and becoming investor-ready.
It invited entries from “innovative businesses that have a clear and sustainable business model, the ambition to scale and can demonstrate sustained social and environmental impact”. The programme was open to small and medium-sized organisations with primary business operations based in the UK, a sustainable business model and the potential to grow.
The support package for the chosen business will comprise:
- A Deloitte support team, unique to each business, designed to create and manage its investment readiness plan.
- Invitation to a series of events and workshops, covering the following themes: Making connections, leadership, business skills, and finance and business planning.
- Meetings with senior Deloitte partners and client contacts.
- Opportunities to pitch for additional support.
- Input and access to research on the sector.
- Opportunity to be involved a two way partnership with Deloitte, including access to the company’s programme logo.
Winners of the Deloitte Social Innovation Pioneers will receive support from April 2012, and will join an alumni network after the year's support.
“We strongly believe in the potential of this sector to become an important and mainstream economic player,” said Deloitte CEO and senior partner David Sproul. “We want to be part of achieving that goal, share our experience with these emerging business leaders and in turn learn from their innovation and creativity.”
The long-listed applicants will now complete a more detailed application form providing details of the social impact intention of their business, profiles of the leadership team members, details of the business model, and the company’s accounts.
The third stage of the process will require applicants to pitch to a panel, on either the 19th or 20th March.
