Daria Kuznetsova, Strategy and Market Development Director, Big Society Capital
The Investment and Contract Readiness Fund was a programme set up in 2013 to enable promising charities and social enterprises compete for public service contracts and secure other forms of investment. Organisations can get advice on business planning, modelling, bid writing or impact measurement. To date ICRF has spent £13.2m and supported 155 ventures, both small and large. Half the ventures supported by ICRF successfully secured at least one contract or investment as a result of the support they received with the total value of contracts and investment raised through the support being £233m. One example is FCMS which is a social enterprise providing urgent health and wellbeing services. Through the ICRF programme they received financial modelling and HR advice which was instrumental to securing a £9m bid.
So what is the relevance to the VCSE review tasked with exploring how the sector can build sustainability and capacity whilst maximising and demonstrating its impact? Continue reading