Big Issue Invest (BII), the investment arm of the Big Issue Group (BIG), has opened applications for a new investment programme aimed at new and early-stage social enterprises in London.

The programme, Power Up London, will aim to support diverse-led, early-stage socially impactful organisations based in London, which are addressing social or environmental issues and providing services to underrepresented communities.

BII will deliver the programme with funding by the UK Shared Prosperity Fund (UKSPF), a central pillar of the Government’s levelling up agenda to invest in communities and support local businesses.

Successful applicants will receive a fully funded package of non-financial support valued at £10,000 that includes a mix of mentoring, business support, training workshops and networking opportunities delivered weekly over four months. Participants will also benefit from introductions to other founders in the cohort, mentors, and investors.

BII also revealed that upon successfully completing the programme, participants will have the opportunity to access a grant of up to £22,000 for their social enterprise, to be used for launching new products or services, expanding to new markets, or creating new jobs in their local communities.

Accelerator and investment manager of Big Issue Invest, Gretel Dixon, said: “Securing early-stage funding for social ventures is a challenging task. Through Power Up London, we will be able to provide much needed funding and wrap-around support to help them become financially sustainable and grow.

“We are excited to partner with the Greater London Authority in the delivery of this programme, and hope it will enable many social ventures to increase the impact they have in their communities.”

The year-long programme will be delivered in two cohorts, with up to 20 organisations per cohort. Cohort one is to run from 13 November 2023 to 1 March 2024, before cohort two will run from 15 April 2024 to 22 July 2024.

BII is now calling for applications from eligible organisations for cohort one before the closing date of Monday 23 October.

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