THE GOOD DEALS PIONEERS FUND
Calling inspirational social ventures looking for investment!
If you have a brilliant social venture that needs cash and support to get to the next level, then APPLY NOW to pitch for the Good Deals Pioneers Fund at Good Deals 2012.
In partnership with the Young Foundation Accelerator programme, the Good Deals Pioneers Fund will open the door to up to £50k of business support plus the chance of a major cash investment.
- A proportion of every delegate and sponsorship fee from Good Deals is being put into the Pioneers Fund pot – making every one of our delegates a 'social investor'.
- Pitch applicants will be shortlisted and three will then pitch their ideas to a live audience at the closing session of Good Deals.
- The winners – voted for by the audience, along with a panel of experts – will be considered for up to £50k of business support with the possibility of a major cash investment through the Young Foundation.
Application forms will be emailed to delegates who have indicated they would like to pitch. The closing date for applications is Friday 26 October.
HOW THE FUND WORKS
A proportion of all delegate, exhibitor and sponsors fees will be donated to form the basis of the fund. We won’t know how much this will be until the day of the event, but we will make some announcements in the run up to the conference as the fund grows.
We will not be expecting a return from the fund, however it will not be given as a grant – this would not be in the spirit of Good Deals. All social entrepreneurs pitching will be expected to propose a repayment structure. Despite, this we are not seeking or expecting a meaningful return. We are open-minded about the repayment terms and length – it could be a loan, mezzanine or equity.
Any return the investment does generate will be recycled to be used to finance other pitchers at future Good Deals events.
The Good Deals audience, with advice from our panel of experts, will decide who receives the investment. For each round of voting, the social entrepreneur with the lowest number of votes will be eliminated. This will continue until only one social entrepreneur remains. The final entrepreneur will receive the investment – and be invited on to the Young Foundation Accelerator programme 2013.
Following the close of Good Deals, the fund will then be handed to the Young Foundation to work with the selected entrepreneur to ensure investment readiness and to refine the investment structure. The crowd-fund will be unlocked to the entrepreneur when the Young Foundation are satisfied with the due diligence process.
As the winner of the fund will join the Young Foundation Accelerator programme 2013, social entrepreneurs must fit within their criteria. Social ventures will be selected who:
- Focus on changing lives for the better
- Target customer groups who are inadequately served
- Operate a robust, sustainable business model
- Have the potential to grow and broaden their social impact
- Are thinking about routes to financial independence
To receive our support, enterprises must be led by (ideally more than one) entrepreneur who:
- Displays vision and ambition
- Has a deep reservoir of staying power and commitment
- Knows the sector they are working in
- Is good at listening and open and honest about their abilities
- Is hungry for support, talks to everyone and builds networks
Visit the Accelerator website for more details or contact the Good Deals team for more details.