Loans and other investments are available for social enterprises that are innovating within the community care space and looking to develop or scale up means of solving community problems for people with cancer and other long-term illness in the UK.
Loans and other investment of between £500,000 and £2.4 million are available.
By working with the Fund, social enterprises will have access to:
- Analytical support to develop a fully costed and evidence-based model.
- Financial investment to support development and growth.
- Business advisory support and mentoring.
The Care and Wellbeing Fund is a £12 million investment fund (with £6 million from Macmillan Cancer Support and £6 million from Big Society Capital) that will run from 2015 to 2025. The Fund’s objective is to improve health and wellbeing in the UK with particular focus on people living with cancer and disadvantaged groups such as those with a long-term health condition.
The fund will look to invest in community based provision, integrated health and social care services, and prevention and wellbeing approaches. It seeks to drive greater social impact by improving the health and care outcomes for vulnerable groups, increasing the quality and access to services and developing financially robust models for charities and social enterprises.
The majority of investments will be made into service redesign projects, developed alongside health commissioners.
Social Finance, a leading not-for-profit, social investment intermediary, will act as the Fund Manager and the Health Foundation as the Development Partner.
Social enterprises that are delivering health and social care services in the UK can apply.
To be eligible, social enterprises must:
- Be operating either as CICs or limited companies.
- Have adequate safeguards to protect the identified social mission.
- Reinvest the majority of their profits in order to further pursue their social mission.
The Fund is looking to invest in projects that meet the following criteria:
- Community focus - community based health and social care services, from prevention to clinical services.
- Link to cancer - projects supporting people affected by cancer or generating learning that can benefit people affected by cancer.
- Financial criteria - Projects of between £500,000 and £2.4 million with the potential to repay capital with a financial surplus.
Projects must meet at least three of the Fund's target social impact outcomes, including at least one from each of the following groups:
- Direct impact:
- Improved health and wellbeing.
- Reduced health and economic inequalities.
- Greater independence and dignity.
- Co-created with service users.
- Indirect impact:
- Replicable approach.
- Building capacity of local health and social care system.
- Improving financial sustainability of health and social care.
There are no deadlines. Applications will be accepted at any time during the 10 years (2015-2025) that the fund operates.
The Care and Wellbeing Fund does not operate a formal application process or set rounds for applications. Organisations that believe they share the Fund’s ambitions should send an email to firstname.lastname@example.org.