On Internet Business

Support for Social Entrepreneurs

Posted by Michael under Entrepreneur Resources, Leadership

Social entrepreneurs are those rare people who aim to start a business that changes the world. In the past, these visionary individuals were largely mavericks unsupported by any formal structure or even by anybody outside their friends and family. Today they are recognised as leaders in commerce and leaders in social change.

What is UnLtd?

UnLtd was created in 2002 by seven major non-profit organisations to manage a £100 million investment in UK social entrepreneurs.

The organisation offers cash awards and practical support to develop community projects. It has established the largest network of social entrepreneurs in the world and invested around £40 million of financial and non-financial support in more than 16,000 individuals or informal groups.

Success stories

A major success for Unltd has been Pants to Poverty – fair-trade, organic underwear that is sustainably and fairly produced, but also designed to be fabulous to wear.

Similarly Wideaware is a social capital rich organisation, 100% disabled led, that helps businesses relate better to customers with disabilities. It was funded with an award that gave it time to establish itself and find the right people to create the organisational profile.

How can you get Unltd support?

The Unltd endowment supports people from diverse backgrounds, ethnicities and locations, but they all share the same characteristics:

• Vision
• Determination
• Passion
• Self motivation and self belief
• Flexibility
• Resourcefulness

There are two award levels:

Level 1: Awards of between £500 and £5,000
Level 2: Awards of up to £15,000

Level 1 Awards help make new ideas become reality by funding the  running costs of the project.

Level 2 Awards support people whose ideas are already developed or pay for the living expenses of Award Winners to help them devote more time to their projects. These Awards are given out twice yearly.

UnLtd only offers support to individuals, not organisations, but informal organisations, such as several people working together to create a new project, can be funded. There’s an online ‘quiz’ on the UnLtd site to find out if you’re eligible, and suitable.

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