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New investment fund for social enterprises

20 August 2007

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The government has today announced the opening of a £73m social enterprise investment fund for health and social care services that benefit the community.

Care Services Minister Ivan Lewis has launched the fund, to be spread over four years, for social enterprises who need help “turning their innovative ideas into reality” and to “make a real difference to the communities they serve.”

He adds: “Social enterprise has a strong track record of revolutionising services in other sectors and has the potential to transform the way services are delivered in health and social care.

“The Social Enterprise Investment Fund demonstrates our commitment to supporting social enterprise in health and social care.”

Jonathon Bland, Chief Executive of the Social Enterprise Coalition, welcomes the fund saying: “This hard-to-come-by capital will help social enterprises in health and care continue to engage and enpower both staff and patients in order to deliver improved services.”

A total of £1.4m will be invested in a social enterprise “path finder” scheme this year.

Department of Health