Deadline: 07-Apr-2024
Impetus- Private Equity Foundation is accepting applications from organisations supporting young people to prepare for and find work, with a particular focus on young people from ethnic minority backgrounds.
Connect Fund
- The Impetus Connect Fund was set up to partner with charities that support young people from ethnic minority and socio-economically disadvantaged backgrounds into employment.
- They know that young people from disadvantaged backgrounds are twice as likely as their better off peers to be not in education, employment, or training (NEET). There is also clear data showing that young people from ethnic minority backgrounds are disproportionately impacted by unemployment, in particular young people from Bangladeshi, Pakistani, and Black communities.
- They currently have six fantastic organisations within their Connect Fund, and they are looking for up to three more to join.
- A note on language: In the Connect Fund, they are particularly interested in working with organisations that serve young people from Bangladeshi, Pakistani and Black communities, because the data shows these groups are facing the most significant barriers to employment.
- However, they are not exclusively focused on these groups, so they will often refer to “young people from ethnic minority backgrounds” more generally. They recognise that language is important, and that others use terms such as “global majority”, “racialised communities”, or “communities experiencing racial inequity”, each with specific and important nuance. In the interests of using language that is familiar and widely understood by potential applicants and broader stakeholders, they have decided to use “ethnic minority backgrounds”, but they acknowledge this is not perfect.
Benefits
- Successful organisations will receive:
- £100k in unrestricted grant funding per year, for two years (with potential to continue thereafter)
- Expertise, coaching and capacity-building support from their Investment team
- Access to their peer learning forums, a chance to network with and learn from other portfolio charities and their senior teams
- Access to sector-based coalitions to influence policy and the national conversation on the issues faced by the young people you serve
- Access to their world-class pro-bono network of specialist advisers including PwC and Bain
- Access to further grants through co-investment with their network of donors
They are looking for organisations that:
- Support young people to find work or develop work related skills
- Primarily work with young people from ethnic minority and socio-economically disadvantaged backgrounds
Eligibility Criteria
- Applicants must meet all of the following eligibility criteria in order to receive an application form:
- Be a UK-registered charity or social enterprise (see FAQs for detail on exceptions)
- Deliver all or most of your work within England and Wales
- Young people (aged 14-25) from socio-economically disadvantaged backgrounds must make up >50% of the young people you serve
- Young people from ethnic minority backgrounds must make up >50% of the young people you serve
- You must have at least 5 members of staff
- You must deliver a programme/intervention that targets employment or employment-related outcomes for the young people you work with
- You must have achieved at least break-even in two of the past three years, OR you must hold at least two months of operating costs in your reserves
For more information, visit Impetus.