The New Venture Fund, with initial funding of £2.5M, will seek to support innovation in the way skills education is delivered today by investing in growing companies and entrepreneursThe City & Guilds Group today announces the creation of its New Venture Fund, which will invest an initial £2.5m in post-revenue companies and entrepreneurs to accelerate the growth of innovative education and training. It’s forms part of an overall £7.5m investment in its social purpose.
The New Venture Fund, with initial funding of £2.5M, will seek to support innovation in the way skills education is delivered today by investing in growing companies and entrepreneurs. It will provide funding in return for an equity stake. Recipients will also benefit from the City & Guilds Group’s expertise and resources to help their ideas get off the ground.
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John Yates, New Ventures Director at the City & Guilds Group, will be responsible for the £2.5m New Venture Fund. He said:
This Fund is all about supporting innovation and entrepreneurship by helping grow the businesses of entrepreneurs who are committed to skills development.
We are particularly keen to hear from Founder-entrepreneurs across the world who are delivering education technology to support young people in their transition from education to employment, or in their pursuit of their next career step.
For us, it is not just about providing money, but also support from across the City & Guilds Group to give successful recipients the best possible chance of success.
The remaining £5m will be used to create a Skills Development Fund for social projects to help people and communities develop their skills and improve their prospects across the world. The Skills Development Fund will support projects and communities to create long-term, sustainable change by improving skills.
Projects will be expected to deliver measurable and lasting benefits to the global education and training sector, employers and/or individuals.
Group Chief Executive Chris Jones said:
Everything we do at the City & Guilds Group is about developing skills to fuel business and economic growth. These two new funds do that in a big way by unlocking opportunities to support global skills development.
Interested parties are encouraged to get in touch with expressions of interest:
- For the New Venture Fund, email: yates@cityandguilds.com
- For the Skills Development Fund, email: sustainability@cityandguilds.com
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