Coventry’s community interest initiative offering up to £10k to locals looking to solve a social challenge

Coventry University’s community focussed subsidiary CU Social Enterprise CIC is offering up to £10,000 to help local people develop business ideas to tackle social issues in the city.

The Coventry Social Impact Challenge 2018 is being run to encourage the growth of new, not-for-profit and socially beneficial business ventures. The competition is open to anyone from Coventry with an idea to solve a social challenge, including staff and students from the university.

Those interested will need to complete an online application form by Wednesday 28 February, outlining the social challenge they wish tackle and how their business will go about this.

The competition judging panel will then assess the applications and draw up a list of six entrants to help develop their business plans further. The best three will then go forward to pitch their proposals to a panel of social enterprise professionals. If successful, the winner could receive up to £10,000 to set up their business but the prize money could be shared depending on the quality of the submissions.

CU Social Enterprise ran a similar competition last year, which helped kick start two new local ventures: SpringAction, a cleaning company run by Coventry Refugee and Migrant Centre; and Mum’s Kitchen, a local catering company employing marginalised women and victims of domestic abuse from Coventry’s BME community.

Online entries to the Coventry Social Impact Challenge 2018 are open until close of play on Wednesday 28 February.