Tech for Good Challenge

The Tech for Good Challenge is looking to invest £500,000 together with mentoring, nurturing and support in 10 early stage tech social ventures that will significantly improve the life chances of young people
 
The scheme is looking for the next generation of social enterprises, charities and businesses in England, which employ the latest digital technologies that can radically transform young people’s lives.

The ventures should have already developed or launched a product or service, identified a potential market opportunity that can deliver both financial and social returns.

There are no repayments on the £50,000 loan for the first three years after which Big Issue Invest would have the option of either converting the loan into a 5% equity, or equity-like stake, or ask for repayment of the loan with an accrued interest rate of 5% p.a.
 
The Tech for Good challenge is a partnership between Big Issue Invest and Nominet Trust with support from five corporate partners: Bank of America Merrill Lynch, LDC, MITIE, Salesforce Foundation and Unity Trust Bank. The Challenge is also supported by The Big Lottery.

For further information, including how to apply by the deadline of 15 April, visit http://bigissueinvest-csv.com.