North London based British DJMC Academy has been selected to be part of the Tech for Good Challenge programme – the search for England’s most innovative and disruptive early-stage ventures whose imaginative use of digital technology will have a profound impact on the future life chances of young people.
The British DJMC Academy is one of 14 teams selected for the next stage of the Challenge. They will now undergo a six-week intensive mentoring programme, receiving expert guidance from their assigned business mentor as well as access to a wide range of resources to support their growth. They must then submit a business plan by 27 June in order to progress to the final stage – the ‘Caterpillars’ Cocoon’ (the antithesis of ‘Dragons Den’) – where they will pitch to an investment panel. The ventures will have the opportunity to receive investment of up to £50,000, as well as ongoing support.
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, The MITIE Foundation, Salesforce Foundation and Unity Trust Bank. The Challenge is also supported by The Big Lottery Fund. These partners are providing investment and mentoring to fast track the development of the successful early-stage ventures. This is the first in a series of initiatives from The Big Issue Invest as part of their Corporate Social Venture Challenge.
“It has been great to see that so many organisations are using new digital technology to help improve the lives and aspirations of young people. It’s going to be fantastic to work with and support the organisations selected, in preparation for investment,” said Nigel Kershaw OBE, Chief Executive of Big Issue Invest.
Annika Small, Chief Executive, Nominet Trust added: “Digital technology can broaden young people’s horizons and improve their social and economic participation. This potential has been clearly identified through the diverse and imaginative applications our Tech for Good challenge has attracted. The short-listed organisations now have a fantastic opportunity to develop their ideas with expert advice and guidance from our panel of business experts and we look forward to seeing how the applications evolve at the investment panel.
About Big Issue Invest (BII)
Big Issues Invest is the social investment arm of The Big Issue, with the mission to dismantle poverty and inequality by investing in business solutions to social and environmental challenges.
Big Issue Invest help scale up social enterprises and charities throughout the UK by providing loans and investments from £50,000 to £1m.
Big Issue Invest is led by social entrepreneurs and experienced social financiers who have firsthand experience of building and running social businesses in both good and difficult times. www.bigissueinvest.com
About Nominet Trust
Nominet Trust believes that the use of technology can transform how we address big social challenges so we bring together, invest in and support people to do just this.
Nominet Trust offers the space for social entrepreneurs to test, develop and scale their products and services supported by funding, expertise and access to networks. In less than two years, Nominet Trust has invested more than £12 million in enterprises that use technology as the basis for social innovation. www.nominettrust.org.uk