Launch a business with a social impact – West Midlands Opportunity

The Opportunity Fund pilot is a partnership between the Paul Hamlyn Foundation and the Blagrave Trust to directly support 8 young entrepreneurs. The program will run for 18 months from May 2021 to October 2022.

Any young people who are selected to take part in the project will receive £1000 towards project costs and an additional monthly payment of £651. This may be spent by participants on anything that will help them make progress with their chosen personal and social impact, including living costs.

The criteria for applying for the program are:

  • Aged between 18 and 25 years.

  • Running or in the process of setting up a social enterprise or a business which also seeks to bring about a positive social impact.

  • Able to deliver part of your business virtually/online.

  • Facing challenges either socially or economically (we can discuss this with you).

ALL SUPPORT AND TRAINING WILL BE DELIVERED VIA ZOOM IN THE FIRST INSTANCE.

The business support will be essential for your business success so we ask you to commit to:

  • Attending 10 training sessions in the first month of the programme as part of a ‘business bootcamp’ approach. The training will cover topics including social media for business, financial planning, market research, e-commerce, legal contracts and web-development.

  • Fortnightly support meetings via Zoom with your business support manager (this will be reviewed as the project progresses).

  • A bi-monthly group work session via Zoom with other participants on the programme.

  • Periodical meetings with the funders of the project (dates to be confirmed).

  • Complete evaluation forms every 6 weeks.

Our commitment to you during the program will be:

  • One to one business and pastoral support.

  • Access to a business mentor.

  • Monthly payment of £651 to help with costs (including cost of living).

  • £1000 to invest in your business.

  • Access to any additional training and networking opportunities offered by Launch It.

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