FAQs
Media
For all media inquiries, including, interviews or photos call Howard Platts 0116 2994466 or howard@sparkchallenge.org.uk
General
Q: What does ‘business case’ or ‘model’ mean?
A: By ‘business case’ we are referring to the opportunity that exists for you to provide your products or services. You need to mention the market that you are operating in and show that there are customers willing to consume and/or pay you for your products or services to meet a need/s.
If relevant, you should also detail how your service can compete with other organisations meeting the same need (on price, service, location etc).
‘Business model’ refers to how you intend to deliver and charge for the product or service. How many widgets will you sell at what price to make what profit, for example? And how will you reinvest that into the enterprise?
Q: How much time will we have to commit if we get onto the shortlist?
A: Spark will require a significant effort from one and, at times, two senior people working within your organisation. A detailed application submitted by February 9 will ease a little bit of the pressure, but investment readiness work will begin as soon as winners have been announced in March 16th. The first event will be an all day event on Monday 23rd March and a senior Director from each 15 organisation should be in attendance for the day.
Spark will take up approximately 11-15 days of your time over a nine month period (depending on what stage your social enterprise is in). The most intense time will be from Monday March 23rd to the beginning of June with will take up at least 8 days of your time to develop your investment and financial plans.
Submitting an application
Q: What are the entry and selection criteria?
A: The eligibility criteria and ‘what we are looking for’ can be found in the Application Guidelines. Read more about the criteria here.
Q: Is this open to charities?
A: Yes, as long as the charities’ application is geared towards engaging in some form of sustainable trading activity. This is a social enterprise competition and not a charitable grant fund. This competition and the prizes can be thought of as 'targeted investment' into organisations that will generate a profit or surplus, and use this to scale up their activities and increase their social impact.
Q: It seems to be targeted at social enterprises, what about private businesses?
A: If your organisation is a private business e.g. A company limited by shares, you can still enter. And, you will have to clearly explain why you are a social enterprise. That is, what structures or systems to have in place to show you are a profit-making organisation that is explicitly set up to tackle social or environmental challenges, and which reinvests the majority of its profits for the benefit of their community and beneficiaries.
Q: Are organisations from everywhere allowed to enter?
A: Everywhere in England. Unfortunately we can not accept applications from Wales, Scotland or the Isle of Mann.
Q: What activities do you include as “address the root causes of homelessness or increase people's move into independent living”?
A: You tell us.. We realise that there are many and complex causes and impacts associated with homelessness, and so are open to applications from organisations that are currently dealing or intend to deal with these root causes in innovative ways. Such interrelated causes/effects may include: long-term unemployment, lack of skills and work experience, domestic disputes, mental health, social exclusion, housing issues etc. We are also interested to receive applications from organisations that are reducing the risk of homelessness.
Q: I would like to talk to somebody at Spark about my social enterprise idea?
A: If you would like to talk to someone in the Spark team please call the office on 0207 770 6144.
Q: Is this competition open to start-ups? Do we have to be currently trading?
A: Yes, Spark is open to early-stage social enterprises. Early-stage organisations (under 12 months) will have to show evidence that they are able to deliver on their plans.
Q. If you were a Spark Winner last year can you apply again?
A: Organisations that have won small grants in 2008 will be encouraged to apply. You will need to clearly communicate this time around how you have moved on since last year, what lessons have you learnt and why is now an exciting time to invest.
Q: Is Spark open to homeless people?
A: Yes Spark is open to homeless people who are supported by a key worker. A separate application form and information will be available online form Wednesday 17 December.
Q: Is there support for charities who want to start an enterprising activity, but are not familiar with the terminology used in the application form?
A: Yes. You can email us with questions at info@sparkchallenge.org.uk and check back as these FAQs are expanded. Also, we will have consultants available in January to guide you through the process. You can see more about the application process and support here.
Q: Can I send supporting material?
A: At this stage please only send your completed application form and latest set of audited accounts.
Q: When is the deadline for entries?
A: Monday 9 February, 5pm
Q: I have questions about my eligibility and application. Who can I ask?
A: Please read this frequently asked questions page thoroughly. If you cannot find the answer here, please email info@sparkchallenge.org.uk.
Q: I don’t think our organisation is eligible; is there any way we can follow the project?
A: Please sign up for our monthly newsletter to learn more about how to build and grow a successful social enterprise.
Q: Will we be expected to invest in plans ourselves?
In some cases yes. In the spirit of enterprise you will be expected to share some of the risk if you can afford to do so. For instance, if you are asking for £100,000 and you have a parent charity or housing association that has sufficient funds in their balance sheet then the Spark panel may request to be “met half-way”.
Q: How much will the panel allocate as a top prize?
A: There is no such thing as a ‘top prize’; the Spark prize money will be shared among the finalists in the way the panel thinks will have the most impact in the sector. This will be judged in June 2009
Q. If I become a “Spark Winner” in March 2009 will I be guaranteed of winning at least some investment.
Yes every winning organisation will receive a grant of at least £5,000.
If you can't find the answer to your question here, please contact us. |
