Selection Take time to check over the following key dates and selection process before applying.
The selection criteria for applicants are split into Mandatory of Preferred. Mandatory criteria must be clearly met for an organisation to be considered as an applicant. Preferred criteria require expert consideration after applications close on 18th February. Scoring against the Preferred criteria will form the basis of the ranking of enterprises, and selection for the final fifteen.
A Mandatory Criteria Applicants must be: 1. A legally constituted organisation such as, company limited by guarantee, CIC, co-operative, IPS, or company limited by shares (would require asset lock or some other structure which demonstrated social enterprise status). 2. Operating a scheme located anywhere in England. 3. Working in the homelessness sector – dealing with prevention of homelessness, moving people towards independent or stabilised living, or otherwise working to address this specific social challenge. 4. Seeking investment for a specific business case or enterprise aimed at addressing the root causes of homelessness or increasing people's move into independent or stabilised living. 5. Confident they have the systems and structures in placed such that they could receive, manage and be accountable for the use of a prize up to £200,000. 6. Operating, or wishing to operate - a social enterprise model with sustainable trading activities that create or are going to create surplus and profit to be reinvested. 7. Able to commit sufficient time and energy to gain the benefits from this programme. Time needs to be committed to getting investment-ready in March and April, then working with partners and mentors (if successful) beyond April.
B Preferred Criteria Applicants will be ranked based on assessment of their application, where they: 1. Articulate the business case for the enterprise, or project, for which they are seeking investment. 2. Demonstrate they have the capacity to deliver on this proposal. 3. Prove they can perform by showing good progress towards social and financial goals. 4. Clearly assess the finance required to achieve their proposed outcomes. 5. Show their proposal has the potential to scale, and how investment will catalyse growth in impact, and increase possibility of reaching larger number of beneficiaries. 6. Evidence they have made preparation for investment by pulling together the above information into a coherent 'story' for potential investors.
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