The City & Guilds Group today announces £7.5m of investment in its social purpose, following the creation of two new funds. The £5m Skills Development Fund will invest in social projects that help people and communities develop their skills and improve their prospects across the world. The New Venture Fund will invest an initial £2.5m in post-revenue companies and entrepreneurs to accelerate the growth of innovative education and training.
Group Chief Executive Chris Jones said: ‘Everything we do at the City & Guilds Group is about developing skills to fuel business and economic growth. These two new funds do that in a big way by unlocking opportunities to support global skills development.’
The Skills Development Fund will support projects and communities to create long-term, sustainable change by improving skills. Projects will be expected to deliver measurable and lasting benefits to the global education and training sector, employers and/or individuals.
Speaking about the Skills Development Fund, Group Corporate Relations Director Mikki Draggoo explains: ‘We often talk about how the City & Guilds Group is all about ‘making money to make a difference’ and that is exactly what this investment demonstrates. The Skills Development Fund will allow us to make a unique contribution and add value to initiatives that could be life-changing for people and transformative for communities across the world.’
The New Venture Fund, with initial funding of £2.5M, will seek to support innovation in the way skills education is delivered today by investing in growing companies and entrepreneurs. It will provide funding in return for an equity stake. Recipients will also benefit from the City & Guilds Group’s expertise and resources to help their ideas get off the ground.
John Yates, New Ventures Director at the City & Guilds Group, will be responsible for the £2.5m New Venture Fund. He said:
‘This Fund is all about supporting innovation and entrepreneurship by helping grow the businesses of entrepreneurs who are committed to skills development. We are particularly keen to hear from Founder-entrepreneurs across the world who are delivering education technology to support young people in their transition from education to employment, or in their pursuit of their next career step. For us, it is not just about providing money, but also support from across the City & Guilds Group to give successful recipients the best possible chance of success.’
Interested parties are encouraged to get in touch with expressions of interest:
Notes to editor
About the City & Guilds Group:
- The City & Guilds Group is a global leader in skills development. Its purpose is to enable people and organisations to develop their skills for personal and economic growth.
- Backed by a Royal Charter, the City & Guilds Group has more than 135 years’ worth of experience in making sure that people are prepared to contribute to successful businesses and thriving economies.
- The City & Guilds Group partners with more than 200 companies to develop the skilled workforces that they need, and invests in learning technologies to help people learn whenever and wherever they can.
- The City & Guilds Group is made up of City & Guilds, the Institute of Leadership & Management (ILM), City & Guilds Kineo and The Oxford Group:
- City & Guilds develops programmes of learning, learning technology, certification and assessment, to support colleges, training providers and governments.
- ILM helps individuals, education providers and businesses improve the standards of leadership and management through qualifications, accredited training and specialist member services. ILM awards qualifications to over 95,000 managers across the world every year.
- City & Guilds Kineo is a global workplace learning company. It offers a fresh approach to elearning management systems, apprenticeships and managed learning services.
- The Oxford Group provides bespoke management training, leadership development and executive coaching to the world's leading companies.
- Combined, the City & Guilds Group operates in over 80 countries, through 10,000 training centres, delivering qualifications in 26 different industries.
- For more information about the City & Guilds Group visit: www.cityandguilds.com.
The Skills Development Fund
- The new £5m fund will allocate money on a case-by-case basis, following proposals submitted on a quarterly basis.
- To receive funding, projects meet the following criteria:
- create long-term and sustainable change in the development of skills, measurable by clear outcomes
- allow the City & Guilds Group to make a unique contribution that adds value to the project
- deliver real benefit to the education and training sector, employers and/or individuals
- represent the communities in which the Group operates across the world
- adhere to clear and practical timescales.
- All funds will be awarded by a sub-committee of the City and Guilds of London Institute Trustee Board.
- The first set of proposals will be reviewed in December 2015
- Expressions of interest should be sent to email@example.com.
New Venture Fund
- The £2.5m New Venture fund will provide funding for post-revenue businesses and entrepreneurs in the education and training sector in return for equity stake in the companies.
- Entrepreneurs from across the world are encouraged to apply.
- Recipients will also benefit from City & Guilds Group expertise and resources, helping to develop of their ideas and propel the growth of their businesses
Expressions of interest should be sent to firstname.lastname@example.org