Thanks to the investment, Ultra Education aims to expand its reach to an additional 900 young people over the next 12 months and increase the number of young people receiving mentorship support from 14 to 37 in 2024.
The Growth Impact Fund is dedicated to fostering social change through strategic investments in social purpose organisations traditionally underserved by the investment market. By partnering with organisations that address critical social issues, GIF aims to create a more equitable and inclusive society.
Sarah Faber, Investment Director at Big Issue Invest, said: “The Growth Impact Fund has been committed to social justice for a number of years, and through these investments we can positively impact the lives of millions of people across the country. Social Purpose Organisations such as these are the fabric of our society, and we’re beyond thrilled to provide them with the investment they need to scale their impact.”
MORE INFORMATION ON INVESTEES
PATCHWORK HUB
Statistics from the disability charity Scope suggest that 23% of working age adults are disabled. Since the pandemic, the number of people not working in the UK due to long term sickness or disability has risen by almost half a million to a record high of 2.6 million. GIF has invested £250,000 in Patchwork Hub, an end-to-end solution for employers who want to improve their approaches to accessibility and disability inclusion, to help address this. Founded by Beth Kume-Holland, Patchwork Hub’s employment platform and wider employer services aim to break down accessibility barriers in recruitment and the workplace and close the disability employment gap.
Patchwork Hub is an accessible employment platform and provider of training and consultancy services. The platform enables a ‘hidden talent pool’, from disabled people through to carers and parents, to find work and thrive. Alongside helping employers to attract skilled talent, the organisation support employers in all aspects of disability inclusion, from attraction to recruitment and retention of staff. This effectively supports ED&I and CSR policies, while also helping employers to realise the business benefits of inclusive practices and become recognised as Disability Confident employers.
Founded by Beth Kume-Holland, who was inspired by her personal experiences with disability, Patchwork Hub aims to eliminate barriers in the job market. She commented: “I started Patchwork Hub because of my own experiences of living and working with a disability. So often, I’ve had to step back from opportunities I’d fought so hard for (or been excluded from entirely) because of completely needless barriers in ‘the way things are done.’ And I’m determined to change that for others.”
Kume-Holland added, “This investment and support from the Growth Impact Fund will be transformational, enabling us to scale up our impact and growth with a truly aligned partner.”
ULTRA EDUCATION
Ultra Education has received £300,000 in investment from the Fund. The organisation uses entrepreneurship to inspire positive and lasting change in the lives of young people, particularly those from underrepresented communities, including those facing disadvantages due to low socio-economic backgrounds or being racialised.
Through this investment, Ultra Education aims to expand its reach to an additional 900 young people over the next 12 months and increase the number of young people receiving mentorship support from 14 to 37 in 2024.
Julian Hall, Founder of Ultra Education, said: “Being exposed to entrepreneurship as a teenager really boosted my confidence. It gave me a set of skills which allowed me to become more employable and run a number of successful enterprises and projects. I believe that children and young people from all backgrounds should have access to effective entrepreneurship education and we at Ultra Education are dedicated to that mission.”
KALDA
A study by Stonewall in 2018 found that one in eight LGBTQ+ people aged 18 to 24 (13%) had attempted to end their life in the year prior and that one in two of LGBT people (52%) said they’ve experienced depression in the last year. The lack of access to mental health support for young people in the UK is well documented. For LGBTQ+ individuals, however, the additional fear of discrimination creates an even greater barrier, with one in four LGBTQ+ people aged 18 to 24 (26%) avoiding seeking help altogether. To tackle the crisis in mental health provision for the LGBTQ+ community, the Fund has invested £300K in Kalda, a mental health app that provides sexuality and gender affirming therapy for LGBTQ+ individuals.
Kalda courses are designed by LGBTQ+ neuroscientists and therapists and filmed with members in the community with relevant lived experience.
Co-founder Daniel Botcherby said, “We are seeing more representation in the world now, but we have a lack of clinicians and professionals with the relevant lived experiences to support everyone. Kalda gives us the opportunity to infuse the voices of the community into our support tools and empower the community with a queer toolkit to support and manage our mental health with.”
Kalda member Milly wrote: “It actually gives me hope for the future.” And initial validation tests show that users benefit from using the product, with health evaluation data showing up to 65% reductions in anxiety and depression. By 2025, Kalda aims to provide 100 LGBTQ+ specific therapy courses and support over 200,000 people across the LGBTQ+ community in five English speaking territories and this investment will help them reach this goal.
Social enterprises interested in the Growth Impact Fund can visit growthimpactfund.org.uk to learn more and register their interest or email enquiriesGIF@bigissueinvest.com.
