We are delighted to announce that Santander has now distributed almost £400k through Changemaker – a fund intended to support social innovation in communities nationwide.
Working with Crowdfunder.co.uk to distribute the fund, projects that demonstrate proven public support have received match fund pledges alongside money raised from the Crowd, enabling them to create positive social impact in their local area.
Projects to have benefited so far include Access Aspiration, GoCode Academy, Goldfinger Factory and 55 East, all receiving a match fund pledge of £10,000. Successful projects to receive pledges are already delivering incredible levels of impact upon their communities.
Dirk from 55 East said, “Crowdfunding meant that we could get 55 East off the ground, and we are now running a cafe and event space. We’re still working on opening our co-working space for 20 people, which will act as as a satellite hub where training will be offered for over 60 entrepreneurs each year. We have already started to bring people together to nurture ideas for the local area and have held a social enterprise programme on site. The match fund pledge from Santander Changemaker also enabled us to provide employment to a young barista after they completed their Change Please training programme.”
Zuzanna from Access Aspiration said, “Access Aspiration helps students to figure out what sort of work they might like to do by providing activities including careers fairs and industry insight days and then further support to get into their chosen field. In October 2016, helped by a £10,000 grant from the Santander Changemaker and money raised by the Crowd, we exceeded our goal of raising the £20,000 needed to begin supporting a new school in London. Whitefield School, where nearly half of the students receive free school meals, is now able to offer its students better employment support, including access to work placements and experience days. Through Access Aspiration, we have so far provided 115 unique opportunities for Whitefield students, including industry insight days at places like the BBC, mock interviews and week-long work placements over the summer holidays.”
So, how does it work? If you have a project that supports social change and delivers measurable impact, then you might be eligible to receive an additional pledge from Santander of up to 50% of your crowdfunding target. The fund supports those who turn to the Crowd to make great ideas happen, meaning that in order to unlock this match fund pledge, eligible projects (see full criteria) are expected to raise the first 50% of their goal through crowdfunding. With the release of the Matched Crowdfunding Report, we now have the evidence to prove the incredible impact that matched funding is having upon increasing support from the Crowd.
The aim of Changemaker is to support those who are building skills and knowledge to help their communities prosper, whether this be from a social enterprise, small charity or community group. The results so far have been unanimous – together, we can create social change through the power of ideas.