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Home Industry News DoH opens social enterprise investment fund

DoH opens social enterprise investment fund

20th August 2007

The Department of Health (DoH) has announced the opening of a 73 million pound investment fund for health and social care.

Groups can now begin to apply for money from the investment fund for the establishment of social enterprises designed to meet specific social and healthcare needs for the benefit of local communities.

The scheme is set to run over four years and was launched by the government at the Kath Locke Centre in Hulme on a visit to social entrepreneurs in north-west England.

Chief executive of the Social Enterprise Coalition Jonathan Bland welcomed the establishment of the fund, stating that it is vital that initiatives aiming for more than building shareholder wealth receive access to investment.

Ivan Lewis, care services minister, said: “Social enterprise has a strong track record of revolutionising services in other sectors and has the potential to transform the way services are delivered in health and social care.”

He added that this fund highlights the government’s dedication to backing social enterprise in healthcare, while the government anticipates the fund making a genuine difference to local communities that it serves.

In April 2007, the government reported that 1.4 million pounds of funding would be made available to local social enterprise initiatives, with this money used at over 26 schemes across England.

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