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Resilient Scotlands JESSICA Fund Edinburgh. Who we are JESSICA (Scotland) Trust was endowed with £15m from BIG Lottery Fund Resilient Scotland Ltd. is.

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Presentation on theme: "Resilient Scotlands JESSICA Fund Edinburgh. Who we are JESSICA (Scotland) Trust was endowed with £15m from BIG Lottery Fund Resilient Scotland Ltd. is."— Presentation transcript:

1 Resilient Scotlands JESSICA Fund Edinburgh

2 Who we are JESSICA (Scotland) Trust was endowed with £15m from BIG Lottery Fund Resilient Scotland Ltd. is the corporate trustee, directing the work of the trust Foundation Scotland delivers the work of Resilient Scotland

3 Vision & Mission Vision – Communities in Scotland are genuine partners in regeneration, in the design and delivery of high value services, and which build community identity and capacity and develop a sense of place Mission – To broker, facilitate and deliver finance and support for sustainable community regeneration

4 Who and where? Local communities in Clackmannanshire, Dundee, East Ayrshire, Edinburgh, Fife, Glasgow, Inverclyde, North Ayrshire, North Lanarkshire, Renfrewshire, South Lanarkshire, West Dunbartonshire, West Lothian

5 Our approach Deliver social investment packages to organisations to help them provide a more sustainable future for the communities that they serve Test new approaches, take considered risks Work to understand the needs of your community Collaborate with other investors/stakeholders, adding financial and social value to interventions; maximising potential for communities Make a positive, long lasting contributing to emerging social investment market in Scotland

6 Our tools £15m for social investment packages Repayment plans up to 10 years charged at base rate + 6% Innovative or alternative approaches to social investment Business support Stakeholder engagement to stimulate and shape community- level investment Learning programme to build on what works

7 Start & Grow Investment package up to £60K, 1/3 grant, 2/3 loan To support growth and development of enterprising organisations Finance can be used for capital or revenue No security or personal guarantee Creation or maintenance of employment is key

8 Start & Grow…the story so far Start & Grow have made five investments, totalling £271k, across five of our 13 local authorities We have over £350k of business in the pipeline

9 Making Enterprise Happen: What is it for Organisations to become more enterprising and sustainable Organisations looking to develop new proposals that will make a key difference Organisations looking to reduce their reliance on grants and becoming more enterprising Organisations looking to make the most of an asset

10 Making Enterprise Happen: What is it? Investment packages up to £500,000; likely mixed loan and grant A minimum of 50% of any investment must be repaid over a maximum of 10 years We will support you in the development of your investment proposal, depending on your needs

11 How will we help you Make Enterprise Happen? Open the conversation with community organisations; holding events and follow up surgeries Providing developmental support (grant, business development etc.) Linking to other investment opportunities that we may spot or secure

12 How will you Make Enterprise Happen?

13 Outcome 1 Community organisations improve their social, economic and environmental future and become more sustainable.

14 Outcome 2 Communities are more resilient and empowered to promote their own regeneration

15 Outcome 3 There is increased awareness and understanding of effective approaches to sustainable community regeneration

16 Hearing from others Local Context Ken Shaw, Head of Employability & Skills (Economic Development Service), City of Edinburgh Council Rob Hoon, Manager, Out of the Blue What does social finance mean? Andrew Millson, Development, Social Investment Scotland

17 Headlines we will look for Income generation Contributing to sustainable services and facilities Making the most of opportunities to improve lives of local people Creating a long lasting legacy for communities

18 Things to consider We will only be able to invest in your organisation if your proposal has proven to be un-bankable We will work with you to consider the impact of any other public funding under the State Aid guidelines Have an asset lock or dissolution clause and be prevented from/or have a cap on distributing profits Security

19 The process Download an Expression of Interest from our website Book a 1 – 1 surgery with our partners in your area to discuss your proposal Submit your EOI by 18 October We will consider your fit with our outcomes and your ability to repay the investment We will be looking to work with up to three organisations in each LA area

20 Our partners

21 Contact Chris Holloway, Programme Manager, Rachel Peacock, Programme Co-ordinator, Allan Farmer, Community Advisor,

22 Questions and Close Q & A to the panel Close from Ella Simpson

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