We are delighted to announce that Cornerstone Place has been awarded support from Big Society Capital as part of its ‘Ideas For Impact’ initiative
Many visitors to our site will be aware that Big Society Capital (BSC) was created by the government in 2012 to help fund social development projects. The source of its funding is from bank accounts which have been dormant for 20 years or more. These funds are redirected into projects which deliver significant societal impact across a range of sectors, including housing for the homeless.
In the past BSC has carried out its own Research and Development in-house, but over the last two years decided to invite applications from the social sector under the Ideas For Impact scheme. There were 107 applications but Cornerstone Place was one of seven organisations selected to receive support.
Richard Kennedy, co-Founder of Cornerstone Place said,
It’s fantastic to get some third party recognition for the work we are doing with charities and local authorities to work towards ending homelessness, especially from such a high-profile organisation as Big Society Capital.
Fellow co-Founder David Ball added,
The aim of the support from BSC is to help us establish our own investment fund for the projects we are delivering for homelessness charities and Local Authorities. We currently access funding through a variety of channels and this has the potential to help us reach our goal of 1000 rooms in 5 years.
We will provide updates on progress in due course.