The Big Lottery Fund is administering the £80m Life Chances Fund (LCF) on behalf of the Office for Civil Society.
The Life Chances Fund (LCF) supports payment-by-results contracts where the initial funding is provided by social investors. These contracts are called Social Impact Bonds (SIBs), and one of the aims of the programme is to grow the SIB market across the UK. SIBs allow for socially innovative interventions to be delivered by commissioners without putting themselves at financial risk, and the outcomes based payment system helps to generate cashable savings. The aim is to help people in society who face the most significant barriers to leading happy and productive lives, and it is expected that LCF will typically provide a £1-2m subsidy for proposals.
They are looking to fund intervention services aimed at early stage prevention in particular policy areas, with proposals ideally being led by a commissioner. The social policy themes for this final round of funding are Older People’s Services and Healthy Lives. The deadline for your expression of interest is 31 July 2017, with a deadline of 30 April 2018 for submission of the full application.
There is also an innovation strand for projects which fall outside of the themed policy areas but still fit with the Fund’s wider outcomes; some examples may be proposals preventing damage to the environment, preventative projects promoting women’s needs, preventative projects targeting refugees and asylum seekers or victims of domestic abuse, or promoting victim support.
They will be running six free events in June focusing on Older People’s Services and Healthy Lives which they would like to invite a representative of your organisation to attend. In addition to information delivered by the Fund, there will be presentations from investors and commissioners who are either developing or delivering SIB proposals. This will be an excellent opportunity for finding out more about LCF and networking with other interested parties.
The event dates are:
· London – Tuesday 6th June 2017
If you would like to attend, you can register for the events by clicking on the venue link above. Due to the high level of interest anticipated, please limit delegate numbers to one representative per organisation.
If you are interested in applying to LCF for one of the other four policy areas (Substance and Alcohol Abuse, Children’s Services, Early Years and Young People), please drop them an email at LifeChancesFund@biglotteryfund.org.uk to discuss your proposal. If you have any questions about LCF, you can visit the website for full details: https://www.gov.uk/government/publications/life-chances-fund.
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