Acumen is based in North East England and promotes social and economic regeneration through learning, enterprise and employment.
Impetus support package
Investment period: 2008 - 2009 (Planning phase
investment*)
Planning phase grant funding: £25,000
Pro bono services donated: £41,000
Background to the investment
Acumen had grown rapidly in the last three years, having developed
an integrated model of supporting adults who are long-term
unemployed on a journey back to employment. Our goal is to support
Acumen to further develop its model so they can become a leading
player in the area of employability.
Key Objectives
The key objective was to help prepare Acumen for its scale-up to
become a leading national player in the area of employability. This
involved:
- defining the organisational structure and addressing gaps in the
senior management team
- implementing more robust financial systems and reporting
- refining the delivery model
* Planning phase investment is an initial investment
period to develop the plan for growth. It is usually followed by
further investment over a longer period.
After review, both parties felt that Acumen could continue its
development without further support from Impetus.
Acumen is part of the Impetus Economic Disadvantage
Portfolio.
The most effective help is the combination of money and advice that is the hallmark of a new breed of intermediaries that are developing the market for venture philanthropy and investment for social good. Their time is now. My warmest congratulations to everyone at Impetus Trust on some impressive achievements this year. May there be many more to come.
Nick Hurd MP
Minister for Civil Society