Impetus support package:

Impetus investment period: 2010 - 2014
Grant funding: £275,000
Pro bono services donated: £128,000               Investment management value: £142k
Total funding package to date: £545k

Impetus has invested in Blue Sky as part of the Impetus for London Initiative.

Background to the investment:

The impetus for our involvement is that Blue Sky has already shown impressive growth with a very scalable model. It is achieving clear results in our area of focus, helping break the cycle of poverty. It has been shown that employment cuts the risk of re-offending significantly, but the majority of ex-offenders have no job on release, leading to the cycle of re-offending.

 

Focus of Impetus expertise 2010/11:

• Refinement of pitch to public sector commissioners
• Development of a balanced scorecard tool to monitor performance
• Integration of financial management and accounting systems to allow for more effective contract management
• Execution of a Social Return on Investment study accredited by the SROI Network.

 

Key achievements 2010/11:

• Doubled the number of employment contracts offered v. the prior year
• Secured five new grounds maintenance and two new waste recycling contracts
• Established a second franchise operation in Yorkshire and the Humber in association with Groundwork Wakefield
• Named England's Social Enterprise of the Year by the Social Enterprise Coalition
• Chosen as one of 10 Downing Street's first two official Social Action Partners.

Find out more about Blue Sky Development & Regeneration