Inspiring Scotland marks year three of 14:19 Fund
EVPA member Inspiring Scotland is marking year 3 of its successful 10 year fund which has invested over £19 million to get young Scots into employment, education or training.
Inspiring Scotland’s 14:19 Fund is one of Scotland’s most collaborative approaches to tackling youth unemployment and maximising the impact of charitable investment. During 2011:
- The 14:19 Fund Invested £6.1m in a portfolio of carefully selected charities all focused on getting young people into a job, education or training.
- The 14:19 Fund portfolio leveraged an additional £4.9m.
- 5,242 young people were supported and 7,025 qualifications and achievements were gained to help young people to be more prepared to move into a positive destination.
Commenting on the success of the Fund, Andrew Muirhead, Chief Executive of Inspiring Scotland – who also sits of the Board of the European Venture Philanthropy Association said:
“The need for the 14:19 Fund and an approach which maximises the impact on investment is vital in Scotland at the moment. The 14:19 Fund ensures young people are given the best possible chance of successfully securing a positive destination of employment, education or training and prevents negative long term consequences, for both young people and society.
“The venture philanthropy approach has a ‘turbo charging’ effect, enabling more young people to be supported and aims to help charities to maximise their efficiency, reach and collaboration and ultimately work towards financial sustainability. The 14:19 Fund has helped more young people, year on year, while charities have been able to expand operations at the same time creating efficiency savings.
“Investors from across the public and private sectors choose to invest in Inspiring Scotland because we don’t see this as charitable giving- rather investing with a social return.”