SCA Group Social Enterprise Incubator
Executive Summary
Three exciting events have come together to create an opportunity for a new type of enterprise launched to improve peoples' lives on the South Coast:
- The Government has identified the social enterprise as one of the preferred mechanisms for re-engineering the delivery of public services.
- The SCA Group has become widely recognised as a long established social enterprise in the health care sector, for its innovative problem solving, robust governance and commercial management team.
- The increased public profile of fund raising from "Social Philanthropists" by the emergency of three new types of benefactor with investment for social benefit rather than financial return:
- The Wealthy Private Individual
- The Corporate Social Responsibility budgets of Public Companies
- The Charitable Trust
The SCA Group will raise £1m from social philanthropists to provide "seed capital" for around 8 start up social enterprises with a common social mission:
"... to improve peoples lives by providing innovative health and social care
solutions to unmet needs...."
The seed capital will be used to "accelerate" the newco to sustainability (break-even), from which point it will start to repay "seed capital" and a royalty on income to create new funds for re-investment.