Fund the Next Entrepreneurs

by The Winch
Rewards

About the project

Goals

Tipping Point £5,000
Second milestone £10,000
Final Goal £15,000
£5,166.25
tipping point
£30.000
20%
In-kind donations range from drinks to office supplies. We even accept homemade cakes. See what else we need!
tipping point
25 hrs
12hrs
In-kind donations range from drinks to office supplies. We even accept homemade cakes. See what else we need!

More about the project

What is the social/environmental problem/issue that this project will address?

We believe that many young people’s ambition and creativity has been limited simply because they are not given the freedom to express themselves, try new ideas and to make mistakes without feeling like they have failed.

Work is a key tool for lifting families out of poverty but it is not a guaranteed route. 31% of single parent families where the parent works part time are still in poverty, and 17% of those working full time. Therefore, we aim to equip young people with the skills they need to succeed whether they choose to pursue either a traditional or non-traditional route so that they experience personal and material wellbeing long term. 

Can you give us some statistics on this problem?

•  As of February 2013 there were 21,480 people who were out of work/claiming benefits. This represents 13.4% of the population aged 16-64.

•  7% of the young people aged 16-19 are known to be not in employment, education or training (NEET). This compares to a national figure of 5.9% and a London figure of 4.8%

•  Unemployment is concentrated in Camden’s most deprived wards. It is highest in St Pancras and Somers Town, Kilburn, Haverstock and King’s Cross wards.

•  The longer someone is unemployed the less likely they are to return to work. Camden has the 6th highest amongst London boroughs, higher than the London average.

•  To put the statistics in perspective, half of the young people in our current cohort (group) are living in supported accommodation. 75% of the cohort are unemployed and those who are employed only have part-time jobs.  

Young people are the future! Help us give them the opportunity to pursue their ideas and sustain themselves.

What is your solution?

Our solution is to offer the Company programme as a way to nurture bright ideas and turn them into focused enterprises.. By setting up the fund, we will encourage young entrepreneurs to come forward with their idea and apply for the fund. Without your funding, they would not be able to test their idea and make it a reality. It is designed for candidates with a good idea and a strong work ethic, providing a route into self-employment regardless of academic qualifications, which they may not have achieved due to lack of opportunities.

How will you deliver this?

The Company programme starts with individual support to help our ‘Associates’ tweak their ideas and create a business plan. The timeline below provides details on all the amazing opportunities and support our Associates receive. We also arrange various business and personal development workshops to be delivered in the Company Hub work space at The Winch, so that our Associates can expand their network while simultaneously experiencing professional and personal growth.  

1.  Company Hub Work Space:  Associates of the Co. have access to a dedicated work space where they can develop their business ideas and seek inspiration. Our Associates will be able to use the Hub as their office or even as their businesses’ registered address. 

2.  Business Mentor: Each of our Associates are assigned a business mentor who meets with them individually to help them develop their ideas. Every mentor has experience in the business world and will share their knowledge and provide guidance when needed.

3.  Accelerator Learning Programme: The learning programme lasting for about 10 weeks is made up of visits to businesses, talks from real entrepreneurs as well as other workshops for business and personal development. From this programme, we hope that our Associates will receive the inspiration and gain the knowledge they need to run their business successfully. 

4.  Learning Journeys: We organize 2 learning journeys for our Associates during the first phase of the programme. One is designed to build morale and improve relationships. The other is right before the pitch to the panel and is designed to motivate and prepare the Associates for pitching for investment.

5.  Seed Funding: Associates who have successfully completed the business development programme will be eligible to pitch for cash investment from The Co. This will enable them to purchase necessary start up items, and develop their ideas further. Your donation will be used to provide seed funding for the 10 individuals in our current cohort providing them with the needed finance to start their business and further their professional development.  

We commit long term so our support is available for our Associates for up to 3 years after the completion of the programme.  Help us help the Associates!

Quotes from past participants:

Matt, one of our past Associates said, “The Winch played a huge part in helping me start my own business when I was an unemployed youngster- The UK needs more places like this that inspire and encourage young people to work toward their full potential.”

Ruqiya Osman, a past Associate, said, “Before I joined The Company I would never have believed that I would develop my idea for a business or get myself to a place where I could pitch to a panel for investment in my idea. I learned a lot about myself and I’m proud of where I am now.”

Amaru Fleary, founder and CEO of Obnoxious Kids said, “The support here (at The Winch) is second to none. It is like a family here. I can’t even find the words to describe it really. I am so thankful for The Winch”.

 

Get involved

Here are some great ways to get involved with the project and help out. If you have...
  • 2 minutes
    Check out our website and get an idea of what we are doing with young people. Send an email to anyone who you think will contribute to the fund. People are most likely to donate if the email comes from a trusted source. http://thewinch.org/thecompany/
  • 5 minutes
    Like what you read? Then please tweet and share on Facebook letting all your friends know about us.
  • 15 minutes
    Can you blog about us and about the Buzzbnk Challenge? We will promote your post in return! Please free to get in contact with us if you require any information
  • 30 minutes
    Want to grab coffee? A member of the team can come along and tell you all about what we are up to and how you can get involved. Any ideas or feedback is very much appreciated.
  • A few hours
    Review one Associates business model and offer constructive insights as well as potential connections to boost their venture.
  • Regular time commitment
    Be a part of our supportive community and help us continue the impact we are having. Share your skills, and learn new ones, to make a real difference to the lives of young people in the community.

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About the organisation

Vision and mission

Our mission is to help each child succeed, regardless of their circumstances by giving them the opportunities and support they need. We work by building authentic, long term relationships, acting in a flexible and responsive way, seeing each individual and situation as unique, taking the initiative where others may not and working collaboratively to bring about the best solutions. Click here (http://thewinch.org/) to learn more about what we do

Geographical coverage

Within a city/shire

Our track record

Since it was founded in 1973, The Winch has changed the lives of thousands of children and young people. We work to ensure that growing up below the poverty line does not stop young people from achieving their potential. Since 2011, we have tripled our size and have extended our reach to deliver activities and services across a wider range, to support individuals with more complex needs and to develop partnership, impact measurement and policy work.

Who do we help?

We have a cradle to career model where we intervene early and commit long terms. We offer a variety of services targeted to different age groups. We have services for 0-5 year olds, for 4-12 year olds, for 11-19 year olds, 18-25 year old and parents as well. The life chances of a child born into poverty in the United Kingdom start to shrink as soon as they are born. That is why we work with families from the very beginning and invest long term. We work from cradle to career, ensuring support is ever present, particularly during challenging periods and transition points. Click here (http://thewinch.org/our-services/) to learn more about the services we offer.