Ten start-ups are in line for a £50,000 boost after Big Issue Invest opened a new round of its Corporate Social Venturing (CSV) scheme.

Big Issue Invest is the social investment arm of the Big Issue Magazine. It is offering funding to new businesses that target social ends.

Now in its second year, the programme focuses on the sectors of health, education, wellbeing, homelessness and the creative industries.

In all, 20 new businesses are being sought, while 10 will receive up to £50,000 each. Entrants can be social enterprises, charities or public sector spin-outs.

The scheme is backed by Barclays Bank, a host of corporate partners and the UK Cabinet Office. The Cabinet Office is lending support as part of the UK’s social investment fund.

“The Corporate Social Venturing programme is core to The Big Issue’s mission,” said Nigel Kershaw, CEO of Big Issue Invest and chair of Big Issue.

“We don’t want people ending up on the streets and that’s why we’re investing in brilliant social ventures that create jobs, training, accommodation and well-being. It’s all about prevention.”

“The relationship we have with our corporate partners is not some fly-by-night ‘social wash’ – it’s for real. They are putting in their own money and time to nurture these social ventures in the long term.”

To enter go to the BiG Issue Invest CSV website (link below)