New initiative seeks to support new startups with a social purpose.
Queen Mary Innovation has hired Amir Rizwan to lead the London Social Venture Fund Project: a new initiative by London universities to support social ventures emerging from university research.
A proven impact investor, Amir has worked at Macmillan Cancer Support and Big Society Capital and led on developing Comic Relief’s social investment strategy. He has extensive experience in supporting social ventures to raise finance and of working with a range of investors to develop ways in which they can utilise impact investing to achieve both financial and impact goals.
Whether it’s cleaning up London’s air, developing new medical technology, or tackling ingrained poverty – entrepreneurship allows researchers to implement innovative ideas in a new way. But without support, structure and capital, many new social ventures struggle. That’s why Queen Mary University of London and UCL are leading a coalition of London universities and others to develop the London Social Venture Fund.
Amir will start on the 25th of March 2024. The project will build a pipeline of new ventures from London universities and develop a London-wide support network of legal support, business model development and mentoring.
Amir Rizwan comments:
“Having lived in East London for most of my life, I’ve seen first-hand how inequality has worsened. Social ventures can be a powerful tool in driving positive change and uplifting local communities.
There remains a pressing need to change how we support ventures, especially those led by founders from minority backgrounds or female founders, given the challenges around diversity. This project can be transformative in achieving that.
I’m hopeful that as London universities we can drive positive change, build lasting partnerships, and lay the foundations for a permanent and impactful organisation within the London social impact ecosystem.”
Phil Clare, CEO of Queen Mary Innovation, comments:
“Social ventures are stuck in a bind. They can’t grow without funding, a fund can’t sustain itself without a pipeline, a pipeline won’t emerge without a fund. The London Social Venture Fund seeks to change that – and we’re delighted to have Amir Rizwan join the team to lead its creation.
We intend to generate a critical mass of new social ventures big enough to raise a permanent self-sustaining fund that will back university social ventures emerging across the capital – and benefit communities across London for years to come.”
Colin Bailey, President and Principal of Queen Mary University of London, comments:
"Since our founding, Queen Mary University of London has been on a mission to spread hope and opportunity - so we're proud to be leading this ambitious initiative to support social ventures emerging from universities across the capital."
Follow Queen Mary Innovation on LinkedIn to stay up to date with the London Social Venture Fund Project.
The London Social Venture Fund Project is a collaboration led by Queen Mary University of London and UCL which includes London Metropolitan University, London Business School, King’s College London, University of London, Goldsmiths University of London, University of the Arts London, London School of Economics and Political Sciences, University of East London, and City University.
Other partners and investors include Barclays Eagle Labs, Sodexo, Central London Forwards, Royal Docks, RAD London, the London Borough of Newham, and the Federation of Small Businesses.
The initial funding comes from Research England.
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