Funding news

Fair Chance Fund launched- 5 March 2014

A new £15m fund to support young homeless people has been launched by the Department for Communities and Local Government and the Cabinet Office. It is currently inviting expressions of interest from service providers.

The Fair Chance Fund is offering £15m to service providers for a payment by results programme. The programme aims to improve the lives of young (predominantly 18-24 year olds) homeless people whose needs are difficult to address using existing services. It hopes to prevent long term benefit dependency, health problems and increases in crime.

The objective of the fund is to move at least 2,500 young homeless people who are not in education, employment or training into sustainable accommodation. The fund hopes to find at least 1,000 of the 2,500 people sustained employment over a period of 36 months, which will begin in January 2015 and end in December 2017.

The fund understands that in order to do this, underlying issues, such as mental health problems, substance misuse, offending, gang involvement and trauma will have to be attended to as well. To do this, the fund will:

  • facilitate in the development of innovative approaches where services are hard to specify and one size does not fit all
  • develop and strengthen the capacity of social investment to deliver results in this area of work.

Providers are expected to work with social investors or philanthropists to provide them with the up-front capital needed to deliver services. The scheme aims to develop the social investment market to deliver the results of the programme.

Service providers must demonstrate a positive track record of working with vulnerable young people, and the capability to work with the cohort to achieve accommodation and employment, education or training.

Bidders must bid for funding of between £500,000 and £3m working with groups of between 50 to 600 people.

Organisations that are looking to bid can complete an Expression of Interest Form. The deadline for the submission of these forms is 12pm on 22 April 2014.

More details and guidance will be available for successful bidders in May 2014.