Going, going, good: bidding on social enterprise

Since its début in 2002, The Funding Network has become master of the fundraising event…

Since its début in 2002, The Funding Network has become master of the fundraising event, raising more than £2.7m for around 300 projects. This month it partners private bank Coutts to create a charitable evening for the corporate philanthropist.

“It’s something of a mix between a boardroom pitch and a charity auction,” says Coutts’ Head of UK Philanthropy, Maya Prabhu, of the event, which will see five social entrepreneurs, each with six minutes, pitch their charitable cause. Following a Q&A with the audience, donations are pledged by raising paddles.

But, while the style of the event isn’t new for Coutts – a similar evening in 2008 raised £130,000 – the focus this year is exclusively on social enterprise, whereby innovative business models are employed to tackle social problems. “We wanted to provide a platform for inventive, yet relatively unknown, social initiatives,” says Andrew Haigh, head of Coutts’ Entrepreneurs’ Client Group.

Prabhu adds, “There’s been a marked shift towards informed social investment and away from straightforward donations lately. This really appeals to today’s results-oriented donor.”

Fact Box:

May 5 at Coutts & Co, 440 Strand, London WC2. Tickets (£20 for TFN members, £30 for non-TFN members, free for Coutts clients) at www.thefundingnetwork.org.uk.