Ignite, the UK's first corporate impact investment fund focused on energy and backed by Centrica, has received an award for Corporate Impact Venturing.
Global Corporate Venturing (GCV), an organisation which strives to encourage long-term sustainability in society, has named Ignite the winner of its 2016 Corporate Impact Venturing Award.
GVC recognised Ignite for its unique operating model which not only creates financial returns from investments, but generates positive outcomes in society by backing innovative energy ideas.
Ignite does this through its commitment to invest £10 million over 10 years alongside our people’s expertise to grow the impact of social enterprises that can help tackle big issues in society - from fuel poverty and unemployment to energy security and climate change. This support empowers our social enterprises to deliver greater social good and build the entrepreneurial skills of our people, while also creating commercial benefits through working with new, disruptive and profitable social enterprises.
Julia Rebholz, Managing Director at Ignite said: “I’m thrilled that Ignite has won this award because it recognises the uniqueness of what we’re doing. You’ll see impact funds and corporate venturing funds, but you don’t really see the blending of the two.”
“We have already supported 10 enterprises with investment alongside a further 14 enterprises with the expertise of our people. This has helped over 16,000 people benefit from services provided by the social enterprise in addition to creating 62 new jobs and training opportunities for 95 people. As well as providing a financial return, we’ve generated a pipeline of projects for Centrica to the value of £100 million.”
Julia concluded: “Lots of other companies are now talking to us because they want to replicate our model. They see the model is helping people, improving the understanding of industry trends and creating new dialogues with potential customers and business partnerships.”