The European Social Enterprise Fund
Building on the success of the African Social Enterprise Fund (ASEF), the European Social Enterprise Fund (ESEF) will be launched in 2019, initially in the field of Sustainable Fashion. Increasingly, consumers are prioritising ethics when it comes to their fashion choices. Spanish Fashion already enjoys a stellar international reputation. Greek fashion is beginning to pivot towards a more local, sustainable production models, whilst looking to sell to an International market. In Britain the fashion industry employs 800,000 people and has been valued at £29 Billion.
Why Greece, Spain and the UK?
Youth unemployment in the Eurozone has stagnated at an average of between 19% to 25% for a decade. In Greece and Spain, the two hardest hit countries, analysts place youth unemployment at 43.7% and 36% respectively.
Although in Britain, the picture is brighter for young people, pockets of inequality and poverty can mask the real story. For example, the London Borough of Newham, has the youngest population in the country, and is marked by a 14% unemployment rate, approximately double that of other London Boroughs.
The European Enterprise Fund (ESEF) seeks to challenge this by providing sustainable business opportunities to young Greeks, Spaniards and Brits in the creative industries. In Greece and Spain, a skilled, under-employed, young population are hungry for professional opportunities befitting their skills and level of education. There are also burgeoning social enterprise scenes in both countries which pose a timely opportunity for growth and development of socially motivated businesses.
In the UK, many young people struggle to access opportunities and career pathways in the creative industries. Newham has been identified by a Local Economic Assessment as an area with potential for expansion in the Creative Industries and it is here that the the ESEF UK award will work. The UK award in sustainable fashion will have the added challenge of using ‘single use plastics’ in support of the #oneless campaign, thus integrating social and environmental concerns.
The ESEF aims to provide a bridge for the Creative Industries between Greece, Spain and the UK, especially important in the times of Brexit.
The year-long CISCA Award will provide each winner in with:
• Expert mentoring and professional coaching throughout.
• €10,000 for product development.
• Legal advice on how best to structure their business.
• Business expertise and support drafting a 5-year business plan.
• 12-day international leadership training in Italy in July 2019.
• Short courses at University of London Central St Martins.
• Access to an international network of organisations in over 50 countries.
• Launch Events in Athens, Madrid and London.
A full description of the Award and a detailed application process will be advertised through our network and by our partners.
At the completion of the programme, international investor meetings will be set up as a trunk show and Angels invited to invest in the new enterprise. A 5% share of profit sales in the first year will be donated to Prospero World as part of the young business’s CSR. This will be invested in creating additional CISCA awards. The winner will be invited to mentor the winner of the Award in the following year.
The ESEF also provides corporate sponsorship opportunities for forward-thinking businesses who wish to align themselves with creativity, innovation, and social impact while receiving a host of benefits including brand visibility, client entertainment, and employee engagement.
Please CONTACT US to discuss how to get involved.
Our ESEF Partners Include