UnLtd, The U.K. charitable foundation, is planning to expand its social enterprise accelerator and scale up funding at the same time it ends its Big Venture Challenge.
The nonprofit is assembling an advisory group of investors, donors, policy makers and alumni of the Big Venture Challenge to direct its Ventures growth strategy.
Big Venture Challenge, a four-year program that worked with social startups to attract and match capital, supported 120 social ventures, which each raised between £50,000 and £250,000 from 170 investors.
Nine out of 10 of the startups UnLtd supported are still up and running. Among small businesses generally, 40 percent fail in the first five years.