Power Up Scotland develops early stage social businesses through investment, business support and cross-sector partnerships.
Launched in 2018, Power Up is open to organisations across Scotland and has made £750,000 available to lend over the next two years. The funding available is to enable organisations to build on the work they currently do within their communities, such as buying equipment, hiring new talent, or progressing with business development plans. Successful applicants also receive mentoring and business development support to social ventures for the two year period.
The programme, pioneered by Big Issue Invest and funded by partners, Aberdeen Standard Investments, Edinburgh University and the Scottish Government, aims to enable up to 20 Scottish early-stage social ventures to access loan funding of up to £50k. Power Up has been developed for organisations likely to be accessing finance for the first time, and with social value creation being the key criterion, social enterprises, charities, and private enterprises are all welcome to apply.