LaunchMe celebrates 10 years of impact
LaunchMe marked its 10th anniversary at a celebration event in Edinburgh.
Last night in Edinburgh, Firstport brought together participants and supporters from the previous ten years to celebrate a decade of LaunchMe.
The event highlighted the programme’s achievements, including supporting over 80 social enterprises across 11 cohorts. Fifty-nine per cent of these social enterprises have secured £4.3m in social investment, increased their turnover and created new jobs. All of this while making a positive impact in their communities.
When it launched in 2014, LaunchMe was the only accelerator of its kind in Scotland. It was pivotal in connecting ambitious social enterprises, particularly those at an early stage, with investment to achieve social impact at scale. Delivered by social enterprise agency Firstport and now funded by the Scottish Government, LaunchMe counts some of Scotland’s best-known social enterprises amongst its alumna, including Homes for Good, Social Bite, Invisible Cities and the Scottish Design Exchange.
The programme, which combines practical expert-led workshops with one-to-one and peer support and investor connections, has refined its delivery model over the years to ensure it responds to the needs of participants and the investment landscape.
The event also saw the unveiling of the Autumn cohort, which will support 18 social enterprises to get investment ready. For this latest intake, LaunchMe partnered with social enterprise Dechomai to support ethnic minority social entrepreneurs – who often face additional barriers to accessing investment – to participate in the programme.
The whole Firstport team is excited to celebrate ten years of LaunchMe. When it started in 2014, we knew we had an opportunity to stimulate the appetite for social investment amongst social enterprises to deliver positive impact at scale.
Fast forward a decade, and over 80 social enterprises have increased their turnover, created jobs and grown their social and environmental impact with LaunchMe’s help. While much has changed over this period, what has remained consistent is the focus of these enterprises on delivering change and making an impact in their communities. We can’t wait to see what the future holds for the latest cohort and will support them at every step.
Gael Drummond, Chief Executive, Firstport
LaunchMe is just one example of how the Scottish Government is providing support to ambitious social entrepreneurs looking to grow their business.
In Scotland, social enterprises employ the equivalent of nearly 90,000 full time employees and provide new opportunities to create sustainable growth, reduce inequalities and increase wellbeing for all.
Tom Arthur, Employment and Investment Minister, Scottish Government
I was part of the first LaunchMe cohort in 2014. The programme came at the right time for us because I knew Homes for Good’s business model would require a blend of investment and a little grant funding. After going through the programme, I secured £100K from an angel investor, matched by a £40K grant from Firstport. The investment enabled us to buy our first premises, invest in our highly regarded tenancy support model, and have the cashflow to keep us going at that critical time.
Ten years on, we have raised over £23m in investment and £2.5m in grants. We now manage 600 homes and own 350 of them. We have 25 people in the team and have offices in Glasgow, Dumfries and London. We continue our journey to growth and want to reach 1000 homes managed by Homes for Good. We are proud that, along the way, we have influenced policy, inspired others to adopt part of our model, and hope that we have made the private rented sector a better place to call home.
Susan Aktemel, founder of Homes for Good and LaunchMe alumni
For more information about LaunchMe and to apply for the next cohort, follow this link.