Last week, Trust for London and City Bridge Trust announced they have teamed up to provide £100,000 to through the Improving Life of Londoners Fund. The initiative was launched on crowdfunding platform, Crowdfunder UK.
While sharing details about the Improving Life of Londoner Fund, the organizations revealed:
“The Improving life for Londoners fund helps organisations based and working in London to deliver projects which will address inequality and lift people out of poverty in the capital. Trust for London and City Bridge Trust have £100,000 available to organisations using crowdfunding to raise funds and deliver projects which will benefit Londoners and the communities they live in. Successful projects will be delivering practical solutions to support people on low incomes, led by communities that will benefit from the work. The Improving life for Londoners fund will provide up to 50% of the target (up to a max of £10,000), with projects expected to raise at least the first 25% from the Crowd.”
Alison Gowman, Chairman of the City of London Corporation’s City Bridge Trust committee, reportedly stated:
“This new programme will open a wealth of opportunities for projects which tackle disadvantage in London. This scheme aims to bring new innovative ideas for fighting poverty in London and reach new organisations that would not naturally approach us. City Bridge Trust is committed to supporting Londoners to make the capital a fairer place to work and live.”
Bharat Mehta, Chief Executive of Trust for London, added:
“Trust for London is excited by the potential impact of crowdfunding, which provides smaller organisations the opportunity to raise funds quickly to deliver innovative projects. We encourage organisations working on social issues in London to consider the benefits of raising money from ‘the crowd’ and are confident this new fund will contribute towards our overall mission of reducing poverty and inequality in the capital.”
Those interested in participating must follow this criteria:
- Located and working in London
- Undertaking charitable work to tackle poverty and inequality
- Demonstrates that the project will increase the involvement of people in community activities
- Raises funding from a minimum of 5 individuals
- Use the ‘All or nothing’ funding option
Projects are to start within three months of reaching their fundraising target and last a max of 1 year.
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