UCLB joins major London universities in initiative to support and scale up 14 ‘social venture’ businesses

London’s leading universities, businesses and civic organisations have joined forces to announce a programme to incubate and grow innovative social ventures – businesses that prioritise social impact over profit – with the aim of tackling some of the biggest challenges facing communities and individuals in capital.

Together they have formed London Social Ventures, an initiative led by Queen Mary University of London and University College London alongside nine other London universities, that will provide critical funding, mentoring and a robust support network for university-led social ventures focused on addressing key issues such as sustainability, inclusivity, and mental health.

The first 14 social ventures to be supported by London Social Ventures’ Advanced Support Programme were announced today at the formal launch, marking the start of an ambitious effort to create a thriving and self-sustaining social venture ecosystem across the capital.

They include:

Trimtots – setup by UCL academics an immersive healthy eating programme for families and young children which uses puppetry and interactive workshops to improve diet and help avoid obesity and its health complications.

Intotum – setup by a UAL graduate an adaptive everyday wear designed with and for the disabled community, their garments feature discreet, built-in functionalities that empower people whilst offering style, comfort and durability

[rebox.eco®] – setup by a UAL graduate and aims to revolutionise e-commerce packaging with a concept that’s as innovative as it is simple: remaking new boxes from old boxes.

Amir Rizwan, Director of London Social Ventures commented: “Social ventures are key to solving today’s complex problems. But they can’t thrive without early funding and the right partnerships. This is where London Social Ventures steps in. By bringing together London’s universities, we’re creating a robust, city-wide ecosystem that will support the next generation of social entrepreneurs.”

Other UCLB ventures set to take part:

Diversity Data Hub: a new data-led research collaboration between UCL and large UK employers goes beyond measuring high-level access rates to elite occupations by demographic group to provide deeper insights into why certain groups are less likely to obtain job offers for entry-level roles (graduate, apprenticeship, school-leaver and work experience programmes) across a range of sectors.

EDRAF: which combines technology and ethnographic knowledge to provide reliable credit ratings, risk assessments and to measure the socio-economic impact of lending to under-represented customers.

START (STrAtegies for RelaTives): a manual based therapy for family carers, developed at UCL. It is proven to be clinically and cost effective in reducing anxiety and depressive symptoms and increasing quality of life for family carers of people with dementia.

About London Social Ventures (LSV)

London Social Ventures seeks to solve deep-rooted social issues by backing social ventures founded by university researchers and students. The new initiative is led jointly by Queen Mary University of London and UCL Business – in partnership with major London universities, private partners and public bodies.

Social ventures are companies which generate social impact, rather than just profit, but are viable businesses (they don’t rely on donations).

University-born social ventures connect world-leading research with the wider impact economy. They have enormous potential to change lives yet struggle to raise early funding.

London Social Ventures will generate a critical mass of new social ventures big enough to raise a permanent self-sustaining fund that will back university social ventures emerging across the capital. This will start with a pilot of an initial cohort of fourteen social ventures from a range of London universities who are developing innovative ways of tackling social issues ranging from inclusivity, the environment, inclusive fashion and mental health.

The project was first announced in 2023, and formally launches on the 23rd October 2024. The initial funding is from Research England.

London Social Ventures is being initially funded through Research England across 2024-2025 and has bought together a diverse partnership including Barclays Eagle Labs, Sodexo, and the Mayor’s Office.

London Social Ventures partner organisations include Queen Mary’s University London, University College London, London Metropolitan University, London Business School, King’s College London, University of London, Goldsmiths University of London, University of the Arts London, London School of Economics, University of East London, City University, Barclays Eagle Labs, Sodexo, Central London Forwards, Royal Docks, Royal Albert Docks, London Borough of Newham and the Federation of Small Businesses.

Long term goals

The long-term goal of London Social Ventures is to develop a city-wide network capable of nurturing social ventures from idea to implementation, backed by partnerships with local authorities, NHS trusts, and corporate stakeholders. The initiative will also explore how this model can be scaled to benefit other regions in the UK, ensuring that the success seen in London can be replicated elsewhere.