Social Ventures Australia (SVA) has launched a venture philanthropy fund to focus support on Queensland-based initiatives. The fund was launched at an event in Brisbane that brought together leaders from business, academia, philanthropy and social enterprise.
The Queensland venture philanthropy fund is designed to connect strategic philanthropists with a portfolio of high impact, Queensland-based social purpose organisations that are tackling pressing social issues. Using a venture philanthropy approach, selected organisations will receive a combination of funding and capacity building support, including advice on business strategy, measurement and evaluation of impact, and opportunities to access new supporter networks.
SVA pioneered the venture philanthropy approach in Australia and have over a decade of experience helping social purpose organisations like the Australian Indigenous Mentoring Experience (AIME), Career Trackers and Beacon Foundation grow and scale to reach thousands of disadvantaged young people each year.
SVA’s Queensland Director Mark Herbertt commented:
‘We have strong relationships with social purpose organisations in Queensland and have helped outstanding initiatives like QUT’s Exceptional Teachers for Disadvantaged Schools program grow to become a national program reaching students across the country.
‘This fund is designed to help great organisations access the financial and business support they need to grow the impact of what they are doing, as well as to help philanthropists identify high-impact organisations that can make a big difference to the Queensland community’.
Luke Terry, social entrepreneur and CEO of Toowoomba Clubhouse shared how SVA’s support had helped grow the impact of the social enterprises he was involved with.
‘Over the last four years our work with SVA has helped more than fifty people in rural Queensland with a disability get access to sustainable employment. We look forward to continuing to work with SVA, and know that there are other organisations throughout QLD who would greatly benefit from SVA’s support’.
The Queensland venture philanthropy fund will seek ventures that are primed to benefit significantly from SVA’s support, and who share a commitment to building an evidence base of “what works” to achieve meaningful social impact. As the fund gets off the ground SVA is inviting expressions of interest from philanthropists, pro bono partners and business mentors who can offer services, office space or mentorship to the selected ventures.
An advisory committee of Queensland stakeholders will be established to provide guidance to the fund.
