NN Group – NN launches the NN Social Innovation Fund to help social enterprises
Immediately, NN launches the NN Social Innovation Fund. The fund, with an preliminary EUR 5 million funding, is aimed toward supporting early-stage social enterprises targeted on growing monetary, bodily and/or psychological well-being. The primary two enterprises supported by the NN Social Innovation Fund are Quan and Socialdebt.
Bridging the funding hole
Social enterprises are companies primarily aimed toward driving social change, somewhat than prioritising income. Whereas social entrepreneurs typically depend on household and associates throughout the start-up interval, they typically wrestle to draw new investments within the subsequent part of rising their companies. The NN Social Innovation Fund goals to bridge this funding hole by investing in promising enterprises. As well as, NN offers volunteer hours and monetary experience.
Funding for Quan and Socialdebt
The primary two enterprises supported by the NN Social Innovation Fund are Quan and Socialdebt. Quan, a The Hague (NL) primarily based software program developer, goals to extend the psychological well-being of 1 million individuals by supporting managers and groups seeking to forestall burnout and improve workforce efficiency. Socialdebt, a Rotterdam (NL) primarily based fintech, helps younger individuals combating debt and monetary stress.
Dailah Nihot, member of the NN Group Administration Board: ‘Funding is among the largest challenges social enterprises face in constructing their companies, and right this moment’s macroeconomic setting creates extra uncertainties. With the fund, NN goals to assist entrepreneurs and supply them with the mandatory assets to drive social innovation and to make a optimistic influence in society, within the early phases of rising their companies.’
NN’s dedication to society
The fund is a part of NN’s strategic dedication to speculate 1% of our working outcome earlier than tax by 2023. With these assets, NN goals to contribute to the monetary, bodily and/or psychological well-being of 1 million individuals.
The fund will formally be launched throughout the annual convention of the European Enterprise Philanthropy Affiliation (EVPA) in Brussels right this moment. Do you wish to study extra in regards to the NN Social Innovation Fund? Please check with our web site
