A strong market understanding
A sustainable business model
Will funding de-risk the business?
ImpactU Pathfinder Award
What is the ImpactU Pathfinder Award?
A dynamic initiative designed to catalyse social ventures across English universities. Our mission? To empower you to create lasting impact in your communities and beyond.
Social Ventures can apply for up to £40,000!
How Does it Work?
Pathfinder Awards: We provide pre-seed awards to kickstart your journey. These awards are more than just funding, they’re a vote of confidence in your vision. We give convertible loan notes to Companies Limited by Shares, and loans to Companies Limited by Guarantee.
De-Risk and Accelerate: We understand that every venture faces risks. Our support helps you turn obstacles into stepping stones.
Returns for Re-investment: Any returns generated by your venture will be reinvested into our shared pot. You success fuels future impact!
Why Choose the ImpactU Award?
Tailored Support: We recognise that each venture is unique. Our personalised guidance ensures you receive the right resources at the right time.
Up to £40,000: Social Ventures can apply for up to £40,000! Lets build bridges not piers!
Community Change makers: Join a vibrant network of like minded individuals who share your passion for positive change.
Are You Eligible?
Your university is a member of ImpactU (check the list here)
Your co-founders are associated with a member-university
You have a social mission statement in the company’s Articles of Association
The company (Company Limited by Shares, Company Limited by Guarantee or a Community Interest Company) has been or is soon to be incorporated
Be ready with a business plan and financial cashflow
Your company is pre-investment (equity or debt)
ImpactU funding cannot be used for:
Academic/scientific research
Legal incorporation costs
Upcoming Rounds (2024)
Round 2 - September
Round 3 - December
- 26th of August 2024 – Applications Open
- 19th of September – Applications Close
- 19th of September – Governance Panel Review
- 23rd of September – Pitch Training
- 27th of September – Cash Flow Training
- 9th of October – Award Panel
- 11th of November 2024 – Applications Open
- 25th of November – Applications Close
- 25th of November- Governance Panel Review
- 10th December – Pitch Training
- 12th of December – Cash Flow Training (TBC)
- 17th of December – Award Panel
Investment Criteria
An embedded social purpose
A strong founding team
An innovative solution
Our governance team will assess your application based on an online application form, largely based around the themes above. Applicants who pass this initial review will go forward for pitch and cashflow training, and then pitch to an award panel for investment.
Applicants will need to submit an up-to-date cash flow prior to the award panel.
Our award panel will assess your application based on the above criteria. We are looking for a business that can demonstrate how the ImpactU £40,000 can really accelerate their proposition towards seed investment or customer acquisition, or preferably both!
You can find our CLN terms here: Convertible Loan Note (Template)
Universities: Why Become a Member of ImpactU?
Access to Training: As a member, your university will gain access to specialised training and resources. Equip your faculty, staff and students with the tools they need to create meaningful change.
Eligibility for ImpactU awards: Only English Universities (we are working it) are eligible for the Pathfinder Awards. These awards provide vital pre-seed funding to social ventures, helping them thrive.
Pre-Screening Criteria: We value quality and impact. To ensure best fit, we ask member universities to conduct pre-screening on applicants for the pathfinder awards.
Support for Unsuccessful Applicants: We believe in resilience. Even if an application in not successful, we are committed to providing support. A designated main contact at your university will receive feedback and guidance for unsuccessful applicants.
The Governance Team
Richard Hazenberg, University of Northampton
Charlotte Rowan, LSE Innovation
Emma Salgard Cunha,
Cambridge Enterprise
Pippa Christoforou, Oxford University Innovation
FAQs
About ImpactU
- What is ImpactU? ImpactU is a university training and funding program exclusively for social ventures, brought to you by a collective of UK universities.
- What is the goal of ImpactU? ImpactU aims to support and raise awareness of mission-driven businesses emerging from university ecosystems.
- Who is eligible to participate in ImpactU? Social ventures associated with UK universities are eligible to access ImpactU’s Social Venture Hub training. Only social ventures associated with English universities can apply for ImpactU’s Pathfinder Awards.
- Why are only English Universities eligible for Pathfinder Awards? ImpactU is funded by Research England so focusses on delivering support in England. As our training can be delivered online, we are able to expand this to the whole of the UK. We are actively exploring expanding the programme into Scotland, Wales & Northen Ireland.
Pathfinder Awards
- What are Pathfinder Awards? Pathfinder Awards are pre-seed investments designed to accelerate the success of university social ventures in the UK. Investments are given in the form of convertible loan notes to companies limited by shares, or loans to companies limited by guarantee. Our investment agreements can be found here: Convertible Loan Note (Template).
- How much funding can social ventures receive through Pathfinder Awards? Social ventures can apply for up to £40,000.
- What are the eligibility criteria for Pathfinder Awards? Applicants must be associated with a member university, have a business plan, financial cash flow, and a team, and demonstrate how the funding will accelerate their company towards investment or revenue.
- What is the application process for Pathfinder Awards? The application process involves submitting an application, attending pitch training, and pitching to the award panel.
ImpactU Membership
- How can universities become members of ImpactU? Universities can sign up via a Microsoft form. No formal contract is required, only a key contact point and a desire to support any applicants to the Pathfinder Awards.
- What are the benefits of being an ImpactU member? Member universities can access specialised training programs, be eligible for social ventures to apply for funding, and have networking opportunities.
- Can my university become a partner? Our core partner universities are Cambridge, Coventry, the LSE and Northampton. This is currently a fixed group to manage the delivery of the Research England award. Please flag your interest in becoming a partner university and what you would like to offer. We are currently exploring ways to get other universities more involved with ImpactU.
Governance and Decision-Making
- Who is responsible for the governance of ImpactU? The governance team, composed of representatives from partner universities, oversees the operations and decision-making of ImpactU. The University of Oxford is the lead on the Research England bid and responsible for overall administration of the programe.
- How are decisions made regarding Pathfinder Awards? Shortlisting is decided by the governance team. Award recommendations are made by the award panel, which consists of representatives from partner universities, angel investors, and impact investors. Oxford University Innovation (OUI) makes the final investment decision, based on award recommendations, on behalf of the University of Oxford, as it is the organisation which makes the investments into individual companies.
Other Questions
- Are their any specific resources or training materials available for Social Ventures? ImpactU Yes, ImpactU offers training programs for universities and founders across the UK. See our training page for more information.
- How can I get involved with ImpactU? You can become a member of ImpactU, apply for Pathfinder Awards, input on training or support ImpactU’s mission in other ways. Please get in touch if you would like to be more involved.
- What is the role of the Award Panel? ImpactU The Award Panel reviews and evaluates pitches from applicants, make recommendations for funding based on an Investment Criteria, and ensures a fair an unbiased selection process.
- Is there room to change the work package between application submission and pitching? The work Package can be adjusted between the application and pitch to the award panel. We understand that business priorities change as does other funding.
- Is Who will own the IP generated from ImpactU funding? ImpactU funding does not change the current or future IP position of the organisation
- Do companies need financials before entering the process? Companies need to submit these before the award panel. the number of participants in
- What are the Key metrics used to measure ImpactU’s Success? ImpactU measures its success by tacking the number of applications for the Pathfinder Awards, the number of participants in pitch training, participate in a Q&A at Social Venture Hub training programs, and the out comes of funded universities.
- What are the key metrics used to measure ImpactU’s success?
Ventures associated with UK universities are eligible to access ImpactU’s Social Venture Hub training. Only social ventures associated with English universities can apply for ImpactU’s Pathfinder Awards.
