City & Guilds announced that it is investing £7.5 million in the creation of two new impact funds – the Skills Development Fund and the New Venture Fund. These two funds have been very important to the social initiatives of City & Guilds.
City & Guilds is investing an amount of £2.5 million through the New Venture Fund to support innovation in the field of education and skill development. It will provide funding in exchange of an equity stake in the companies. John Yates, New Ventures Director at the City & Guilds Group, said, ‘This Fund is all about supporting innovation and entrepreneurship by helping grow the businesses of entrepreneurs who are committed to skills development.’
The remaining £5 million will be invested to create a Skills Development Fund for social projects to help people and communities in their skill development. The Skills Development Fund will support projects and communities to create long-term, sustainable change by improving skills.
The group Chief Executive Chris Jones said: ‘Everything we do is about developing skills to fuel business and economic growth. These two new funds do that in a big way by unlocking opportunities to support global skills development.’
The City and Guilds of London Institute (City & Guilds) is a vocational education organisation in the United Kingdom. City & Guilds offers more than 500 qualifications over the whole range of industry sectors through 8500 colleges and training providers in 81 countries worldwide.
To read more about the company, visit http://www.cityandguilds.com/.