Four organisations have teamed up to create a new initiative which aims to act as a one-stop-shop for social enterprises
A new project is aiming to become the centre of social enterprise in Scotland.
The Montgomery Street Lane hub, based in Edinburgh, is a collaboration between four of the country’s leading support agencies, Firstport, Challenges Group, Project Scotland and Volunteering Matters.
The founders said the initiative will provide a “one-stop shop” for ambitious social businesses and charities while also acting as a focal point for impact investors targeting enterprises that are addressing social challenges.
“The vision for Montgomery Street Lane is a bold one,” said Josiah Lockhart, Firstport’s chief executive. “We’re building an enterprise support network for social entrepreneurs and impact investors, for start-ups and SMEs looking to grow, expand and export. We’re focused on making it a place of optimism, opportunity and outcomes.
“We’re offering these individuals a place where key support services are in one location, and where each of the lane residents can collaborate on offering a joined-up and partnership approach to business development and growth.”
The four organisations behind the new Montgomery Street Lane venture have between them 90 years’ experience across a range of fields including business consultancy, management training, exports, seed funding, impact investment, business support services, volunteering , international development, marketing and communications, and project management. About 40 staff, as well as volunteers, will work out of the refurbished 19th-century mews houses just off Elm Row.
Alexandra Baker, director of Challenges, said: “Montgomery Street Lane is where an entrepreneur can come and have their business idea scrutinised, supported, and turned into a viable strategic plan that can then grow into a sustainable business. Together, Challenges, Firstport, ProjectScotland and Volunteering Matters bring a range of business options, such as management training, internships, volunteering opportunities, project management, and of course export and international market linkages. Seed funding and catalysing is another offering, as is investment should a business owner be looking to scale up, for example.”
Baker cited the example of Clean Water Wave, a social enterprise that has developed a revolutionary water filter system that can remove micro and nano-plastics as well as other toxins and pollutants from the water supply. “Clean Water Wave were introduced to us through Firstport and, through our Scottish Government-funded Access Africa Programme, we are now working with them to explore opportunities to provide clean drinking water in Rwanda and other African countries where we have a presence.
“Giraffe Healthcare, Lilypads and Bampoo are similar examples of social businesses that have worked with our Lane partner Firstport and then joined our AAP scheme to explore export opportunities.”
Paul Reddish, chief executive of Volunteering Matters and ProjectScotland, said: “The collaborative culture here at Montgomery Street Lane has significant advantages and, quite simply, means our combined offering is far greater than the sum of its parts. But it is also greatly benefits the residents here. It means, for example, the residents can partner on joint programmes, and we’re already seeing the fruits of that.”
