Inspiring Scotland announces investment in young people

Inspiring Scotland announces investment in young people

News

Less than twelve months on from its inception Inspiring Scotland has announced it will invest £55m of cash in 24 charities over the next ten years through its 14:19 Fund, which is targeted at improving the lives of 14-to-19 year olds who are struggling to make a successful transition from school to the next stage of their lives.

“We are really excited by the work the 24 charities we’re investing in will deliver across 17 local authorities in Scotland.  56,000 vulnerable 14-to-19 year olds will receive support over the next ten years, and we are excited by the prospect that 35,000 of them will end up in education, employment or training because of this investment,” explained Andrew Muirhead, Inspiring Scotland’s Chief Executive. 

The number of 16-19 year olds not in employment, education or training in Scotland was estimated to be 32, 000 in 2007, which represents 12.2% of all 16-19 year olds.

As reported in the March 2008 issue of the Philanthropy UK Newsletter, Inspiring Scotland will bring together money invested by philanthropists, grant-making trusts and foundations, business investors and government funds. 

The 14:19 Fund continues to be open for investment and Muirhead anticipates that it will continue to attract funding of up to another £67m.

The Scottish Government is investing more than £9m over the next three years. Fiona Hyslop, Scottish Cabinet Secretary for Education and Lifelong Learning said of the investment: “In these difficult economic times, it’s crucial that we equip our young people with the skills to reach their potential and contribute to a more successful Scotland.”

“This is about much more than money,” said Muirhead. “As well as developing the charities, it is creating links between them and the business community and has attracted a high level of interest including internationally.” 

Developed by Lloyds TSB Foundation for Scotland, Inspiring Scotland will become a stand-alone organisation from January 2009, and the new Chair, to take up the post in January, is Professor Niall Lothian. He will bring experience from the public, private and non-profit sectors to the organisation.