
Impetus Trust invests £400,000 in Blue Sky
Venture philanthropy investor Impetus Trust has invested £400,000 in re-offending social enterprise Blue Sky Development & Regeneration.
Based in Uxbridge, Blue Sky works to break the cycle of re-offending, which costs the UK £12bn each year. It offers 6 months’ paid employment to people recently released from prison, to enable them to move into long-term employment. Stable employment has been shown to reduce the probability of re-offending by up to 50%. The re-offending rate among ex-employees of Blue Sky is one quarter of the national average.
Prior to the investment, Impetus worked with Blue Sky for one year, helping it to develop a scale-up plan, which it is now backing and which would see Blue Sky be able to employ seven times more ex-offenders.
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