The IEP is a partnership of businesses, civil society and government departments that are working together to solve some of society’s toughest challenges, to help all communities and everyone within them feel they belong to and can participate in the UK economy.
Through collaboration, innovation and a shared determination to make the UK a better place to live and thrive, the IEP is part of a growing global movement that’s trying to solve age-old problems with new ways of thinking.
Through the IEP, we believe it’s possible to drive transformational change through scaling solutions to maximise their impact. Nesta’s Inclusive Economy team are working to develop a replicable model for tackling big societal issues through partnerships.
Nesta is running the Partnership Accelerator for the IEP. The Partnership Accelerator focuses on supporting 18 IEP Grant Winners across three challenge areas to scale through meaningful partnership with business, civil society and government. The three challenge areas are:
- Financial inclusion and capability
Ten million working people lack access to affordable and high quality financial products and services.
The IEP aims to provide the financially ‘underserved’ with the tools and capabilities to access and interact with fair financial products; products which will help individuals to manage problematic or persistent debt, to gain access to affordable credit options, and to create a savings buffer as part of healthy day-to-day budgeting.
2. Mental health
Mental health problems are one of the largest public health challenges facing the UK, with one in four people suffering from a mental health problem annually.
The IEP is working to enable businesses to positively impact the mental health of their employees, customers, suppliers and wider communities. By supporting businesses to implement changes within their organisations, the mental health of employees can be improved. Tools and training development can support employees and line managers, and improving the mental health of customers, communities, supply chains and SME networks will help address this challenge.
3. Transition to work for young people
Young people in the UK are over 2.5 times less likely to be employed than the average for the working age population.
The IEP supports the movement of young people from education, unemployment or inactivity into jobs. It aims to achieve this through building engagement with the world of work through platforms that link employers to schools, young people and their parents or carers. It will also support activities for young people that help them to gain access to skills and experiences that develop their resilience and employability.
In addition, it will support businesses to adapt their processes for hiring, structuring roles and engaging new employees so that young people can be supported to successfully progress.
Collaborations are developed for lasting impact, and the IEP programme is designed for innovative and promising ideas to be supported in achieving change in our core challenge areas.
From March until September 2018, Nesta’s Partnership Accelerator is:
- Supporting grant winners reach a point where they are ready to scale their activity and deliver greater impact. Valuable contributions from business and civil society partners include but are not limited to: access to potential customers or beneficiaries for the applicant’s offering; marketing; training; operational and/or strategy expertise.
- With support from business, civil society and government, providing greater access to partnership networks and sources of capital to support grant winners to scale.
- Hosting workshops and informative events targeting key areas relevant to the IEP and specific challenge areas; from the role of impact investment to impact evaluation.
- Working to ascertain whether the IEP’s model can be iterated, developed further and be applied to additional key societal issues.
The partnership is supported by the Cabinet Office and the Department for Digital, Culture, Media and Sport (DCMS).