A new chapter: SIB appointed to deliver the £400m+ Youth Matters Fund
Today marks a significant moment for Social Investment Business (SIB) as we share the exciting news that we have been appointed by the Department for Digital, Culture, Media and Sport (DCMS) to deliver the £400m+ Youth Matters Fund. This is not only the largest investment in the youth estate for half a century, but also the largest programme SIB has ever managed.
This is an opportunity for us to build on the success of two major programmes we’ve recently delivered with government: the £300m Youth Investment Fund and the £30.5m Better Youth Spaces programme, each investing in the spaces, activities and opportunities that help young people to thrive.
Today, one in four young people live within walking distance of a new or improved youth service, supported through these two funds. With the addition of the Youth Matters Fund, we will have worked with government to bring nearly three-quarters of a billion pounds of investment into the youth sector: helping organisations create, improve and expand the spaces where young people can meet, develop and feel part of their communities.
A significant milestone for SIB
We’re incredibly proud of what has been achieved so far, and grateful for the trust that DCMS has placed in SIB to deliver this next historic investment for the youth sector. We don’t take that responsibility lightly.
For our team, today’s news is an opportunity to put everything we’ve learned into practice, but also to build on it in new ways. We’re particularly excited about the ways this fund will embed youth voice throughout design, delivery and governance of the Fund, making sure decisions are shaped and led by young people.
Being appointed to deliver the Youth Matters Fund is a recognition of the experience we’ve built, the relationships we’ve developed across the sector and the hard work of the people behind these programmes.
At SIB, our work has always been about getting the right funding to the organisations making a real difference in people’s lives, often in communities where investment is hardest to access. Through grants, blended finance, outcomes contracts and other approaches we’ve delivered £0.85bn to more than 6,000 local charities, community organisations and social enterprises.
This year, SIB also delivered the first round (£37M) of the UK Government’s £500M Better Futures Fund, supporting locally focused approaches to complex social challenges affecting children, young people and families. Looking forward, SIB has been selected to deliver the £50M Liverpool Pathfinder Fund, a pioneering place-based programme that aims to transform access to finance for social enterprises and unlock inclusive economic growth across the Liverpool City Region.
Looking to the future
Following today’s announcement, we are working at pace to ensure everything is ready for a smooth, accessible and impactful launch early in the new year. We’re also pleased to share that we will be working on this Fund alongside our partners, National Youth Agency, UK Youth, UK Community Foundations, Young People’s Foundation Trust, Turner & Townsend and Sharpe Pritchard. Each bring specialist expertise and skills that will ensure the programme is a success.
As a group, we know how important this funding will be: too many young people don’t have access to the youth services and safe spaces they need, while the organisations working closest to their communities continue to face significant pressures.
The Youth Matters Fund gives us an opportunity to build on the progress already made, and work in partnership with young people to support the organisations that are so important to their communities. We’re really pleased that, alongside major capital investment in buildings and equipment, the Youth Matters Fund will also bring substantial revenue for youth work roles, and other staff, in local youth organisations.
We know from our experience that investment in youth provision is about much more than buildings. It’s about the people who work in them, the relationships they build and the opportunities they create. Getting that investment right can have a lasting impact, not just on individual young people but on the communities around them.
We’re excited to begin this next chapter with DCMS and our partners, and we’re proud to be playing our part to make the ambitions of the Youth Matters Fund a reality.
You can explore which areas are eligible for the Youth Matters Fund, and sign up for updates as we prepare to launch, at: youthmattersfund.org.uk