The Investment and Contract Readiness Fund was a £10 million fund, managed by Social Investment Business on behalf of the Cabinet Office. It aimed to help social ventures secure new forms of investment and compete for public service contracts. This interim report, published in April 2014, analysed the initial performance and made six recommendations on how the fund could be improved.
- Increase transparency of provider performance.
- Improve feedback from panel to applicants.
- Enhance the contract experience on the panel.
- Reduce or remove the direct grant to ventures.
- Improve the predicatability of the fund.
- Enhance the role of the fund administrator.