An enterprising joint venture Launch22
Launch22 is a unique partnership between LaunchPad Labs and Catch22. It is a joint venture that brings together our shared commitment to improving outcomes for less advantaged and underrepresented entrepreneurs of the future.
Catch22 has always been committed to taking an enterprising approach, our formation of The Philanthropic Society in 1788 aimed to ‘unite the spirit of charity with the principles of trade’. It is in this spirit that we embark on this innovative partnership to create a network of business incubators for young entrepreneurs.
Launch22 is a social business and registered charity run on start-up principles.
To be the primary organisation in the UK for early stage and less advantaged entrepreneurs seeking business support, which we will deliver through a network of at least 22 sustainable incubators offering workspace, mentoring and access to finance.
Hurdles faced by young entrepreneurs
Based on combined experience of working with young people, mentoring early stage entrepreneurs and what we’ve tested at Corsham Street, Launch22 solves three key issues.
Business incubator with a social mission
Social objectives for each Lab we open:
- at least 30% occupancy to less advantaged young entrepreneurs (scholars)
- 80% of scholarship entrepreneurs are still in enterprise or are in employment within six months of occupancy
- at least 20 young people every year are involved in meaningful work experience, placements or apprenticeships
- to provide an inclusive local community space for use by charities, social enterprises and social businesses.
Business objectives for each Lab that we open:
- to achieve 80% occupancy within 12 months of trading
- to break even within 12 months
- to help at least one business achieve external investment within 18 months.
For more information about Launch22 or if you want to get involved, please contact:
Sarah Sinnott, Director of Partnerships
020 7336 4800