City Gateway gets £250,000 boost from Impetus-PEF to help jobless into work
- Credit: Matt Writtle
A private equity foundation is giving £250,000 from its venture philanthropy programme to east London’s City Gateway charity for its campaign to get disadvantaged families trained for work.
The Impetus foundation is also giving expert management guidance on governance, IT, finance and funding strategies as well as access to pro bono advice from expert business consultants.
The foundation provides youth charities and social enterprises with long-term funding and sustained strategy advice to help reduce chronic youth unemployment.
“The labour market has changed dramatically over the last 20 years,” Impetus-PEF chief Daniela Barone Soares said. “Many young people have been left behind as a result.
“It’s not lack of jobs in places like Tower Hamlets that’s the problem, but lack of qualifications and being able to show from Day-1 the skills and personal qualities employers now expect.”
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City Gateway, which recently moved to new headquarters on the Isle of Dogs opened by the Duke of York, helps those excluded from the jobs market into employment by overcoming obstacles such as poor language, lack of skills and safeguarding risks.
Its chief executive, Eddie Stride, said: “This cash will help us lay the foundations for future sustainable growth.
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“We’ve been tackling youth unemployment for 15 years and got 2,000 people into training and apprenticeships last year alone.”
The charity arranges apprenticeships with 120 corporate organisations and its own social enterprises with alternative education provision that is recognised nationally.