A recruitment project helping people from poor backgrounds in east London find jobs has been shortlisted for a share of a £40 million government regeneration and business fund.

The new London Works agency could get £100,000 if it’s selected by City Hall’s Enterprise Panel.

It was set up three years ago by the East London Business Alliance and now finds placements for 1,000 people a year in the financial and business services industries.

The Business Alliance’s chief Liam Kane said: “We have confidence in the skills, ability and employability of youngsters in east London. This agency is a route to skilled and well-paid jobs and we’ll do our part in getting them there.”

London Works, with its social purpose helping talented people from low income backgrounds, is on a shortlist of four projects drawn up by the Enterprise Panel from 32 projects bidding for a share in the £40m ‘Growing Places’ fund from Whitehall, which includes £25m for small and medium businesses.