A new business support service for people who want to make a better future
Future Business launches with £2.5m support from local company TTP Group
Cambridge-based social enterprise Citylife has launched a new business support service for people who want to make a better future.
The new name ‘Future Business’ brings together a range of Citylife’s activities including business advice, affordable workspace and tools to help organisations measure their social impact. The service is now looking to grow, and is already off to a flying start with a commitment of a £2.5 million investment from local company TTP Group in one of Citylife’s charitable bonds to support the development of a brand new incubation centre for social and environmental businesses. The unique charitable bond allows for immediate funding of the new centre while ensuring that the money is returned in full to TTP five years later.
Tim Jones, chief executive of Citylife, explains the choice of name: “Future Business is about two things. First we want to help businesses have a better future – encouraging enterprise to create employment and a stronger local economy. But we also want to help businesses think about how they can make a better future for everyone.”
Future Business supports people at every stage, from exploring the idea of becoming an entrepreneur to advising established businesses on improving their social impact. It works with all kinds of organisations, but focuses particularly on helping people who want to make more than just profit.
The new service was officially launched last night at Citylife’s Social Enterprise Centre with Julian Huppert MP. He said, “There are two critical challenges facing our country – building our economy and encouraging a stronger, bigger society. The work of Future Business is playing a vital role on both those fronts.”
Also attending the launch was Gerald Avison, chairman of TTP Group whose £2.5 million charitable bond investment to support the creation of the new Future Business Centre is being announced today at the Cambridge Phenomenon Conference.
Dr Avison explains, "Social and environmental enterprises are an essential part of the fabric of the community. In some ways though the success of the high-tech sector in Cambridge actually makes it harder for such enterprises to survive and grow. This bond is therefore a fantastic way for us – and other Cambridge companies – to use our success to make a better future for Cambridge."
Future Business is now inviting other local companies and individuals to give their support, either through investment in a bond or sponsoring other business support services.
To find out more how Future Business can help you – or how you can help Future Business – visit www.futurebusiness.co.uk or call 0845 456 2432.
About Future Business
Future Business is a new business support service from Citylife for people who want to make a better future. It provides advice, affordable workspace and social impact measurement at all stages of business development from entrepreneurs with an idea to established organisations.
For more information visit www.futurebusiness.co.uk
Citylife is a social enterprise supporting causes that give people a better future. Its charitable bonds provide a unique and innovative way to raise new funds for social benefit.
From November, Citylife will be rebranding as Allia – the social profit society. This will be followed shortly afterwards by the launch of a new investment service, making its bond mechanism available as a fundraising tool for all charities working to give people a better future.
For more information visit www.citylifeltd.org
About TTP Group plc
TTP Group plc is Europe’s leading independent technology, product development and incubation company and its primary objective is to create new business based on advances in technology. It is the holding company for The Technology Partnership plc, TTP LabTech Ltd, TTP Venture Managers Ltd, Melbourn Science Park Ltd, and Tonejet Ltd. The company, established in 1987, is headquartered on Melbourn Science Park (near Cambridge, UK) and currently employs over 300 people in its businesses, the majority of whom are scientists and engineers.
For more information visit www.ttpgroup.com.
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