The Impact Investment Network (IIN) has officially launched to raise investment and accredit the impact of businesses in the North.
Spearheaded by Debbie Ryan, IIN is a partnership of value-driven businesses working collectively to empower both public and private companies to grow in a sustainable and ethical way.
The new venture has evolved from the Social Stock Exchange (SSX) – launched by David Cameron in 2013 – and is now the only company in the UK licensed to deliver SSX accreditation.
An impact business is one that is focused on the specific positive outcomes that are created from the business, whether that be for employees, communities, customers or the environment.
IIN has three aims:
– To accredit business with the SSX impact standard to assure investors and customers of ethical standing.
– To support accredited business to raise investment and get impact businesses investment ready.
– Provide a network of likeminded businesses that can trade through an internal marketplace, come together through an events programme and share success through communications channels.
With 46 members already signed up, from major housing associations, clean tech and waste disposal organisations, IIN will now look to expand the network of members and investors over the next 12 months. The current membership has a combined revenue value of £2bn with members turnover ranging from £700k to £1.5bn
With its corporate finance partner, Amberside, IIN is currently working on capital raises in excess of £200m, ranging from deals to renovate housing stock to development of technology platforms and energy assets.
Debbie Ryan, CEO of IIN commented:
“The UN Sustainable Development Goals set out a clear framework that businesses and investors should be aiming for. Our vision is to help them on that journey. We believe major investment into impact businesses does not only have to happen in London and our work here in the Northern Powerhouse is showing there are some excellent opportunities for investment, but there is also a need to support the impact sector to become investment ready.
“The UK as a whole needs to unlock the potential of impact businesses to ensure the Government’s Industrial Strategy is sustainable in every sense. As our local and combined authorities prepare their plans for their Local Industrial Strategies, we believe impact businesses should have a voice at the table. These are the businesses set up to deliver the inclusive growth we are striving for.”
Photo – Debbie Ryan