£5m prize on offer at Social Entrepreneur Awards

Organisations that reinvest profits towards the greater good can bid for one of the UK’s largest ever funding prizes for social entrepreneurship.

Bank of Scotland Corporate, a corporate banking member of the HBOS Group, is running the Social Entrepreneur Awards, which will give away up to £6m.

It is offering two gifts: the first winner will receive £5m over three years or a one-off cash donation of £500,000.

The second winner will receive £1m over three years or a cash donation of £100,000. Each winner will also receive three days' mentoring from a well-known social entrepreneur.

John Taylor, head of specialist banking at Bank of Scotland Corporate, said social entrepreneurship is often overlooked in business and the awards would encourage and nurture not-for-profit endeavours.

"Not only will this award discover the UK's most exciting and aspirational social entrepreneurs, it will also provide the winner with a level of support that will revolutionise their organisation and allow them to expand their work," he said.

Entries can be submitted online through Bank of Scotland Corporate's website. The closing date for applications is Monday 23 February 2009 and the national final will be held on 25 June 2009. More information can be found here.

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