A government-backed body set up to improve the social investment market has been launched today.
The Social Investment Research Council will draw together research commissioners from key organisations within the social investment market. The body has been formed jointly by the Big Lottery Fund, Big Society Capital, Citi, the City of London Corporation and the Cabinet Office.
The partners have initially contributed a total of £100,000 to the project.
The SIRC will operate through in-kind support from the partners, which will share resources and project-managing capacity.
The council’s research programme for 2013/14 will focus on improving the understanding of social investment market products and the specific investors needed to finance them.
Over the next six months, the council will call for ideas from researchers and other industry bodies for potential projects to add to the research programme agenda.
Nick O’Donohoe, chief executive of Big Society Capital, said: "The council will focus on projects with a potential to transform the social investment market, working in partnership to help understand what information is needed and ensure that those needs can be met.
"There is a lack of information in the market about how to deliver the right kind of investment products to attract investors, and the industry must work to commission research to help us meet this challenge."