Our targeted approach
Local authorities are under increasing pressure to reduce costs as a result of significant funding cuts. Here at London Ventures we identify and develop innovative solutions to address London's biggest problems, providing a reduced risk environment to test new approaches quickly. We collaborate across sectors to develop ideas, so it’s very important to us to harness local and technical expertise within each local authority.
Over the last year we’ve been speaking to local authorities about how we could improve the London Ventures programme. The feedback we received was that we could make a real impact by doing some targeted work around the key issues they were facing. In response to this we’ve been looking at how we can drive sustainable change and transformation to tackle London local authorities’ biggest challenges.
This work will complement our venture partner portfolio.
Our first stragetic issue
We are going to run a series of campaigns targeted at the key issues that local authorities have identified. We will bring together people from a range of sectors who have a shared ambition to address these problems, working together to come up with innovative solutions.
The first strategic issue that we will be tackling is homelessness, housing and temporary accommodation.
We know there is not one single solution. Our aim is to highlight the great work that is already happening in this area, source and develop new ideas through extensive engagement, and problem solve with input from across sectors to improve outcomes for Londoners.
What is the context in London?
The number of homeless individuals has been steadily increasing in recent years due to a combination of socio-economic factors including welfare reforms, reducing numbers of council owned homes and the increasing cost of renting privately.
These effects have been magnified in London where the shortage of affordable housing is particularly severe and rents have increased faster than in any other English region.
This has led to an increase in the number of individuals and households who are unable to pay for rent and have become homeless or stuck in temporary accommodation for long periods of time. In London the increase in the number of households accepted as homeless is much higher than the national average.
The likely cost of temporary accommodation across London in 2014/15 was close to £663m.
In London there was a 77% increase in homelessness acceptances between 2010 and 2014.
In 2014 there were more than 250,000 households on waiting lists for social housing across the capital.
We are looking for:
1. Ideas - to change the landscape
2. LAs - to champion solutions
3. Investors - to invest in social change
Find out about how we could help you develop an idea or solution here.