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Careers & Enterprise Company will use new £5 million investment fund to help improve life chances of young people across country New fund follows research identifying ‘cold spots’ where careers and enterprise provision is weakest Part of £20 million Government package to help young people from every background succeed

27 OCTOBER – LONDON - A £5 million Investment Fund to transform the careers prospects of young people most in need of support was announced by the government-backed Careers & Enterprise Company today.

Organisations with a strong track record in helping young people who have previously lacked good quality careers and enterprise support will be able to bid for money from the fund.

The announcement of the fund follows research carried out by the Company identifying the "cold spots" across England where young people are missing out on the support needed to help them prepare for, and take control of their futures.

The fund comes out of a £20 million package announced last year with the launch of the Company, and is part of the Government’s One Nation commitment to improve the life chances of all young people, regardless of their background or circumstances.

The Rt. Hon. Nicky Morgan, Secretary of State for Education, comments, "It is a commitment to social justice that drives this Government’s determination to ensure all young people, regardless of their background, have the chance to unlock their full potential.

"The Careers & Enterprise Company’s Investment Fund is exactly the kind of initiative that will encourage schools and colleges across the country to share best practice in careers provision and focus attention on areas where intervention is most needed, improving the life chances of young people from our most challenging communities."

Claudia Harris, CEO of The Careers & Enterprise Company, comments, "There is already a lot of excellent careers and enterprise provision in the country but coverage can be patchy. This fund is intended to scale quickly, approaches with a strong track record and support areas and groups with greatest need. Building on what works and helping to fill gaps is at the heart  of our approach to inspire and better prepare young people for the changing world of work."

Michael Davis, Chief Executive of the UK Commission for Employment and Skills, comments, "We’re delighted to see the UK Commission’s cold spot analysis being used to prioritise resources and drive actions on the ground, and we are working with The Careers & Enterprise Company to track the impact this work will drive."

Ian Peters, Director of Customer Facing Strategy at Centrica, comments, "The Careers & Enterprise Company is the best opportunity we have had in a long time to enhance employment prospects for those not moving into full time education. The Investment Fund provides a mechanism to kick start coordinated activity in the "cold spots" where support is most needed."

Sir Kevan Collins, Chief Executive of the Education Endowment Foundation comments, "The EEF believes that better use of evidence can make a real difference for young people from all backgrounds in fulfilling their potential and making the most of their talents. We welcome The Careers and Enterprise Company’s evidence-led approach to prioritising their investment fund in parts of the country where attention is most needed."

Dr Ann Limb, Chair, South East Midlands Local Enterprise Partnership comments:

"The Careers & Enterprise Company has pulled together this prioritisation data in a helpful way, backed by a new Investment Fund that can identify and focus help for young people in parts of the country where employer engagement and careers and enterprise provision has so far been difficult to reach."