A recycling firm based in Knowsley has been named one of the UK’s top 25 businesses worthy of investment.
Elixir Foundations won the £25,000 cash prize in the Big Venture Challenge, one of the country’s most prestigious enterprise competitions.
The competition recognised them as being among the most ambitious, commercially driven and sustainable social businesses.
Ben Donnelly, CEO of Elixir Foundations said: “We are delighted to have won this stage of Big Venture Challenge as we were competing against some of the best social businesses in the UK.
“We were chosen to be amongst the 25 for our commercially driven business model that makes positive changes in society and to the environment.
“The Big Society is something many people don’t quite understand, but organisations such as Elixir Foundations and the winners of this competition are driving this agenda forward.
“Our mission is to become fully commercially sustainable and provide people from vulnerable backgrounds the chance to transform their lives.”
Elixir Foundations was set up by Mr Donnelly in 2008. His vision is to generate profits through the creation of commercial opportunities that empower people to change their lives and the environment.
The firm aims to be acknowledged as a World-Class social business, challenging perceptions on how profits can be used for the benefit of people and the planet.
The 25 social enterprises announced by Big Venture Challenge represent the first round of prize giving.
Ten of the 25 will go on to win a further £50,000 with two of these winning a further £100,000.
The awards were designed to promote the benefits of investing in opportunities which are set up with a social mission.
Big Venture Challenge received 638 applications, with 41 shortlisted to attend a Dragon’s Den style interview.
The panel, consisting of Sinclair Beecham, Co-Founder of Pret A Manger, Simon Devonshire, CEO of O2 - Small and Medium Business, and Nick O’Donohoe, CEO of Big Society Capital, recognised Elixir Group for being an ambitious and dynamic enterprise which showed overwhelming potential for growth.
The money received by Elixir Foundations will be invested to create more job opportunities and skills training for vulnerable adults. Thanks to the Big Venture Challenge,
Elixir is now able to recycle all PVCu and other plastic piping, expanding their operational capacity as well as increasing the efficiency and frequency of their collection service. The £25,000 investment will help create 80 full time permanent positions.
Mr Donnelly added: ““Many companies see the value of working with a business such as Elixir Foundations.
“We are competitive, we offer a quality service and reinvest into our local community. This competition win will allow us to expand our operation further, offer more people training and employment and help transform our local community for the better.”
The Big Venture Challenge was set up by UnLtd, the national charity that supports social entrepreneurs, in partnership with The Big Lottery Fund.
Jo Hill, Director of UnLtd Ventures said: “The panel were really impressed by what Ben has achieved to date.
“The business growth of Elixir has been amazing, producing tangible social benefits for the beneficiaries and the environment.
We are very excited about the prospects for the future and we are looking forward to working with Ben in the coming year. We will be providing a package of financial and non financial support to help Elixir reach another level of business growth.”
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