K10 | Big Society Capital
K10

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K10

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Social issue | 
Strategy area | 
Product theme | 
Region | 

K10 is tackling youth unemployment by providing apprenticeships in construction industry. It used social investment to grow its social business.

Problem 

In London, more than 100,000 16-24 year olds are currently unemployed. Yet over the past 20 years the number of construction apprentices has declined, making it more difficult for young people to develop the skills needed for a career in the industry.

Solution 

K10 identifies and places young people in apprenticeships across London in the construction industry. With the skills and qualifications that come with an apprenticeship, the young people have the foundation for a career in the construction industry

Revenue

Model K10 is an Apprenticeship Training Agency which employs apprentices directly, billing developers, contractors and subcontractors for the hours an apprentice works on site. Social investment was used to provide working capital to grow the team and build the business.

Impact

K10 now works with up to 400 young people each year, 85% of whom were previously unemployed. Their apprentices include those who would not traditionally have worked in the industry such as women (15%), ex-offenders (12%) and disabled people (10%).

K10 is creating apprenticeship opportunities across London that would otherwise not exist, closing the skills gap in the construction industry and improving the employment outcomes for hundreds of young people each year. We invested in the organisation so that it can scale up its activity and really make an impact for young people in the capital.

Raf Goovaerts, LGT Venture Philanthropy

I want to get a van, build a team and set up my own firm.

Richard, K10 apprentice

Key information

Duration | 
5 years
Cost of capital | 
Debt
Investment amount | 
£800,000