Elixir’s £25,000 prize win will lead to 80 jobs

KNOWSLEY-based Elixir Foundations has won £25,000 in the Big Venture Challenge, allowing the company to expand its services.

Set up in 2008, Elixir offers PVCu , paper, cardboard  and polythene recycling under the Elixir Recycling name. Elixir Housing offers property maintenance and garden clearance; while the group also offers training and charitable services for socially excluded groups. It employs vulnerable adults such as the  homeless, recovering addicts, ex-offenders and long-term unemployed.

Elixir Foundations currently employs 15 staff and last year turned over £2.2m.

The social enterprise said it expects the £25,000 investment to create 80 full time jobs over the next three years, as it will enable the recycling arm to recycle all PVCu and other plastic piping, expand operational capacity and increase the frequency of its collection service.

Ben Donnelly, chief executive of Elixir Foundations said: “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.”

In awarding the £25,000, the Big Venture Challenge competition recognised Elixir as one of the UK’s top 25 social businesses worthy of capital investment.

The firm was commended for being amongst the most ambitious, commercially driven and sustainable social businesses in the country.

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).

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.

The Big Venture Challenge was set up by UnLtd, the national charity that supports social entrepreneurs, in partnership with The Big Lottery Fund.