Cambridge City Council has helped unlock £6.25 million to support local people facing poverty, homelessness, and inequality. The funds will back long-term projects helping disadvantaged young people, families in crisis, care-experienced young people, and people experiencing homelessness.

The initiative, called Greater Cambridge Impact (GCI), was sparked by the council being a founding investor, making an early £1 million commitment to get the initiative off the ground. That commitment helped bring in an additional £5.25 million from public, civic and private partners, with more support expected in the coming months.

Antony Ross, OBE, GCI Development Board Chair explained: “The council’s leadership has been pivotal in bringing together public, private, and philanthropic funds to help tackle inequality in the region. Its early commitment helped turn an idea into a credible, shared approach and gave others the confidence to step forward.”

In a city known for innovation and wealth, too many residents still struggle with rising costs, housing pressures, and limited opportunities. Greater Cambridge Impact is designed to ensure that some of the city’s prosperity is channelled back into communities that need it most – creating lasting change rather than short-term fixes.

GCI takes a different approach from traditional grant funding. Rather than one-off awards, it provides repayable finance – such as loans – to charities and social enterprises. The returns can then be recycled to support future projects, creating a sustainable cycle of investment, bringing long-term backing to initiatives that can demonstrate measurable impact.

Cameron Holloway, Leader of Cambridge City Council, said: “This shows what can be achieved when we work together for better outcomes in our city. The council has provided leadership and upfront capital to bring in significant funding to tackle inequality. Greater Cambridge Impact is about supporting change that lasts, and ensuring Cambridge’s success benefits everyone.”

Rather than short-term funding, Greater Cambridge Impact has been designed to support long-term collaboration - creating the conditions for practical solutions to take root and endure. Greater Cambridge Impact represents a new approach for the city: using its collective strength to ensure that opportunity and prosperity are shared more fairly across Greater Cambridge.

The council’s early commitment has unlocked further investment from Better Society Capital, the Cambridge Building Society, Cambridgeshire and Peterborough Combined Authority, The Church of England’s Social Impact Investment Programme, Esmée Fairbairn Foundation, Suranga Chandratillake, and The Cambridge Pledge Foundation.

Simon Smith, Cambridge City Council’s Cabinet Member for Finance and Resources, said: “Many of the challenges facing our communities are complex and deeply rooted. By working alongside civic, regional and philanthropic partners, we are helping to invest in evidence-based ways of tackling the root causes of lost life chances.”