Social Impact Summary
CyberFirst - 2023
£1.57m Social Value
It is expected that it will take around five years for industry to begin to feel the reward of the CyberFirst programme in the North West
We have spoken with a variety of key stakeholders throughout the evaluation process and made a robust assessment of activities in line with the Social Value Quality Mark (SVQM) nationally recognised standards. We are confident in the results established through our independent evaluation, identifying over £1.57m of social value being created along with a social return on investment (SROI) of £2.57 against every £1 invested.
The main areas for the creation of social value revolved around education and skills development along with charitable activity from IN4 Group and industry partners. This has enabled individuals from some of the most deprived areas of the country (based upon the government’s Index of Multiple Deprivation), the chance to begin their journey to become trained and upskilled to take advantage of the future opportunities that will
become available within the North West Cyber Corridor. This strategic investment is invaluable to ensure demand can be met for the industry partners who will be offering these opportunities. It also helps schools and colleges to shape future provision, giving their students both an improved outlook and prospects with the goal of becoming part of the new workforce of the future in cyber and tech.
£2.57 Social Return on Investment
Dave McGuinness - Social Value Business
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