Prosper case study: how Coney Limited set a path to innovation in repayable finance
Coney Ltd are ‘interactive theatre-makers who create games, adventures and play where people can choose to take a meaningful part’. Their work takes place anywhere that people gather: theatres, schools, museums, on the streets and online, following the principles of ‘adventure, curiosity and loveliness’.
Use of Prosper
Coney Ltd used virtually all of their credits of the Prosper programme on a Business Advisor, and accessed the Webinar ‘Introduction to Theory of Change’.
Key business outcomes
Coney Ltd reported the following business outcomes of Prosper regarding new and diversified funding streams and investment readiness:
- Received support from NESTA’s ‘Arts Impact Fund’ as a (necessary) social investor supporter for Coney to apply for and receive ‘Reach’ grant funding (£15,000) from the ‘Access’ organisation.
- Progressed towards their aim that types of repayable finance will fund arts-based support activity for ex-offenders who are on probation via their becoming a service provider for local authorities.
- Set a path to innovation: the repayable finance is founded on a revenue-based project with social outcome indicators (ex-offenders do not go back into custody). The arts is not commonly involved in this kind of finance.
For Coney, Prosper was a major success: “It [Prosper] has done absolutely everything we hoped it would do… The worth of [the Business Advisor] is in the many thousands.”
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