Investment banking firm Morgan Stanley is offering 10 good causes £100,000 each to fund ways to improve young people’s health, mental wellbeing and education.

The awards are to help “scale pioneering projects, connect ideas with capital and build capacity for charitable organisations” and are being offered through its inaugural EMEA Impact Through Innovation Awards.

This is open to charities based in EMEA regions where Morgan Stanley is present, including the UK, who have an annual total revenue under £5m.

Charities with revenue above this figure can still apply but they “must demonstrate why existing funds cannot be used to support the proposed initiative”.

The bank added: “We are looking for new or piloted projects from charities that will provide innovative solutions to positively improve outcomes for children and young people. Projects must tackle specific issues and address unmet needs”

Its panel of judges will decide on the allocation of funding based on criteria including whether the charity is presenting an “inventive solution” to supporting young people and has the expertise to carry out and evaluate the work.

Whether the initiatives can be scaled up to support young people across in other areas is another priority of the funding.

The deadline for applications is 7 July.

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