What:
CIC’s are organisational structures used by enterprises driven by a social mission, such as social enterprises. Although they function as limited companies, they operate primarily to benefit stakeholders such as community members, rather than for private monetary gain. Unlike charities, CIC’s can pursue profit; however, this must be used in ways that prioritise stakeholders over shareholders – such as being reinvested to achieve their social objectives.
What is specific to this model relates to the legal requirements to set up and run a CIC. Founders must create a community interest statement that outlines how the company will work to serve its community. They must also put in place an asset lock, which ensures that the company’s assets will be used to fulfil its social obligations and which limits the amount of profit shareholders can access. As this model is regulated, the organisation must also complete yearly annual reports that detail how they are adhering to their responsibilities and achieving their social mission.
Examples:
Deep tech ventures that operate via a CIC model are scarce. There are, however, some organisations that are working in adjacent areas. Data, Tech & Black Communities CIC, for example, is registered as a CIC and operates in information technology consultancy. They work to ensure that data-driven technologies such as AI benefit Black communities.
Considerations for deep tech:
- Deep tech ventures typically require large capital investments. Although CIC’s can raise funds, they are also subject to restrictions such as asset locks and limitations on how profits are used. This may make the model less attractive to investors seeking returns on investments. A deep tech CIC organisation would need to consider alternative funding routes.
- CIC organisations are also required to provide ongoing evidence that they are meeting obligations that inform their social mission. For a deep tech venture, founders would need to consider how their work would satisfy these requirements and ensure they are focused on a clear social purpose that can be evidenced.
More information:
Boeger, N., Burgess, S. and Ellison, J. (2018) ‘Lessons from the Community Interest Company’, in Boeger, N. and Villiers, C. (eds.) Shaping the Corporate Landscape: Towards Corporate Reform and Enterprise Diversity. Oxford: Hart Publishing, pp. 347–364. Available at: University of Bristol Research Portal PDF (Accessed: 12 August 2026).
GOV.UK (n.d.) Setting up a social enterprise. Available at: https://www.gov.uk/set-up-a-social-enterprise (Accessed: 12 August 2026).
Office of the Regulator of Community Interest Companies (2025) Community Interest Companies Guidance. GOV.UK, updated 4 April. Available at: https://www.gov.uk/government/publications/community-interest-companies-how-to-form-a-cic/community-interest-companies-guidance-chapters (Accessed: 12 August 2026).