Grants of 50,000 will be made available to four different projects in the first year and the charity is now seeking applications from bodies working in four keys areas - illness and disability, poverty and disadvantage, abuse and neglect, and homelessness.
The large grants programme will run alongside the charity's small grants initiative, which last year awarded more than 500 grants totalling 750,000.
The charity has not shied away from funding innovative schemes or projects tackling difficult issues, including a scheme that supports teenagers with HIV.
Director Annabel James said the charity would not be afraid to continue to seek out innovation when allocating larger sums: "Because of what we do in terms of music and entertainment and our position being close to Capital Radio, we're happy to get involved with quite edgy or outlandish projects - we don't need to go down the safe route.
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