Applications Now Open for a New Round of Investment Readiness Funding

Applications Now Open for a New Round of Investment Readiness Funding

In 2019, Community Foundations of Canada, alongside the Government of Canada and several partner organizations, announced the Investment Readiness Program (IRP), a program that helps social purpose organizations advance their social enterprises to prepare to seek and accept investments. The goal of the IRP is to support these organizations move towards receiving social finance investment, including through the Government of Canada’s Social Finance Fund. CFC held its first round of funding through the IRP in winter 2020, the results of which are now publicly available.

Across Canada, 257 organizations have received IRP funding in CFC’s first funding round. In London, LCF has awarded $182,950 in funding to 5 organizations. Visit IRP-PPI.ca for more details about CFC’s funded projects, as well as projects funded through the various partner organizations.

Investment Readiness Program: Round 2

We are pleased to announce the dates for the next application period for IRP funding via Community Foundations of Canada. From September 8 to October 9, 2020, social purpose organizations will be able to submit applications for projects to advance their readiness to receive investments.

“As Canada prepares for pandemic recovery, we don’t want to go back to the status quo,” says Andrew Chunilall, CEO of Community Foundations of Canada, a national partner in the Investment Readiness Program. “A social finance sector that is ready for investment can grow and play a stronger role in building more resilient and sustainable communities, where economic opportunities are fair and the benefits of wealth are shared.”

Eligible organizations could receive from $10,000 to $100,000 in non-repayable capital to develop their enterprise. Charities, non-profits, co-ops and for-profit social enterprises, may all apply if they have an existing business or a business idea that fits the definition of a social enterprise — selling a good or service with some profits going back into their mission to provide a positive social, cultural or environmental outcome.

Find all the details to apply here.