Deadline: 19 May 2019
The Impact Investment Ready is currently accepting applications for Growth Grant to provide capacity building grants of up to $140,000 to mission-driven for-profit and not-for-profit organisations, allowing them to secure investment capital to scale their social impact.
Funding Criteria
The support needed is largely dependent on the characteristics of applicant’s organisation, but often includes:
- Financial modelling and preparation of the investment case
- Preparation of term sheets, legal documentation and information memorandum
- Review of the organisation’s constitution and legal structuring
- Liaison with and introductions to investors
Growth Grants do not fund:
- Costs for ongoing operations of applicant’s organisation and overhead costs (e.g. rent, insurance, wages, admin)
- Early stage trials (product, clinical, MVP-stage)
- Marketing, branding and customer acquisition
- Retrospective funds (support for activities which have already taken place)
- Travel costs (except those related directly to the capital raising e.g. investment roadshow)
- Capital raising for black box funds unless directly related to existing and proven business
Outcome Areas
They encourage applications from all organisations that focus on one or more of the following outcome areas:
- Early Childhood & Education
- Employment, Training & Participation
- Housing & Local Amenity
- Physical Health & Disability
- Indigenous People
- Family, Communities & Inclusion
- Income & Financial Inclusion
- Mental Health & Well- Being
Eligibility Criteria
The key eligibility criteria for grant applicants are:
- Applicant’s organisation is based in Australia
- Applicant’s organisation has a mission at its core that aims to solve a predominantly Australia-based social problem
- Applicants have a sustainable and validated business model and a solid track record with the product/service they are planning to scale
- Applicants are planning to raise equity and/or debt financing within the next year
- Applicants are planning to use the grants funds to pay for external capacity building support that helps them to raise capital.
Assessment Criteria
The Growth Grant Panel considers a range of factors when assessing the applications. The most important ones include:
- What is the grant leverage, i.e. the ratio between investment sought and grant amount?
- How does the organisation measure the social impact?
- Is the organisation able to self-fund the Provider’s fees?
- Is the organisation led by a capable and experienced team?
- Do the organisation and the Provider have a clear understanding of the funding they are seeking and potential investors?
How to Apply
Applicants can submit their Expression of Interests via given website.
Eligible Country: Australia
For more information, please visit https://impactinvestmentready.com.au/growthgrant-application
