Investment Readiness Program in Canada

Deadline: 22-Nov-22

The Community Foundations of Canada and the Foundation for Black Communities are delivering the Investment Readiness Program (IRP) with support from the Government of Canada.

The Foundation supports social purpose organizations as they contribute to solving pressing social, cultural and environmental challenges across Canada.

IRP is currently open for an additional round of applications thanks to the renewed $50 million investment from the Government of Canada. The IRP is supporting social purpose organizations as they recover from the pandemic and build more resilient communities for the future. Its goal is to help social purpose organizations build their capacity to participate in Canada’s growing social finance market and prepare themselves to be able to take on investments.

Funding Information

• Your social purpose organization can apply for amounts ranging from $10,000 to $75,000. Applications for more or less than the permissible amount will not be considered. Your organization will need to determine which of the two funding streams you will submit your application to.
• Your options are the Explore stream ($10,000 – $25,000) or the Stabilize and Build stream ($30,000 – $75,000).
• Explore stream (Up to $25,000)
  • This stream is for social purpose organizations that are:
    • At the early stages of exploring, developing and testing their social enterprise idea. You may be researching, developing and testing different aspects of your social enterprise plan, such as your revenue-generation models. OR
    • In need of technical assistance or support on a very specific aspect of your project, that will assist you in launching or growing your social enterprise, or in preparing you to take on investment. This may include items such as accessing legal advice, market expertise, etc.
• Stabilize and Build stream ($30,000 – $75,000)
  • This stream is for social purpose organizations that already have a well-developed enterprising model and are farther along in their understanding and preparation for taking on investment. Your organization is ready to take on a big project to increase your organization's impact and get one step closer to your social finance goals.

Eligible Activities

Activities that are eligible for funding can include, but are not limited to:

• Business planning.
• Viability study.
• Accounting services.
• Branding.
• Brokerage.
• Financial modeling.
• Impact measurement.
• Investment structuring.
• Tendering and bid writing.
• Legal services.
• Product development.
• Market analysis and understanding.
• Financial recording.
• Negotiation support.
• Management coaching.
• Minor asset purchases.
• Minor renovation.
• Software or web design product.

Eligibility Criteria

• You can apply to the IRP if you are a:
  • Charity.
  • Nonprofit.
  • Co-op.
  • Social enterprise business (For-profit).
• Social purpose organizations registered in Canada are eligible to apply for IRP funding. To be eligible for the IRP, your social purpose organization must:
  • Have, or plan to have, a mechanism that generates revenue from the sale of goods and/or services. Revenue from donations does not count in this context. The IRP is intended to support the adoption and growth of revenue generation through the sale of goods and services.
  • Have a plan or intention to seek investment, whether loans or equity.
  • Have a CRA charitable number/be a qualified donee, or have a CRA business registration number registered prior to September 2021.
  • Demonstrate you have a plan, capacity, and expertise to carry out the proposed project that you are applying for.
• Social purpose organizations straddle many sectors. They include:
  • Registered charities or other qualified donees such as Indigenous governments.
  • Incorporated non-profit organizations.
  • Charitable co-operatives.
  • Other co-operatives.
  • Social enterprise businesses advancing a social, cultural, or environmental mission.
  • Hybrid entities such as Community Contribution Companies and Community Interest Companies, found in British Columbia and Nova Scotia, respectively.

For more information, visit Community Foundations.

For more information, visit https://communityfoundations.ca/initiatives/the-investment-readiness-program/