The Government of Canada has announced the applications for the Investment Readiness Program – Stream 1: Readiness support partners (Round 2).
Based on the success of the pilot program, the renewed Investment Readiness Program (IRP) will continue to advance Social Innovation and Social Finance (SI/SF) in Canada. It will support social purpose organizations (SPOs) to build their capacity to access social finance and a strengthened SI/SF ecosystem. SPOs are organizations with a social or environmental mission. SPOs straddle the charitable and non-profit sector and the private sector.
stream 1 (Readiness support partners) will provide funding to SPOs to build skills and capacity to access social finance investment. SPOs will use the funding to get help do market analyses, develop new products and services, build business plans and acquire technical expertise
The IRP supports the Government of Canada’s goal to increase inclusion and opportunities for participation of Canadians in their communities.
- The objective of this process is to fund organizations to provide funding to SPOs to build their investment readiness (stream 1) using an intermediary model.
- The IRP seeks to reach SPOs that serve and are led by:
The total grants and contributions funding envelope for the IRP is $45,815,426. They anticipate that they will sign agreements with 20 to 30 organizations to deliver the IRP.
Eligible organizations are those located in Canada and must be one of the following types:
- non-profit organization
- cooperative or mutual
- provincial and territorial government entity including institutions, agencies and Crown Corporations; inclusive of educational institutions, public health and social services organizations
- National Indigenous Organization, Modern Treaty and Self Government Agreement Holder, or Indigenous non-government organization
- international organizationFootnote
for-profit organization, inclusive of hybrid corporate models, provided that the nature and intent of the activity:
- is non-commercial
- is not intended to generate profit, and
- supports program priorities and objectives
For more information, visit Government of Canada.
For more information, visit https://www.canada.ca/en/employment-social-development/services/funding/investment-readiness-program-readiness-support-partner.html