The Investment Readiness Program could help get you there.
The Government of Canada’s Investment Readiness Program (IRP) is designed to put non-repayable capital in the hands of social purpose organizations preparing to seek investment, so they can make even more positive change in community. So if you are looking for the resources to research, design, launch or scale up your social enterprise so you are investment-ready, here’s your opportunity.
The application portal will be open for the first round of applications on January 8th and will be open until February 10th. (Note: there will be additional application rounds prior to March 2021)
What is the Investment Readiness Program (IRP)?
The IRP is designed to help social purpose organizations scale up their social enterprises to prepare to accept investments.
What is available?
Eligible organizations could receive non-repayable capital to develop their enterprise towards investment readiness.
Who can apply?
Any corporate structure -- charities, non-profits, co-ops and for-profits, may all apply if they have an existing business or a business idea that fits the definition of a social enterprise — “any organization or business that uses market-oriented production and sale of goods and/or services to pursue a public benefit mission.” (Canadian Task Force on Social Finance)
What are examples of social enterprises?
- A non-profit that employs people facing barriers to employment to perform eco-friendly home retrofits
- A charity that runs a catering service and provides culinary training for at-risk youth
- A co-op that offers affordable laundry and delivery service while giving work experience to people living in poverty
- A business that helps local farmers sell their crops and products to consumers at a fair price
- A store that offers local artisans credit to purchase food in exchange for their crafts
What does it mean to get investment ready?
Activities that are eligible for non-repayable capital can include, but are not limited to:
- Business planning
- Viability studies
- Accounting services
- Legal services
- Marketing and branding planning
- Financial modelling
- Impact measurement design
Where do I apply?
Potential applicants should go to https://irp-ppi.ca/en/ to begin their application.
What if I have questions?
In Alberta, the Edmonton Community Foundation and Calgary Foundation are partnering with Community Foundations Canada to deliver the program to social purpose organizations located across most of the province.
You can email [email protected] or leave a message at 1-855-593-1003
Phone calls and emails will be answered within 5 business days. Please indicate your question(s) clearly to facilitate speedy replies.
You can also visit https://www.communityfoundations.ca/initiatives/the-investment-readiness-fund/ for more information.