The Investment Readiness Program (IRP) is a national initiative funded by the Government of Canada. IRP will provide time-limited investments to support a broad range of social purpose organizations (for example, non-profits, charities, co-operatives, hybrid social enterprises, and mission-focused for-profits) in improving their capacity and ability to participate in the social finance market, access new investment and contract opportunities and support them throughout the innovation.
The first application period is now closed (running January 8 to February 10, 2020), with an additional funding round planned later in 2020. Organizations have the potential to receive from $10,000 to $100,000 in non-repayable capital to develop their enterprise.
If you have an existing business or a business idea that fits the definition of a social enterprise and you would benefit from funds to launch, design, measure or scale your organization to be ready to access social finance, you may consider applying when the second funding round is announced.
Burlington Foundation is pleased to be a participating community foundation partner for the IRP Program, with The Oakville Community Foundation being the lead of our Brant | Halton | Peel Regional Partnership. Together, this cross-regional group is responsible for distributing over $1 million locally to these social purpose organizations over a number of application funding rounds.
The regional consortium is made up of 6 Community Foundations – Brampton and Caledon Community Foundation, Brant County Community Foundation, Burlington Foundation, Community Foundation of Halton North, Community Foundation of Mississauga – and Sheridan College, a leading post-secondary institution with three campuses in the Halton-Peel Region. Sheridan College operates EDGE @ Sheridan,(Entrepreneurship Discovery and Growth Engine), a thriving regional hub for entrepreneurship that provides extensive supports for entrepreneurs and changemakers, with a key focus on social innovation.