Final Round of the Investment Readiness Program is Now Closed for Applications
Second Round Funding Available to be Allocated Through our Regional Partnership
$602,750
Application Call Closed
as of Oct. 9
In 2019, Community Foundations of Canada(CFC), alongside the Government of Canada and several partner organizations announced the Investment Readiness Program (IRP). This national initiative funded by the Government of Canada, provides time-limited investments to support a broad range of social purpose organizations (including non-profits, charities, co-operatives, hybrid social enterprises, and mission-focused for-profits). These funds will improve organizations’ capacity and ability to participate in the social finance market, access new investment and contract opportunities, and support them throughout the innovation. Organizations have the potential to receive from $10,000 to $100,000 in non-repayable capital to develop their enterprise.
Social purpose organizations are key to Canada’s recovery efforts to #BuildBackBetter. They are helping our communities advance on some of the biggest, social, economic, cultural and environmental challenges we have ever faced.
Funds are being awarded through two intake rounds, with Round 1 recipients recently announced. The application phase for the second and final round closed Friday, Oct. 9th, 2020. Social purpose organizations who have applied to the second IRP deadline of Oct. 9th can expect to receive their results by December 24th, 2020.
Burlington Foundation is pleased to be a participating community foundation partner for the IRP, 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 $1.3 million locally over the two application rounds.
The regional partnership 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.
Over $715,000 Awarded in Round 1 Through Local Partnership
Through Round 1, our Partnership was pleased to award $715,000 in funding to 23 social purpose organizations. This work is supporting meaningful jobs, strengthening the charitable and non-profit sector and addressing social challenges ensuring we can build back better after COVID-19. To see the complete list of our recipients please see the following press release:
To see a complete list of all Round 1 funded initiatives for the Investment Readiness Program across Canada, please click here to visit Community Foundations of Canada’s website
To Learn More:
The IRP supports social purpose organizations that wish to (or are already) generating a revenue from the sale of good or services and want to grow their capacity to receive additional investment, whether through loans or equity. Thank you to all those who submitted an application. Social purpose organizations who applied to the second IRP deadline of Oct. 9th can expect to receive their results by December 24th, 2020.
