Starting September 8, 2020 we’re accepting applications for the second and final intake for IRP!
Applications will be accepted until October 9, 2020. We’re prioritizing applications from Black- and Indigenous-led organizations.
Eligible organizations could receive from $10,000 to $100,000 in non-repayable capital to develop their enterprise. Charities, nonprofits, co-ops and for-profit social purpose organizations, may all apply if they have an existing business or a business idea that fits the definition of a social enterprise — selling a good or service with profits going back into their mission to provide a positive social, cultural or environmental outcome.
Before applying, please read program materials carefully (the application has been updated) and familiarize yourself with the program’s goals. Round two funding will support social purpose organizations that wish to (or are already) generating a revenue from the sale of goods or services and want to grow their capacity to receive additional investment, whether through loans or equity.
Applications can be completed on Community Foundations of Canada website as of 9am EST on Tuesday, September 8th. You can use the same link to start preparing your application. Note that the application form has been updated since the first round.
The Investment Readiness Program is helping social purpose organizations explore, grow and flourish across the country, empowering them to develop along the path from great ideas to becoming investment-ready. It is led by Community Foundations of Canada (CFC) and funded by the Government of Canada.
CFC is working with Toronto Foundation and Centre for Social Innovation to promote and implement the program in the City of Toronto, and York and Durham Regions. Other partners include: Durham Community Foundation, MaRS Discovery District, Responsible Investment Association, and United Way Greater Toronto.
Results are expected to be released in early 2021.
|More Information & Questions|
All materials and the application portal can be found online at: https://www.communityfoundations.ca/initiatives/the-investment-readiness-fund/
|Results of Round One|
The Investment Readiness Program provided $8.9M in funding to 257 organizations across the country through its first Investment Readiness Program intake. In Toronto, York and Durham, 23 organizations received funding. The issues the national projects address include poverty, well-being, economic opportunity, equality and climate change.
The first round of the Investment Readiness Program was highly competitive with over 200 applications submitted for these three regions alone. Toronto Foundation reviewed all the applications with several partners and volunteers.
Although the Investment Readiness Program was launched before the current COVID-19 pandemic, the Government of Canada funding helps social purpose organizations innovation adjust and thrive to new realities.
Funding recipients for Round One:
Axcessiom Technologies Inc.
Child Development Institute Foundation
Custodia Seniors Support
InfiniGuard Security and Protection Services Inc.
La Maison-Couture PetitPoint Sewing
Newcomer Kitchen Inc.
North York Harvest Food Bank
Ontario Nonprofit Network
Parkdale Activity-Recreation Centre
RainStick Recirculating Shower
SAAAC Autism Centre
The Spent Goods Company
Warden Woods Community Centre
Woman Abuse Council of Toronto (WomanACT)
ZooShare Biogas Co-operative Inc.