Investment Readiness Program
What is the IRP?
The Investment Readiness Program is a Government of Canada initiative to invest $50 million to help social-purpose organizations across Canada prepare for the upcoming Social Finance Fund.
$22 million from the Investment Readiness Program has been allocated to Community Foundations of Canada for immediate investment in social enterprises across the country.
Investments will be used to prepare recipients for a $750 million Social Finance Fund from the Government of Canada. The Social Finance Fund will be used to invest in social purpose organizations over 10 years, with plans to have funding matched up to $2 billion in new investments.
Who Can Apply?
If you are a:
- For profit social enterprise
...and have an idea or an existing project that fits the definition of a social enterprise you may be eligible.
What is a Social Enterprise?
An organization or program that is mission-driven, aiming to sell goods or services to earn a revenue, while also helping achieve positive social, cultural or environmental results.
Some examples include:
- 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 marginalized youth.
- A co-op that offers affordable laundry and delivery service while giving work experience to people living in poverty.
- A business that creates and sells footwear made from recycled materials in order to reduce waste and uses some of its revenue to fund environmental programming.
- A construction business that provides skilled trades training and employment opportunities.
- A store that offers local artisans credit to purchase food in exchange for their crafts.