Are you a non-profit organization that generates revenue in order to create social change? And, do you want to get your business in shape to attract and make it easier for investors to invest in you?
Apply today (until Nov 22/22) to the latest round of the Investment Readiness Program. More than $1 Million is available to social enterprises like yours in the southern region of BC.
In 2019, Community Foundations of Canada (CFC), alongside the Government of Canada and several partner organizations, announced the Investment Readiness Program (IRP), a program that helps social purpose organizations scale up their social enterprises to prepare to accept investments. Since then, IRP has had two intake periods and has supported many social enterprises in each round. The goal of the IRP is to support these organizations in the social finance market, generating a return for investors while having a positive impact on their communities.
Community Foundation South Okanagan Similkameen (CFSO) is thrilled to be partnering with CFC and the Government of Canada to distribute funds to local social purpose organizations.
As a Regional Partner for IRP, CFSO is pleased to be working with CFC and the Government of Canada to lead the distribution of approximately $1,181,000 through the Southern Region of British Columbia, in partnership with two other Community Foundations (Community Foundation North Okanagan and Central Okanagan Foundation).
Social purpose organizations from coast to coast to coast can apply for $10,000 to $75,000 to ensure their organization is ready for investment.
Additional Information & Resources
Information about the two funding streams
The maximum amount to apply for is $75,000. Your organization will need to determine which of the two funding streams you to submit your application:
- Explore stream ($10,000 to $25,000):
- This stream is for social purpose organizations that are: At the early stages of exploring, developing and testing their social enterprise idea. You may be researching, developing and testing different aspects of your social enterprise plan, such as your revenue-generation models.
- OR,
- In need of technical assistance or support on a very specific aspect of your project, that will assist you in launching or growing your social enterprise, or in preparing you to take on investment. This may include items such as accessing legal advice, market expertise, etc.
- This stream is for social purpose organizations that are: At the early stages of exploring, developing and testing their social enterprise idea. You may be researching, developing and testing different aspects of your social enterprise plan, such as your revenue-generation models.
- Stabilize and Build stream ($30,000 – $75,000):
- This stream is for social purpose organizations that already have a well-developed enterprising model and are farther along in their understanding and preparation for taking on investment. Your organization is ready to take on a big project to increase your organization’s impact and get one step closer to your social finance goals.
Things to note
- Funding must be used between February 15, 2023 and December 15, 2023
- The Southern BC Regional HUB will be reviewing applications from organizations located on this map as identified within our region
- CFC Is hosting an online IRP Applicant Information Session on October 6, 2022 from 1-2 pm EST.
What the IRP funds
IRP funds can be used to research, launch, design, measure, and scale up social enterprises to achieve an organization’s sustainability plan to take on investment in the future. Funds are intended to be used to access outside expert advice or services to:
- Explore a new business idea or develop a business plan to test an inspiring idea
- Create a marketing plan to reach new audiences
- Prepare the documentation needed to approach potential investors
- Plan new products or services to grow revenue
The funds are not eligible to be used towards core operating costs. They should move social enterprises forward along the spectrum to investment readiness.
Resources
Download the Program Guidelines (pdf)
Download the Application Form (pdf)
Download the Budget Template (xls)
Download the IRP 1-Pager (png)
Download the IRP Glossary (pdf)
