Community Foundation Grey Bruce, in partnership with Georgian College SENCO, is offering eligible social purpose organizations working across Central Ontario the opportunity to access from $10,000 to $100,000 in non-repayable capital through the Investment Readiness Program (IRP). Applications opened on September 8, 2020 and will close on October 9, 2020.
Social enterprise is creating meaningful jobs, advancing new revenue possibilities, and addressing social challenges to build back better after COVID-19. Social purpose organizations will be better prepared to receive investment, including through the Government of Canada’s Social Finance Fund.
“We’re thrilled to announce the second round of IRP funding in Central Ontario which started on September 8, 2020. It’s another opportunity for local organizations to play an active role in rebuilding more resilient and inclusive communities as we look towards pandemic recovery.” says Stuart Reid, Executive Director of Community Foundation Grey Bruce.
“The first round of IRP funded social enterprise organizations such as the Bagida'waad Alliance who created a tourism-based project offering accommodation and different experiences such as language class, Indigenous craft, guided hikes by community members and storytelling from Elders of Neyaashiinigmiing. The Glassworks Cooperative in Owen Sound received a grant for a feasibility study for development of affordable, sustainable community housing and Hanover’s Launch Pad is expanding its skill-development programming to youth aged 12 to 18.”
IRP non-repayable capital is already being accessed by social purpose organizations taking steps towards being investment ready. IRP is funding services such as business and strategic planning, marketing services, financial and tax services, legal and risk management services and market research. By accessing these services, social purpose organizations are increasing their own capacity and preparing for the growth investment would provide.
“As Canada prepares for pandemic recovery, we don’t want to go back to the status quo. A social finance sector that is ready for investment can grow and play a stronger role in building more resilient and sustainable communities, where economic opportunities are fair and the benefits of wealth are shared.” says Andrew Chunilall, CEO of Community Foundations of Canada, a national partner in the Investment Readiness Program.
For more information on the program and your organization’s eligibility, go to https://www.communityfoundationgreybruce.com
source: media release, Community Foundation Grey Bruce
