Funded by the Government of Canada, the Investment Readiness Program (IRP) is a $50 million grants and contributions program designed to support social purpose organizations (SPO’s) as they contribute to solving pressing social, cultural and environmental challenges across Canada.
Through this program, we aim to help social purpose organizations across Canada build their capacity to participate in the growing social finance market and prepare for the Government of Canada’s broader investment in social finance via the Social Finance Fund. The Social Finance Fund and IRP are the first initiatives to result from the Social Innovation and Social Finance Strategy.
‘Investment Readiness’ and the IRP
Supporting social purpose organizations and enabling their success is key to Canada’s economic, social, cultural and environmental success today and in the future. In communities across Canada, social purpose organizations’ social enterprises are operating at many different stages of development.
Social purpose organizations across Canada are at widely differing stages of ‘readiness’ to receive investment. One thing is certain: these organizations are key levers in creating more resilient, equitable and sustainable communities of the future.
The Investment Readiness Program aims to address this challenge. It is delivered under 2 streams:
- Stream 1: IRP’s Readiness Support Partners provide funding to social purpose organizations to build skills and capacity to access social finance investment. These funds will be used to: get help to do market analysis, develop new products and services, build business plans, and acquire technical expertise.
- Stream 2: IRP’s Ecosystem Builders will invest in projects that help grow and strengthen the Social Innovation and Social Finance ecosystem by being more inclusive and integrated. This ecosystem includes connections between: social purpose organizations, networks, experts, social finance intermediaries, researchers, and the government.
CCEDNet and the IRP
CCEDNet is the convener of program partners, co-building the social finance / social innovation ecosystem of support, including partners who raise awareness, develop expert services, consider how diverse demographics can get connected to this field, and the ‘readiness support partners’ who disburse IRP funding to Social Purpose Organizations.
