About the Investment Readiness Program
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.
Please note that all funding is currently closed as of March 1, 2023.
‘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.
Some may be doing incredibly innovative work but may not consider it a social enterprise and/or may not be aware they can access different types of financial support for their work. Some are working with an innovative idea in its early design stage. Others are more developed, and might be looking for resources to scale their work.
In short, 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.
I’m seeking IRP funding for my organization
PLEASE NOTE THAT AS OF MARCH 1, 2023 ALL FUNDING IS CURRENTLY CLOSED.
Are you a social purpose organization looking for information about the funds available to support your investment readiness? Go directly to the Readiness Support Partner websites to find their specific deadlines, criteria, and processes for distributing funds. We do not distribute funding directly through the IRP, you must inquire with the specific Readiness Support Partner below.
- National Association of Friendship Centres (NAFC) (Supporting Indigenous SPO’s across Canada)
- Chantier de l’économie sociale (Supporting SPO’s in Quebec)
- Community Foundations of Canada (CFC) (Supporting SPO’s across Canada with the broadest criteria)
- Foundation for Black Communities (FFBC) (Working directly with B3 organizations, Black – led SPO’s, and being supported by CFC as they develop the foundation.)
- Canadian Women’s Foundation (CWF) (Supporting SPO’s led by women and non-binary people across Canada.)
Also see the IRP Glossary of Terms for more info about how we define Social Purpose Organizations and the ecosystem around social finance / social innovation (developed by CFC).
About our Ecosystem Builder partners
Are you interested in the ecosystem building work that is also a key part of the IRP? This work is wide ranging and includes research, convening many different kinds of groups, piloting training or capacity building programs, awareness raising and engagement with an eye to deeper inclusion, equity, and access, and more. Head to our IRP Ecosystem page to find out about the various ecosystem builders and link to their sites to find out more.
Not sure where you fit? Contact us below for help navigating the IRP.