Canadian Women’s Foundation recently announced the recipients of their 2023 IRP funding, totalling over $1 million invested in twenty-one outstanding Social Purpose Organizations (SPOs). These include charities and non-profits, social enterprises, for-profits with social purposes, and co-operatives led by and for diverse women and Two Spirit, trans, and non-binary people in Canada.
“Diverse social entrepreneurs and organizations all over Canada deserve this vote of confidence,” says Paulette Senior, President and CEO of the Canadian Women’s Foundation. “When we break down gender, racial, and other intersecting biases and invest in them the way we should, returns are remarkable. Their innovations couldn’t come at a more critical time for the economy and the well-being of our communities.”
Funded by Employment and Social Development’s Investment Readiness Program, this investment bolsters under-supported SPOs led by Black, Indigenous, and racialized women, newcomer women, and 2SLGBTQIA+ people with significant barriers to capital.
IRP Program Goals for Canadian Women’s Foundation
Through the IRP, the Canadian Women’s Foundation aims to boost sector participation of women, Two Spirit, trans, and non-binary people in social innovation and social finance.
They believe that promoting entrepreneurship and innovation, as well as the growth of micro-, small- and medium-sized enterprises helps women, Two Spirit, trans, and non-binary people develop greater economic prosperity. With more knowledge and experience in the use of social finance mechanisms and tools, the sector will be better able to support these enterprises.
The Foundation supports and encourages the growth and readiness of women, Two Spirit, trans, and non-binary serving organizations to join the social innovation and social finance ecosystem. This may include support to social purpose organizations that currently do not consider themselves part of that ecosystem. The Foundation seeks to prioritize funding to organizations that reach women, girls, Two Spirit, trans, and non-binary who face multiple barriers, in communities where the needs are greatest.
Through the Investment Readiness Funding, Canadian Women’s Foundation aims to:
- Increase the number and variety of groups engaged in the social finance ecosystem
- Build awareness and enhance capacity of social purpose organizations
- Contribute to learnings, best practices, and knowledge transfer in the ecosystem
- Apply a gender lens and intersectional approach to the IRP initiative.
Click here to see the list of IRP-funded projects for Canadian Women’s Foundation Cycle 2.
Read more via the press release from Canadian Women’s Foundation
