Investment Readiness Program Round 2 Applications Now Open
In 2019, Community Foundations of Canada, alongside the Government of Canada and several partner organizations, announced the Investment Readiness Program (IRP), a program that helps social purpose organizations advance their social enterprises to prepare to seek and accept investments. The goal of the IRP is to support these organizations move towards receiving social finance investment, including through the Government of Canada’s Social Finance Fund. CFC held its first round of funding through the IRP in winter 2020, the results of which are now publicly available.
Across Canada, 257 organizations received IRP funding in CFC’s first funding round. In Prince Edward Island, the Community Foundation of PEI (CFPEI) awarded $54,500 in funding to 5 organizations. Visit IRP-PPI.ca for more details about CFC’s funded projects, as well as projects funded through the various partner organizations.
CFPEI is pleased to announce the dates for the next application period for IRP funding via Community Foundations of Canada. From September 8 to October 9, 2020, social purpose organizations will be able to submit applications for projects to advance their readiness to receive investments.
Eligible organizations could receive a minimum of $10,000 in non-repayable capital to develop their enterprise. Charities, non-profits, co-ops and for-profit social enterprises, may all apply if they have an existing business or a business idea that fits the definition of a social enterprise — selling a good or service with some profits going back into their mission to provide a positive social, cultural or environmental outcome.
Find all the details to apply at https://www.communityfoundations.ca/initiatives/the-investment-readiness-fund/ , https://irp-ppi.ca/en/ or https://cfpei.ca/ or by contacting Cathy McPhail, CFPEI IRP Coordinator at [email protected] .