Between 1960 and 2023, public social expenditures more than doubled from less than 10 per cent of GDP to more than 20 per cent on average across Organization for Economic Cooperation and Development (OECD) countries. However, these investments in social and environmental causes have not resulted in as much impact as hoped. The answer partly lies in how those resources are deployed in these causes.
Il n'existe qu'un seul fonds canadien, BKR, pour financer l'entrepreneuriat noir dans le domaine de la technologie. Lorsqu'ils obtiennent un financement, les entrepreneurs noirs reçoivent des prêts, rarement des fonds propres. Le Québécois Wils Theagene estime qu'il est urgent de changer de système et de créer une véritable chaîne de financement pour les entrepreneurs de la communauté noire. There is only one Canadian fund, BKR, to finance Black entrepreneurship in technology. When they get funding, Black entrepreneurs receive loans, rarely equity. Quebec's Wils Theagene sees a pressing need for a system change, creating a real financing chain for entrepreneurs from the Black community.
Few funders focus on technology and artificial intelligence grants. Few technically skilled staff in the non-profit sector can expertly handle data science, machine learning, and artificial intelligence projects.
Canada’s $755 million Social Finance Fund has the potential to accelerate the growth of Canada’s social finance market. Will there be enough skilled people to support it?
Social finance and impact investing play a crucial role in addressing community and global challenges. But who leads and how will become equally important for social finance to gain further traction.
In Canada, changes to the country’s laws or bylaws in your province, city, or municipality are largely made through advocacy efforts. Skipping this crucial step can mean it takes longer for your organization to have an impact.
