The Canadian government wants to improve the Investment Readiness Program. Here’s what 11 sector leaders say needs to happen.
Why It Matters
Social purpose organizations need help preparing for investment, but some sector leaders say the IRP is not quite as flexible, equitable, or fair as it should be — which makes readiness difficult.
The Social Finance Fund’s Investment Readiness Program is getting a reboot.
Buried in April’s federal budget was a promise to extend the $50 million, two-year program aimed at helping social purpose organizations develop business plans, expand their products and services, and develop employee skills. It’ll run for another two years at a time when many social finance leaders are calling for additional investment readiness support, especially for smaller charities and nonprofits.
According to data from Community Foundations of Canada, the program’s latest round of funding reached 243 different social purpose organizations. Nearly half were registered charities, while a combination of not-for-profits, for-profit organizations, and co-ops comprised the rest of the successful applicants. Community Foundations of Canada says the list of projects selected for the I
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