Three Ideas To Implement Canada's new Social Finance Fund

Author Lars Boggild
Key principles for the success of Canada’s Social Finance Fund

Why It Matters

The Government of Canada has proposed up to $755 million over the next ten years for a new Social Finance Fund to encourage innovative approaches to address complex social issues. This is poised to help resource a more just and sustainable economy. Yet, in order to create lasting impact, it must deploy the resources strategically.

As Canada’s federal government prepares to choose the members of its Social Innovation Advisory Committee, the social finance sector should think critically about the vision of the Social Finance Fund. As outlined in the 2018 federal budget, the Fund will provide $394 million to funds and intermediaries over the next five years. How can policymakers ensure these public resources make a lasting impact?

The following three principles can help assess demands for resources and evaluate whether the Social Finance Fund has been successful.

Proportionality

How can policymakers ensure that organizations of all sizes are able to access resources, and that being larger doesn’t make it easier to access the Fund?

First, due diligence

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