About the Investment Readiness Program
The Investment Readiness Program (IRP) is a $50 million program over 2 years starting in fiscal year 2021 to 2022, designed to help advance social innovation and social finance (SI/SF) in Canada.
On this page
- Renewal of the program
- Who does the IRP support
- How it works
- You are a SPO: Where to submit your proposal
- Related links
Renewal of the program
As announced in Budget 2021, the Government of Canada has renewed the IRP based on the success of the pilot program that took place between 2019 and 2021. The renewed IRP will continue to advance SI/SF in Canada. It will strengthen the SI/SF ecosystem.
Who does the IRP support
This program supports social purpose organizations (SPOs) to build their capacity to access social finance and participate in the larger SI/SF ecosystem.
Specifically, SPOs are organizations operating with a social, cultural or environmental mission. They can be charities, non-profits, social enterprises, co-operatives or businesses with a social mission.
The renewed program will also expand support to SPOs led by or serving equity-deserving groups, such as (among others):
- Indigenous peoples – First Nations, Métis, Inuit
- low-income people
- Black Canadians and other racialized peoples
- people with disabilities
- members of the LGBTQ2+ community
- official language minority communities
- recent immigrants and refugees
The IRP supports the Government of Canada's goal to increase inclusion and opportunities for participation of Canadians in their communities.
How it works
The renewed IRP will be delivered by our funding partners under 2 streams:
- stream 1: Readiness support partners will provide funding to SPOs to build skills and capacity to access social finance investment. SPOs will use the funding to:
- get help to do market analysis
- develop new products and services
- build business plans, and
- acquire technical expertise
- stream 2: Ecosystem builders will invest in projects that help grow and strengthen the SI/SF ecosystem by being more inclusive and integrated. This ecosystem includes connections between:
- social purpose organizations
- social finance intermediaries
- researchers, and
- the government
A strong ecosystem makes it easier for SPOs to be more socially innovative and to access social finance.
You are a SPO: Where to submit your proposal
Eligible SPOs can apply for funding from the readiness support partners, who will assess their applications. Please note that the Government of Canada does not directly assess SPOs’ proposals for this program.
Please consult readiness support partners’ websites for information on how and when to apply.
Readiness support partners
- Canadian Women's Foundation (CWF)
- Chantier de l’économie sociale
- Community Foundations of Canada (CFC)
- The National Association of Friendship Centres (NAFC)
In addition to the above readiness support partners, the Foundation For Black Communities (FFBC) is leading a new initiative to direct further IRP funding to Black-led and Black-serving SPOs with support from Community Foundations of Canada.
Ecosystem builders selected from the first round of funding
- Ajah/Powered by Data
- Buy Social Canada
- The Canadian Community Economic Development Network (CCEDNet)
- Carleton Center for Community Innovation (3ci) - Common Approach to Impact Measurement
- Community Finance Initiative
- Congress of Aboriginal Peoples
- Co-operatives and Mutuals Canada (CMC)
- Imagine Canada
- Native Women’s Association of Canada (NWAC)
- New Power Labs
- Social Economy through Social Inclusion (SETSI)
- Social Innovation Canada
- Startup Canada
- The United Church of Canada
Ecosystem builders selected from the second round of funding
- Afro Caribbean Business Network
- Canadian Worker Co-op Federation
- Common Good Solutions
- Inclusion Canada
- Raven Indigenous Impact Foundation
- Social Economy Research in the Northwest Territories (SERNNoCa, Lakehead University)
- Territoires innovants en économie sociale et solidaire (TIESS) (available in French only)
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