Call for proposals: Investment Readiness Program – Stream 1: Readiness support partners (Round 2) - Closed
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Current status: Closed
Round 2 of this call for proposals was open from January 10, 2022 to February 18, 2022, at 3:00 pm Eastern daylight time (EDT).
Round 1 of this call for proposals was open from August 6, 2021 to September 16, 2021, at 3:00 pm (EDT).
Based on the success of the pilot program, the renewed Investment Readiness Program (IRP) will continue to advance Social Innovation and Social Finance (SI/SF) in Canada. It will support social purpose organizations (SPOs) to build their capacity to access social finance and a strengthened SI/SF ecosystem. SPOs are organizations with a social or environmental mission. SPOs straddle the charitable and non-profit sector and the private sector.
The renewed IRP will be delivered 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 do market analyses, 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. This will provide another layer of support to SPOs
In order to further meet the objectives of the renewed IRP, organizations who are serving and/or being led by women, Indigenous peoples, Black people and other racialized communities, official language minority communities, people with disabilities and other equity-deserving group are encouraged to submit a proposal or express an interest in submitting a proposal for round 2.
The IRP supports the Government of Canada’s goal to increase inclusion and opportunities for participation of Canadians in their communities.
The total grants and contributions funding envelope for the IRP is $45,815,426. We anticipate that we will sign agreements with 20 to 30 organizations to deliver the IRP.
The call for proposals for the IRP is done using a 2-round process. To allow for the continuity of the momentum from the pilot IRP, identified organizations that met the criteria were invited to submit their proposals during round 1. However, other organizations that met the criteria for this process could also choose to submit a proposal during round 1.
Round 2 of this call for proposals will continue to explore options for new partners and projects that will help address gaps in meeting program objectives, particularly those that aim to increase the diversity and inclusion of the SI/SF ecosystem. Identified organizations that meet the criteria will be invited to submit their proposals during round 2. However, other organizations that meet the criteria for this process can also choose to submit a proposal.
The objective of this process is to fund organizations to provide funding to SPOs to build their investment readiness (stream 1) using an intermediary model.
The IRP seeks to reach SPOs that serve and are led by:
- Indigenous peoples
- Black Canadians and other racialized communities
- official language minority communities
- people with disabilities
- other equity-deserving groups
Organizations solicited for this funding
Organizations solicited for this funding must:
- have experience delivering grants outside of their organization to eligible SPOs in order to build investment readiness
- have capacity to use inclusive and transparent selection processes
- be engaged in activities linked to SI/SF in Canada
- have the ability to build relationships and work with other organizations to achieve project goals
- have the ability to ensure diversity and inclusion are built into their project activities
Note: The intermediary model empowers community organizations to identify and address gaps and needs. It allows communities to use their expertise to tailor initiatives to their specific circumstances. Intermediaries have the infrastructure in place to flow funds to SPOs across Canada, and they also:
- plan and manage calls for projects
- collect and report on progress and performance
We identified 4 organizations that meet these criteria in round 1 of this process.
The following organizations, in alphabetical order, were identified and invited to apply on August 6, 2021:
- Canadian Women’s Foundation
- Chantier de l’économie sociale
- Community Foundations of Canada
- National Association of Friendship Centres
Eligible organizations may only submit 1 application for funding under this process.
Eligible organizations are those located in Canada and must be one of the following types:
- non-profit organization
- cooperative or mutual
- provincial and territorial government entity including institutions, agencies and Crown Corporations; inclusive of educational institutions, public health and social services organizations
- National Indigenous Organization, Modern Treaty and Self Government Agreement Holder, or Indigenous non-government organization
- international organizationFootnote *
- for-profit organization, inclusive of hybrid corporate models, provided that the nature and intent of the activity:
- is non-commercial
- is not intended to generate profit, and
- supports program priorities and objectives
Find information on funded grants and contribution projects in proactive disclosure.
Should you wish to submit a proposal, or if you have questions or feedback on this process, please email us at EDSC.CN.PPI-IRP.NC.ESDC@servicecanada.gc.ca before February 10, 2022 at 3:00 pm (EDT).
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