What is the Investment Readiness Program?
The Investment Readiness Program (IRP) is a program that is designed to help social purpose organizations prepare for the Government of Canada’s broader investment in social finance via the Social Finance Fund, an historic new $755M commitment which was announced in November 2018 and is expected to roll out over 10 years.
The IRP’s goal is to help social enterprises move towards being investment-ready. Funding can be used to research, launch, design, measure and scale up your social enterprise. Funds are intended to be used to access outside expert advice or services or create dedicated staff capacity. Community Foundation of Nova Scotia is one of 20 community foundations across Canada who are partnering with the Community Foundations of Canada (CFC) to deliver, promote and implement the IRP in our region.
- Exploring a new business idea or developing a business plan to test feasibility
- Creating a marketing plan to reach new audiences and increase revenue
- Planning new products or services to grow revenue
- Preparing the documentation needed to approach potential investors as you move towards taking on investment capital
The funds are not eligible for use towards core operating costs. They should move your enterprise forward along the spectrum from idea to investment-ready.
What are the amounts of funding available?
Social purpose organizations can request between $10,000 and $100,000.
What is a social enterprise?
An organization or program that is mission-driven, aiming to sell goods or services to earn a revenue, while also helping achieve positive social, cultural or environmental results. Consult our IRP glossary for more terms and definitions.
Who can apply?
You can apply to the IRP if you are a:
- For-profit social enterprise
Applicants are required to submit their application via the same online portal.
When can I apply to the IRP?
CFC and CFNS will hold up to three (3) funding rounds before March 31, 2021. The application period for the first round runs from January 8th 2020 to February 10th 2020. Subsequent rounds will be held in 2020.
How do I apply to the IRP?
Interested applicants can submit via the IRP application portal. The portal will be open to accept applications starting January 8, 2020 at 10 a.m. EST. To apply visit the IRP Application Portal.
For additional information you can also visit the IRP website.