The Investment Readiness Program is helping social purpose organizations explore, grow and flourish across the country, empowering them to develop along the path from great ideas to becoming investment-ready. Two calls for applications went out in 2020 with Black- and Indigenous-led organizations prioritized during the review process.
Successful organizations receive between $10,000 to $100,000 in non-repayable capital to develop their enterprise. Results of round one are listed below and results of round two are listed here.
The program is led by Community Foundations of Canada (CFC) and funded by the Government of Canada. CFC is working with Toronto Foundation and Centre for Social Innovation to promote and implement the program in the City of Toronto, and York and Durham Regions. Other partners include: Durham Community Foundation, MaRS Discovery District, Responsible Investment Association, and United Way Greater Toronto.
The Investment Readiness Program provided $8.9M in funding to 257 organizations across the country through its first Investment Readiness Program intake. In Toronto, York and Durham, 23 organizations received funding. The issues the national projects address include poverty, well-being, economic opportunity, equality and climate change.
The first round of the Investment Readiness Program was highly competitive with over 200 applications submitted for these three regions alone. Toronto Foundation reviewed all the applications with several partners and volunteers.
Although the Investment Readiness Program was launched before the current COVID-19 pandemic, the Government of Canada funding helps social purpose organizations innovation adjust and thrive to new realities.
Results of round one are listed below and results of round two are listed here.
Axcessiom Technologies Inc.
Child Development Institute Foundation
Custodia Seniors Support
InfiniGuard Security and Protection Services Inc.
La Maison-Couture PetitPoint Sewing
Newcomer Kitchen Inc.
North York Harvest Food Bank
Ontario Nonprofit Network
Parkdale Activity-Recreation Centre
RainStick Recirculating Shower
SAAAC Autism Centre
The Spent Goods Company
Warden Woods Community Centre
Woman Abuse Council of Toronto (WomanACT)
ZooShare Biogas Co-operative Inc.
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All materials and the application portal can be found online at: https://www.communityfoundations.ca/initiatives/the-investment-readiness-fund/