ESDC | Call for proposals: Investment Readiness Program (IRP) – Stream 2: Ecosystem builder (Round 2)

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.

Round 1

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

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 build and strengthen the SI/SF ecosystem.

This funding will support projects that build and strengthen the SI/SF ecosystem in these areas:

• investing in inclusive innovation to ensure that leaders and organizations from equity-deserving groups are engaged, represented and welcome in the SI/SF ecosystem
• strengthening networks of expertise in the SI/SF ecosystem, including specialized services to equity-deserving groups
• conducting research and disseminate tools and knowledge on gaps in the SI/SF ecosystem
• investing in SPO capacity to participate in social procurement markets in Canada
• connecting the IRP and the broader SI/SF ecosystem to ensure that IRP partners and other stakeholders are engaged with each other and the ecosystem

The IRP seeks to reach SPOs that serve and are led by:

• women
• Indigenous peoples
• Black Canadians and other racialized communities
• official language minority communities
• people with disabilities
• other equity-deserving groups

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