$900,000 awarded through Investment Readiness Program

Apr 19

In 2019, Community Foundations of Canada (CFC), alongside the Government of Canada and several partner organizations, announced the Investment Readiness Program (IRP), a program that helps social purpose organizations scale up their social enterprises to prepare to accept investments. Since then, IRP had three intake periods and has supported many social enterprises in each round. The goal of the IRP is to position these organizations for seeking funding in the social finance market, generating a return for investors while having a positive impact on their communities.

Waterloo Region Community Foundation (WRCF) was thrilled to partner with CFC and the Government of Canada between 2019 and 2023 to distribute funds to local social purpose organizations as they get investment ready.

As a Regional Partner for IRP, WRCF worked with CFC and the Government of Canada to lead the distribution of funding through the Central South-Western Ontario Region HUB, in partnership with three other Community Foundations (Centre Wellington Community Foundation, Dufferin Community Foundation, Guelph Community Foundation) and five local organizations driving social change (Communitech, GreenHouse, LiftOff, Lyle S. Hallman Foundation, and Region of Waterloo).

“The Investment Readiness Program has been a catalyst for communities across the country, and we are delighted to be sharing the program’s results today. From coast to coast to coast, social purpose organizations are showcasing bold leadership and rethinking how revenue generation can work alongside increasing community impact. We continue to be inspired by the creativity and solutions that strengthen the resilience of the charitable sector while taking on tough social challenges. We are deeply appreciative of our network of community foundations, the Foundation for Black Communities, and the Government of Canada for their continued collaboration and care,” said Andrea Dicks, President of Community Foundations of Canada, a national partner in the Investment Readiness Program.

To learn more about the IRP, including information about the types of social purpose organizations funded across the country, visit: https://communityfoundations.ca/funding-results-investment-readiness-program/

Here are two examples of organizations that received funding through the IRP:

**Making ID recovery and storage more streamlined and secure**

Here is a list of organizations funded through WRCF and partners, with funding provided by the Investment Readiness Program

Through this Fund, WRCF and partners awarded over $230,000 in funding to 10 organizations in round one, over $230,000 in funding to 9 organizations in round two, and $440,000 in funding to 8 organizations in round three.