Applications open for new round of Investment Readiness funding
WATERLOO REGION, ON (September 29, 2022) – Waterloo Region Community Foundation (WRCF) is offering eligible social enterprises that are working to do more good the opportunity to access funding through the Investment Readiness Program (IRP). This is part of a $50 Million national initiative, which is being delivered by Community Foundations of Canada and other support partners, and is being funded by the Government of Canada to support and expand social enterprises from coast to coast to coast.
As a Regional Partner for IRP, WRCF is pleased to lead the distribution of approximately $440,000 through the Central South-Western Ontario Region, 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 is open to a diverse range of organizations and businesses including charities, non-profits, co-ops and social enterprises. The program can provide $10,000 to $75,000 to create, manage, and expand social enterprises in order to get ready to accept investment.
“In 2019 and 2020, we were able to support 19 organizations through the first 2 Rounds of IRP funding,“ says Eric Avner, President & CEO, Waterloo Region Community Foundation. “There are so many inspiring community leaders looking to make a difference in new and innovative ways, and we look forward to helping successful applicants grow their impact even more.”
The Investment Readiness Program will help social enterprises across Canada grow, and build their capacity to accept investors, and participate in Canada’s growing social finance market.
“Social enterprise teams from coast to coast to coast are demonstrating how business can be done differently. They are daring to rethink business models to create a more sustainable, equitable and inclusive future. Community Foundations of Canada is in awe of the innovative projects we are funding. We look forward to seeing the positive impacts of this next round of projects through the Investment Readiness Program,” says Andrea Dicks, President of Community Foundations of Canada, a national partner in the Investment Readiness Program.
You can access information about the IRP at www.wrcf.ca/irp, including a link to the application form and program guidelines. Submissions are due by November 22, 2022.
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About the Program
Community Foundations of Canada is a partner in the Investment Readiness Program (IRP) which helps allocate funds from the Government of Canada to social purpose organizations preparing to successfully participate in the social finance market. As a Regional Partner with CFC in delivering the IRP, Waterloo Region Community Foundation will help empower others to unlock innovative solutions to social challenges.
About Waterloo Region Community Foundation
Waterloo Region Community Foundation (WRCF) collaborates with partners to create sustainable, equitable and thriving communities. We connect regionally and locally, working with three cities and four townships – to include the people and places across our region. Together, we develop forward-thinking innovative solutions and seize opportunities to meet current and future needs of our community. We make philanthropy easy for individuals and companies to support organizations and issues they care about. WRCF is focused on Granting, Impact Investing and Convening to make measurable and sustainable impacts. Gifts are directed to WRCF's endowed funds that drive positive change through grants with the income generated being distributed in partnership with Fundholders to support a wide range of charitable causes within our community. A portion of the endowed funds are also used for impact investments that deliver both financial returns as well as positive social or environmental outcomes. As a leading community-building organization we also work to amplify voices and issues of importance by convening conversations and sharing information, while approaching our work with an equity mindset. www.wrcf.ca
For additional information about this release or to schedule an interview, please contact:
Lynne Short
Vice President, Waterloo Region Community Foundation
519-725-1806 x 204
lynne@wrcf.ca
