Investment Readiness Program - Community Foundation of the North Okanagan

The newest round of IRP will help support local social enterprises as they get investment ready.

Community Foundation North Okanagan is thrilled to be partnering with Community Foundation South Okanagan Similkameen and Central Okanagan Foundation to lead the distribution of approximately $1,181,000 to social purpose organizations throughout the Southern Region of British Columbia.

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 has had two intake periods and has supported many social enterprises in each round. The goal of the IRP is to support these organizations in the social finance market, generating a return for investors while having a positive impact on their communities.

Social purpose organizations from coast to coast to coast can apply for $10,000 to $75,000 to ensure their organization is ready for investment.

Additional Information & Resources

Information about the two funding streams

The maximum amount to apply for is $75,000. Your organization will need to determine which of the two funding streams you to submit your application:

Explore stream ($10,000 to $25,000):
- This stream is for social purpose organizations that are: At the early stages of exploring, developing and testing their social enterprise idea. You may be researching, developing and testing different aspects of your social enterprise plan, such as your revenue-generation models.
  - OR,
- In need of technical assistance or support on a very specific aspect of your project, that will assist you in launching or growing your social enterprise, or in preparing you to take on investment. This may include items such as accessing legal advice, market expertise, etc.

Stabilize and Build stream ($30,000 - $75,000):
- This stream is for social purpose organizations that already have a well-developed enterprising model and are farther along in their understanding and preparation for taking on investment. Your organization is ready to take on a big project to increase your organization's impact and get one step closer to your social finance goals.

Things to Note

Funding must be used between February 15, 2023 and December 15, 2023
The Southern BC Regional HUB will be reviewing applications from organizations located on this map as identified within our region
CFC Is hosting an online IRP Applicant Information Session on October 6, 2022 from 1-2 pm EST.

What the IRP funds

IRP funds can be used to research, launch, design, measure, and scale up social enterprises to achieve an organization’s sustainability plan to take on investment in the future. Funds are intended to be used to access outside expert advice or services to:

Explore a new business idea or develop a business plan to test an inspiring idea
Create a marketing plan to reach new audiences
Prepare the documentation needed to approach potential investors
Plan new products or services to grow revenue

The funds are not eligible to be used towards core operating costs. They should move social enterprises forward along the spectrum to investment readiness.