Brant | Halton | Peel partnership allocates $719,000 through the federal Investment Readiness Program

Today the Brant | Halton | Peel Partnership, a consortium of six community foundations and Sheridan College which operates EDGE – a hub for impact entrepreneurship – announced the results of its second round of funding from the Investment Readiness Program (IRP), funded by the Government of Canada as part of the national initiative led by Community Foundations of Canada (CFC).

The Partnership’s second allocation will support 19 social purpose organizations (SPOs) with $719,965 in non-repayable capital to improve their capacity to invest in innovation, participate in the social finance market, and access new investment opportunities. SPOs include charities, non-profits, co-operatives, hybrid social enterprises, and mission-focused for-profits who are advancing a social, cultural, or environmental mission.

The following SPOs received IRP funds and are listed by the location of their home office:

In July, the Partnership announced its support of 23 SPOs with $715,550 in non-repayable capital as part of the first round of funding. These funds supported services such as business and strategic planning, marketing services, financial and tax services, legal and risk management services, market research and more. By accessing these services, social purpose organizations are increasing their own capacity and preparing for the growth investment would provide.

“The second round of funding was another opportunity for local SPOs to have active roles in building resilient and inclusive communities, with positive environmental and social outcomes throughout our regions,” said Wendy Rinella, CEO of the Oakville Community Foundation, the Lead Partner for the Brant, Halton & Peel Regional Partnership.

“This year more than ever we are thrilled to support these social purpose organizations,” says Dr. Janet Morrison, President and Vice Chancellor of Sheridan. “The pandemic and current global recession have highlighted the need to rethink our economies in ways that are more sustainable and inclusive. That kind of thinking is what we see from the optimistic, action-oriented organizations in our own backyard.”

IRP is the first stage of the Government of Canada’s ten-year, $800 million commitment to fund social innovation and social finance across Canada. This stage will help these organizations grow and build their capacity to accept future investment and generate a return for investors while having a positive impact on their community.

The Brant | Halton | Peel Partnership also includes a number of expert service providers across Halton and Peel that provide resources, training and mentorship for organizations as they move towards investment readiness.

Learn more about IRP via the IRP website or the Oakville Community Foundation.