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EDGE members receive Investment Readiness Program funds
The Brant | Halton | Peel Partnership has allocated $719,000 through the Federal Investment Readiness Program, recipients include 3 EDGE members
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).
This is the Partnership’s second allocation, which 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.
Three EDGE members received funding this round:
Accelerate Her Future
Accelerate Her Future is a national career accelerator providing tailored programs for Black, Indigenous and other self-identifying women of colour to launch their careers in business and tech while building networks of solidarity and action. Canada is filled with many ambitious and talented Black, Indigenous and other self-identifying women of colour who have the power to advance their careers when given access to influential networks, mentorship, tools and skills at a pivotal time in their lives. Accelerate Her Future aims at providing leadership development, career-readiness skill-building, mentorship and a diverse influential network of mentors and allies committed to their career success.
Social Venture Circuit
Social Venture Circuit is a non-profit organization with the mission to provide educational resources and a peer community for social enterprises and change-makers. They are a growing community of businesses and entrepreneurs that all share a common goal of making a positive impact and advocating for thriving communities, sustainable quality of life and responsible leadership. Social Venture Circuit believes that a vibrant social enterprise sector is critical to any community’s foundation for social, economic and environmental well-being
Ecosystem Informatics Inc. (ESI) is an innovative, clean technology company. They design and deploy systems that support efforts to understand and protect the environment and enhance business performance. The company was started to fill a need for increased clarity and improve the understanding of environmental conditions in our local cities. ESI’s integrated monitoring, analytics and reporting systems were designed to deliver actionable information for governments, industries, researchers and advocacy groups to move their environmental and sustainability goals forward successfully.
Here is the complete list of social purpose organizations who received IRP funds this round:
|Crossing All Bridges Learning Centre Inc./Shredding Barriers||$14,243.00|
|Accelerate Her Future||$17,322.83|
|Ecosystem Informatics Inc.||$11,445.00|
|Everyday Heroes Kids||$57,975.00|
|Innovia GEO Corp.||$40,000.00|
|Oakville Meals on Wheels||$25,000.00|
|PlanIt! Efficiency Solutions||$45,000.00|
|The Small Change Fund||$66,000.00|
|Canadian and African Women Aid Program||$78,498.65|
|The Canadian Arabic Orchestra||$70,000.00|
|En’tyce Mentorship & Community Services||$50,095.52|
|Grace Retirement and Community Enterprise Inc.||$17,200.00|
|Indus Community Services||$72,215.00|
|Lady Ballers Camp||$40,220.00|
|ResQ Youth International Incorporated||$30,000.00|
|Social Venture Circuit||$17,000.00|
In July 2020, 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. 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.”
– Dr. Janet Morrison, President and Vice Chancellor of Sheridan
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. To learn more about IRP visit irp-ppi.ca or theocf.org/initiative/irp.
Brant | Halton | Peel Partnership
The Oakville Community Foundation is the lead partner of the Brant | Halton | Peel partnership. We are a consortium of six community foundations – Brampton and Caledon Community Foundation, Brant County Community Foundation, Burlington Foundation, Community Foundation of Halton North, Community Foundation of Mississauga – and Sheridan College, a leading post-secondary institution with three campuses in the Halton-Peel regions. Sheridan College operates EDGE, a thriving regional hub that provides extensive support for entrepreneurs and changemakers with a key focus on social innovation.