Gov’t of Canada, Investment Readiness Program (IRP) Renewed

The government of Canada has renewed its Investment Readiness Program (IRP), a $50 million program over 2 years starting in the fiscal year 2021 to 2022, designed to help advance social innovation and social finance (SI/SF) in Canada.

This program supports social purpose organizations, specifically organizations operating with a social, cultural, or environmental mission. They can be charities, non-profits, social enterprises, co-operatives or businesses with a social mission. The IRP supports the Government of Canada’s goal to increase inclusion and opportunities for participation of Canadians in their communities.

How it Works: The renewed IRP will be delivered by funding partners under two streams:

  • stream 1: Readiness support partners will provide funding to SPOs to build skills and capacity to access social finance investment. SPOs will use the funding to:
    • get help to do market analysis
    • develop new products and services
    • build business plans, and
    • acquire technical expertise
  • stream 2: Ecosystem builders will invest in projects that help grow and strengthen the SI/SF ecosystem by being more inclusive and integrated. This ecosystem includes connections between:
    • social purpose organizations
    • networks
    • experts
    • social finance intermediaries
    • researchers, and
    • the government

For full details on eligibility and how to apply, click here.