The first intake for CFC’s Investment Readiness Program (IRP) took place at the start of 2020. We received over 1,350 applications and are funding 257 social purpose organizations across Canada. First-round results showcase broad interest and engagement in social finance.
On this page, discover the projects being funded through round 1. The results from the second round will be available in early 2021.
As Canada enters pandemic recovery, social purpose organizations (SPOs) are key to helping our communities tackle some of the biggest challenges. The data from the first round of results is striking in its variety. The list of projects is geographically broad and includes a varied group of SPOs. These organizations are at different points in their investment readiness journey, serve many different groups and between them support all of the UN Sustainable Development Goals. A varied social finance sector is helping to create more resilient communities who can build back better.
This range of projects is encouraging and CFC is continuing to adapt its IRP program to put equity at the heart of our approach. In the second round, we are digging deeper to look at who is leading and governing this work, to support more BIPOC-led enterprises.
For more information on our equity commitments please see our joint letter with IRP partners published by The Social Economy through Social Inclusion (SETSI).
Organizations that received IRP funding through CFC
Types of Social Purpose Organizations Funded
This pie graph illustrates the range of Social Purpose Organizations (SPOs) accepted in the first round of CFC’s IRP, which includes a large number of qualified donees.
For many charities, social finance allows them to be more financially resilient. As we look to build back better after COVID, financially strong SPOs will be able to better support recovery efforts.
“The Investment Readiness Continuum”
IRP is helping social purpose organizations explore, grow and flourish across the country, empowering them to develop along the path from great ideas to investment-ready.
This diagram shows how the enterprises funded in the first round are spread across the investment readiness spectrum.
Populations Served by IRP Round 1 Organizations
IRP is funding projects that build sustainable and inclusive communities. Funded organizations are supporting youth, people experiencing low incomes, women, Indigenous peoples, racialized peoples and more.
We are aware that social innovation and social finance space remains predominantly white. We are heartened to see examples of outstanding Indigenous, LGBTQ2S and Black-led SPOs funded in round 1. But we know more needs to be done to ensure the sector is truly inclusive and leaves no one behind. In Round 2 and beyond, we are gathering information and doing more outreach to determine how CFC’s IRP can support BIPOC-led SPOs.
UN SDGs Supported by Round 1 Organizations
SPOs are working on a range of issues and their work is helping to advance all 17 of the UN’s Sustainable Development Goals (SDGs). Now more than ever, these goals are central in ensuring economic development happens in concert with a thoughtful social action.
As we look to build back better after COVID-19, it’s encouraging to see the variety or issues being addressed by SPOs and how their work contributes to Canada’s efforts to meet the UN SDGs. The second round of IRP funding gives us the opportunity to continue seeking to support work across the range of SDGs.
Top Services Receiving IRP Funding in Round 1
Curious what is involved in getting investment ready? This bar chart illustrates the top 5 services supported by the first round of IRP funding.
Every organization is different if you’re looking to apply in the second round of IRP funding consider what might be helpful to support your SPO in becoming investment-ready.
Full List of Results
Want to find out more? This is a list of all funded organizations. You can right-click on the table to download it as a spreadsheet.
CFC is one of multiple Readiness Partners supporting the distribution of IRP funding. The results from different partners will be made available at the primary IRP website, irp-ppi.ca.
The Investment Readiness Program is funded by the Government of Canada.
