Four Organizations in Grey Bruce Supported by IRP
In Grey Bruce, $104,000 in funding from the Investment Readiness Program (IRP) has been awarded to four social purpose organizations: Catapult Grey Bruce, Harmony Centre Owen Sound, The Meeting Place Tobermory, and Welcoming Communities Grey Bruce.
These diverse social purpose organizations are striving for investment readiness in advance of the launch of the Government of Canada's Social Finance Fund. Courtney Denard, Chair of Catapult Grey Bruce, says:
“Catapult Grey Bruce is incredibly thankful to be receiving this generous grant through the Investment Readiness Program. As a non-profit with a social purpose to support entrepreneurs across the region, the funds will be vital for our organization’s growth as it continues to seek financing from public and private funders.
The IRP funds will be allocated to the Catapult Entrepreneurship Growth Project, which includes objectives like building a membership database, updating the organization’s website, and creating strong investment marketing campaign, all imperative to Catapult’s success in the future.
We’re so grateful for the work Community Foundation Grey Bruce does to enhance community vitality. Its support for non-profit organizations means young organizations, like Catapult Grey Bruce, cannot only continue to grow but thrive."
This third and final round of funding for the Investment Readiness Program was funded by the Government of Canada's SI/SF Strategy for Community Foundations of Canada’s IRP stream that was administered in Southwestern Ontario by Community Foundation Grey Bruce in partnership with the WindsorEssex Community Foundation. This round was highly competitive, with 38 local applications submitted and a total of $844,115 awarded to 19 organizations across Southwestern Ontario. Funds are made possible through the Government of Canada. MP Alex Ruff, Member of Parliament for Bruce-Grey-Owen Sound shares: “The Investment Readiness Program (IRP) supports social purpose organizations that contribute to solving pressing social, cultural and environmental challenges in their communities. I’m delighted that the IRP is once again recognizing the Community Foundation Grey Bruce for its positive impact on the lives of Grey Bruce residents.”
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 three intake periods and has supported many social enterprises since 2019. 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. CFC announced the results of the most recent intake through the IRP on March 23, 2023, the results of which are now publicly available.