FOR IMMEDIATE RELEASE
July 22, 2020, Oakville, Ont. – Today the Brant | Halton | Peel Partnership, a consortium of 6 community foundations and Sheridan College which operates EDGE – the Entrepreneurship Discovery Growth Engine – announced the results of its first 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 first allocation will support 23 social purpose organizations (SPOs) with $715,550 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:
- The Raw Carrot Soup Enterprise – $29,430.00
- Sensity Deaf Blind Support Network – $18,000.00
- Community Living North Halton – $45,000.00
- Diversity Trainers Plus Inc. – $10,000.00
- Food For Life Canada* – $47,565.00
- Habitat for Humanity Halton-Mississauga* – $73,750.00
- Halton Industry Education Council (HIEC) – $36,000.00
- Halton Environmental Network (HEN) – $33,000.00
- Kidictive Inc. – $19,750.00
- The Lighthouse Program for Grieving Children* – $26,735.00
- Oakville Festivals of Film and Arts – $22,200.00
- Alton Millpond Association – $24,000.00
- Afro Caribbean Business Network (ACBN) – $21,000.00
- Eden Food For Change – $17,000.00
- Family Education Centre Peel – $30,000.00
- Indus Community Services – $30,000.00
- LinkMentalHealth Inc. – $29,940.00
- Lotus STEMM – $13,906.50
- One Voice One Team Youth Leadership – $24,000.00
- Peekapak Inc. – $30,000.00
- Roots Community Services Inc. – $19,171.50
- Studio.89 – $46,200.00
- Volunteer Mississauga Brampton Caledon – $68,902.00
*Indicates SPO has a mandate broader than the home office region
There were over 1,350 applicants in the first round of IRP, with 257 successful projects sharing $8.9 million in funding. The most common groups being served by applicants include people experiencing low incomes, youth, women, Indigenous peoples, and people living with a disability.
“We had a significant number of organizations apply for limited funds. We are pleased to be able to support SPOs whose revenue-generating proposals have positive environmental and social outcomes across the Region,” said Wendy Rinella, CEO of the Oakville Community Foundation, the Lead Partner for the Brant, Halton & Peel Regional Partnership.
“Sheridan is proud to participate in this groundbreaking social enterprise initiative,” says Dr. Janet Morrison, President and Vice Chancellor of Sheridan. “Helping people explore entrepreneurship and changemaking is a core part of our identity, and we’re delighted to acknowledge the diverse and impactful groups represented in the first round of funding.”
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.
Applications for the second round of funding will begin on September 8 and conclude on October 9.
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.
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For more information, please contact:
Director of Philanthropy & Communications
Oakville Community Foundation
email@example.com | 905-844-3562 ext 302
Director of Communications
firstname.lastname@example.org | 905-815-4073