The Investment Readiness Program offers grants for black-focused organizations that prioritize social, innovative, and environmental change in their communities.\\The Investment Readiness Program is funded by The Foundation For Black Communities and the Government of Canada. The goal of the IRP is to create involvement of Canadians within their communities by investing in black-led social businesses and programs.\\It awards grant recipients up to $75,000.\\IRP grants are funded through two streams. Applicants may only submit their projects to one of the two streams.\\Any social purpose organization operating in Canada can apply, including non-profits, charities, social enterprises, and businesses with a social mission.\\The IRP grant can be used to help recipients learn and build the tools needed to understand and access social finance investments.\\This includes business planning, learning technical skills, and helping with the development of products/services.\\The IRP grant can also be used to help established black-serving businesses and organizations to help grow and strengthen their social innovation and social finance.
Eligibility
To receive IRP grants for black-focused organizations, applicants must meet specific criteria.\\To be eligible for the Investment Readiness Program, applicants must:
- display a plan that shows how the funds will be used
- be a black-serving social operation whose mission is to help communities thrive
- creates products/services or will create products/services investing in black-led initiatives that generate revenue
- looking to apply to other financing options, like loans
Prizes
The IRP grant will be funded by either the Explore Stream or the Stabilize and Build Stream.
The Explore Stream
Stream 1 is the Explore Stream. Through this stream of funding, recipients will be awarded for up to $25,000.\\The Explore Stream provides funds to organizations that are in the planning and researching stage of their project.\\The importance of this stream is to help develop, launch, and create social businesses and programs.
The Stabilize and Build Stream
Stream 2 is the Stabilize and Build Stream. Through this stream of funding, recipients will be awarded up to $75,000.\\The Stabilize and Build Stream grants funds to established social businesses and programs to help them continue to grow and be inclusive in their communities.\\The Stabilize and Build Stream grant can be used to fund salaries, create workshops, purchase materials, and pay for overhead costs related to the specific project.
Submission Requirements
The Investment Readiness Program began taking applications on September 29, 2022.\\The deadline for applications is December 1, 2022.\\Applicants will be notified of decisions by February 23, 2023.\\Recipients must complete the accepted project within a year of funding.
Conclusion
For more information or to apply to the Investment Readiness Program, visit The Foundation For Black Communities.
