Jean-Yves Duclos makes the announcement on Wednesday as representatives of National Aboriginal Capital Corporations Association, the Chantier de l'économie sociale, Community Foundations Canada, and the Canadian Women's Foundation look on.

CCEDNet's Executive Director Michael Toye was on hand June 12, 2019, for the announcement by the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development of the first funding recipients who will help implement the Investment Readiness Program. The Government will be investing $50 million over two years to help social purpose organizations become investment ready and access the new Social Finance Fund, set to launch in 2020.

The Investment Readiness Program is part of the Government's Social Innovation and Social Finance Strategy, which seeks to encourage new and innovative approaches to address the persistent and complex social and environmental challenges that make it difficult for people to succeed and reach their full potential. The program will be delivered through three types of delivery partner organizations:

1. Readiness Support Partners (to make available funding and supports to diverse organizations across Canada)

• National Aboriginal Capital Corporations Association
• Community Foundations of Canada
• Chantier de l’économie sociale
• Canadian Women’s Foundation

2. Expert Service Providers (to offer specialized knowledge to organizations to support their movement along the readiness continuum)

• LIFT Philanthropy Partners
• McConnell Innoweave
• Social Enterprise Ecosystem Project (S4ES)
• Social Venture Exchange

3. Ecosystem Mobilization Initiatives (to address key systems gaps)

• Canadian Community Economic Development Network (CCEDNet)
• McConnell Social Research and Development
• Carleton Centre for Community Innovation (3ci)
• Centre for Social Innovation (CSI)
• New Market Funds
• The Waterloo Institute for Social Innovation and Resilience (WISIR)
• Imagine Canada
• Startup Canada
• Sauder Social Innovation Academy (UBC)

CCEDNet has been active providing input into the development of a social innovation and social finance strategy, with letters, meetings and engagement opportiunities to give voice to grassroots, community perspectives.  Following the resolution passed at the 2019 Annual General Meeting, we will continue to promote approaches that are truly inclusive, locally responsive, and build on the expertise of the sector. 

Further Resources

• Building an economy that works for the middle class - Employment and Social Development Canada news release
• Backgrounder: Investment Readiness Program Funding Recipients 
• Community Foundations of Canada:  "Social enterprises, finance and innovation in Canada gets $22M boost from the federal government"
• Chantier de l'économie sociale: "Programme de Préparation à l’investissement (PPI) du gouvernement du Canada – Le Chantier de l’économie sociale reçoit le mandat de partenaire de financement pour le Québec"
• NACCA set to launch Indigenous Growth Fund

Simultaneously Announced by ESDC

• Federal Social Innovation Advisory Council: Call for Applications