Archive for month: June, 2020

The federal government recently announced the first organizations that will be responsible for implementing a program created to help support and invest in social purpose businesses. The program will include financial and programming support for startups.

The Investment Readiness Program, as it is called, is a $50 million project meant to help social purpose businesses become investment ready, in order to access the $755 millionSocial Finance Fund, which falls under the government’sSocial Innovation and Social Finance Strategy. The overall strategy aims to encourage innovative approaches to address social and environmental challenges in Canada by supporting organizations ranging from non-profit charities to for-profit enterprises, like Canadian startups.

“In Canada, we are lucky to live in one of the most equal societies in the world, but our communities still face a number of social, environmental, and economic challenges,” said Jean-Yves Duclos, Minister of Families, Children and Social Development, who announced the recipients. “Social purpose businesses play a vital role in solving these issues.”

The government, through Employment and Social Development Canada, plans to invest the $755 million over the next 10 years, while the $50 million for the Investment Readiness Program will be disbursed over two years to help social purpose organizations improve their ability to participate in the market. The government claims that overall the Social Finance Fund, expected to launch in 2020, could generate up to $2 billion in economic activity.

A social purpose organization is classified on a spectrum somewhere between a non-profit charity and a purely commercial enterprise, and usually seeks a mix of pure financial and pure social returns. The Investment Readiness Program will provide social purpose organizations with the resources they need to purchase technical support, like legal or business services, that are needed to improve organizational preparedness ahead revenue generation and investment opportunities.

Three partner types to implement program

The program will be delivered through three types of partner organizations. The first, handling Ecosystem Mobilization Initiatives, will work to “address key systems gaps.” The partners responsible for this portion of the Investment Readiness Program include Startup Canada, the Carleton Centre for Community Innovation, the Canadian Community Economic Development Network, the Waterloo Institute for Social Innovation and Resilience, the McConnell Social Research and Development, the Centre for Social Innovation, New Market Funds, Imagine Canada, and the Sauder Social Innovation Academy.

Startup Canada told BetaKit said it will be using the funding to launch its ‘Knowledge Mobilization Project’. This initiative aims to recognize enterprises that are achieving the United Nations’ Sustainable Development Goals in Canadian communities. It will identify those that are highly likely to become Investment Readiness Program funding recipients and Social Finance Fund recipients. Startup Canada said it will be releasing more details on the project in the near future.

“The principal objective of the Investment Readiness Program is to improve the ability of social purpose organizations to participate in the social finance market, as well as to engage in procurement and outcomes-based funding opportunities,” a spokesperson from Startup Canada told BetaKit. “Social purpose organizations will develop their capacities along the investment readiness continuum, from early-stage innovation to investor-ready in preparation for the Social Finance Fund.”

Startup Canada said the mobilization will combine both an online digital program to engage the extensive Startup Canada network and regional activities with local startup communities from coast to coast. In addition, Startup Canada will engage social purpose organizations in a survey to gather data, insights, and analyze trends in the area of impact-oriented social enterprise.

The second type of partner, Readiness Support Partners, are responsible for making funding available to the social purpose businesses. There are four groups responsible for implementing the funding: the National Aboriginal Capital Corporations Association, which launched its Indigenous Growth Fund recently, Community Foundations of Canada, Chantier de l’économie sociale, and the Canadian Women’s Foundation.

The third type of partner, Expert Service Providers, will offer specialized knowledge to organizations to support their movement along the “readiness continuum.” These organizations include LIFT Philanthropy Partners, McConnell Innoweave, the Social Enterprise Ecosystem Project, and the Social Venture Exchange.

Source: ISABELLE KIRKWOOD, betakit.com: https://betakit.com/governments-social-finance-fund-includes-support-for-startups

#socialfinance #socialinnovation #impactinvesting #toronto #love #peace #csr #mba #sdgs #wbs #thesectorinc #bradfordturner #fundraising #charity #socialenterprise #change #sustainability #techforgood

The world is turned upside down, and it is clear that the current corona crisis is having a major social impact. This crisis is also very profound for many organizations and entrepreneurs. In times like this we need to help each other a bit. That is why we are happy to offer our time, knowledge and network in free coaching conversations (online, of course!) In the coming weeks. Do you need a sparring session or do you have a specific question about impact in general, or the impact of COVID-19 on your organization? We would like to see how we can help you with your challenge. For example, we can coach you for an hour in the field of impact management, or about the impact of COVID-19 specifically. With the latter you can think of:

What are the effects of COVID-19 on your organization?

• What negative impact do you have to deal with, and how can you manage it ? Think of your core business (processes that are standing still, fewer activities), your people (HR matters, well-being of home owners), your stakeholders (customers, suppliers, supporters).
• But also: Where do opportunities arise to make a positive social impact ? For example, by using the time, products or resources that have become available to make a positive contribution? What opportunities are there to reinvent your organization in the current situation?

We are happy to help you with a free (online) consultation to identify where the most important negative and potential positive impacts are for your organization, and how you can deal with them. 

In the conversation: 

1. We make an inventory of the most important impacts for your organization,
2. We determine where you can and want to take actions
3. We identify potential partners and channels to support those actions, including through our own network.

Based on your situation and needs, we zoom in on the most relevant matters, looking at your organizational goals and activities, and at the people, planet and profit side.

Specifically, aspects can be discussed around finances, people, products and resources, skills and expertise, social capital, and nature and the environment.

What can you think of? 

We discuss the topics relevant to you, including:

Finance

• Where is your biggest challenge with regard to available resources ?
• Which emergency measures can you claim and how? For example, postponement or reduction of payment of taxes and VAT; borrowing with government guarantees.
• How do you safeguard business continuity and crisis management ?

People 

• Employee health and wellness: what guidelines do you have for ensuring health? How do you communicate this to your people? How do you facilitate optimal but also safe working from home with data protection? What actions can you take to ensure the well-being and team feeling of employees?
• HR aspects : what does the situation mean for contracts, shortening working hours, salaries, engagements?
• Time that is released: can you use it to make a positive contribution to society?

Products and resources

• • Which physical objects and products does your organization have? Which are not used now? How else do you use it for your own organization, or to make a positive contribution to society? Consider, for example, making hotel rooms available to the homeless or using IoT and VR glasses for isolated elderly people.

Skills and expertise

• • • What knowledge and expertise does your organization have? How do you use it to make a positive impact? Can you contribute something to other organizations or society?
    • How do you use the time available to increase skills and expertise?
    • Think of: development of new products and services, training for employees.

Social and relationships

• • • What social activities does your organization normally undertake that are now stalling? For example, offering internships and workplaces for people at a distance from the labor market , volunteering , or programs aimed at participation, health and talent development . In what alternative ways can you still create an impact during this crisis?
    • How can you mobilize your network or join forces with partners to make a positive difference?
    • How do you ensure a good communication strategy with your stakeholders?

Nature and environment

• • • What natural resources does your organization normally use (such as land, water, ecosystem services)? What is the effect now that you do not use it or use it less, is there a nature restoration ?
    • Can you use the current situation to devise and test a more sustainable business model ?
    • How can you use nature reserves or other resources that you have available to create positive value?

Would you like to take advantage of this free advice? Please contact info@thesectorinc.ca

We wish everyone good luck and courage in the near future. Together we will get through this crisis!

#socialinnovation #impactinvesting #socialfinance #love #peace #change #sdgs #csr #covid-19 #mba #wbs #fundraising #consulting #socialenterprise