In partnership, the Yellowknife Community Foundation (YKCF) and the Yukon Foundation are offering eligible social enterprises that are working to do good in their Northern community(ies) the opportunity to access funding through the Investment Readiness Program (IRP). This is part of a $50 million national initiative, which is being delivered by Community Foundations of Canada and other support partners, and is being funded by the Government of Canada to support and expand social enterprises from coast to coast to coast.
The Investment Readiness Program is open to a diverse range of organizations and businesses including charities, non-profits, co-ops and social enterprises. The program can provide $10,000 to $75,000 to create, manage, and expand social enterprises in order to get ready to accept investment.
Quote by Michael Pealow, Chair of the Yukon Foundation – “There are so many great social-purpose organizations in the Yukon and NWT that are thinking about innovative new ways to serve our communities or to increase the impact of what they do. This fund is for those organizations, to help them get into a better position to attract investment in what they do.”
Quote by Jason Snaggs, Vice-Chair of the Yellowknife Community Foundation – “We are looking forward to seeing the IRP help successful applicants grow their impact even more”.
The Investment Readiness Program will help social enterprises across Canada grow, and build their capacity to accept investors, and participate in Canada’s growing social finance market.
“Social enterprise teams from coast to coast to coast are demonstrating how business can be done differently. They are daring to rethink business models to create a more sustainable, equitable and inclusive future. Community Foundations of Canada is in awe of the innovative projects we are funding. We look forward to seeing the positive impacts of this next round of projects through the Investment Readiness Program”, says Andrea Dicks, President of Community Foundations of Canada, a national partner in the Investment Readiness Program.
Minister of Families, Children and Social Development, Karina Gould, notes that “our Government sees great potential in growing social innovation in our communities. More Canadian organizations and businesses are offering smart solutions to reduce poverty, reach social equality and
fight climate change. The Investment Readiness Program will help them scale up and become investment-ready, so that they can create impacts for Canadians for years to come.”
Applications for the IRP, of which the Yellowknife Community Foundation and the Yukon Foundation is a regional partner, should be submitted by November 22, 2022 through the program’s website.
The Yellowknife Community Foundation was formed in 1993 to provide interested individuals and organizations with a means of supporting projects in our community for the enduring future. The Foundation is not singularly dedicated to any specific area of support. It embodies a simple concept – that people working together can make a difference.
Yukon Foundation was established in 1980 with $1,700 and has grown to over $8 million, administering scholarships and grants. Yukon Foundation is all about Yukoners helping Yukoners achieve their potential through scholarship for students and grants for projects.
About the Program
Community Foundations of Canada is a partner in the Investment Readiness Program (IRP), which helps allocate funds from the Government of Canada to social purpose organizations preparing to successfully participate in the social finance market. As a Regional Partner with CFC in delivering the IRP, the Yellowknife Community Foundation and the Yukon Foundation will help empower others to unlock innovative solutions to social challenges.
For more information contact:
Yukon Foundation: Michael Pealow, Chair / Phone: (867) 335-3350 / Email: chair@yukonfoundation.com
Yellowknife Community Foundation: Sophie Kirby, Executive Director / Phone: (867) 446 4527
Email: information@ykcf.ca
