The Startup Canada Social Impact Program, in partnership with the Economic and Social Development Canada’s Investment Readiness Program (IRP), supports social entrepreneurs with access to training, mentorship, funding and resources to scale-up social and environmental impact.
According to the 2020 Startup Canada Census, more than 40% of entrepreneurs are impact-driven and are interested in advancing the UN’s Sustainable Development Goals. The Startup Canada Social Impact Program aims to connect impact-driven entrepreneurs with the tools to grow their triple-bottom-line.
The Investment Readiness Program is a pilot program for the Government of Canada’s Social Finance Fund, which will invest $755 million over the next 10 years into social purpose organizations. The IRP comprises an additional $50 million over two years to make sure the organizations and entrepreneurs within the ecosystem are positioned to be ready to receive investments from the Social Finance Fund and scale their operations. Entrepreneurs can apply for between $10,000–$100,000 to prepare their business for social impact and growth.
Startup Canada’s primary role in the IRP is to raise awareness of funding amongst startups and social entrepreneurs. Our job is to make sure Canada’s entrepreneurs understand the Investment Readiness Program, its various partners, its value to their organizations, and social entrepreneurship in general.