Within the framework of this column, we are presenting a funding program designed to better equip organizations, and prepare them to approach funding providers to get financing for the start-up of a project that will increase the impact of their social mission: the Investment Readiness Program (IRP).

Having just been launched by the Chantier de l’économie sociale, the IRP is an initiative funded by the Government of Canada for both the start-up organizations and those already in existence.

Eligibility

To be eligible for the IRP, the organization must maintain its head office and conduct its activities in Quebec. The program is primarily geared to non-profit organizations, cooperatives, but also to for-profit private firms with a social and/or environmental mission.

Eligible expenses

Eligible expenses include, among others:

• Specialized support services by a qualified professional that acts as an external resource;
• Financing studies (organizational diagnosis, market study, cost analysis, business plan, plans and specifications, technical studies, etc.);
• Hiring of core internal human resources deemed essential to the realization of the investment readiness project;
• Production of prototypes;
• Research and development;
• Certain operational expenses (rental of space, technology equipment, etc.);
• Acquisition in technology, software or software package, patents and any other similar expenses.

Funding Arrangements

The funding of the IRP may reach 80 % of the project financial package.  The remaining 20 % can come from other providers or from an in-kind or cash contribution of the organization. The in-kind contribution cannot exceed 10 % of the financial package.

Filing of an Application

• The program ends on March 31 2021. Requests under 100 000 $ can be submitted at any time;
• For requests above 100 000 $, there are two closing dates: February 12, 2020 or May 27, 2020.

The Chantier de l’économie sociale offered a webinar about this program on January 28, 2020. You can view the presentation et also watch the recorded webinar by clicking here.

Further information on this program, please visit the dedicated website at irp-ppi.ca.

Further information on the social economy, we invite you to visit our social economy section and to consult our tools on this subject.