Up to $100,000 is available to help organisations secure investment for scaling up their social or environmental impact.
The Impact investment Readiness Fund (IIRF) is operated by a partnership between Impact Investing Australia (IIA) and National Australia Bank (NAB).
The IIRF supports the development of the impact investment market in Australia through:
- Building capacity and capability of enterprises
- Building capacity and capability of providers
- Delivering more transactions into the market
The Impact Investment Readiness Fund (IIRF) was created in recognition of the potential of impact investing to change the way Australia addresses social issues and the important role that access to capital can play in delivering better outcomes for people and communities. It aims to bridge the gap in the Australian market that exists between mission-driven organisations in need of funding and investors actively seeking impact investment opportunities.
The Impact Investment Readiness Fund (IIRF) offers non-repayable grants up to $100k to purchase specialised capacity building support from providers (this can include but is not limited to advisory, intermediary, financial or legal services). It can also potentially cover the enterprise’s costs of putting the investment plan in place.
The Impact Investment Readiness Fund (IIRF) has intentionally chosen to allow a broad range of organisations to apply (including registered charities, social enterprises, community and voluntary organisations, social businesses, charities, mutuals, co-operatives and businesses delivering social value).
All Enterprises will be assessed on the following criteria to be eligible for a grant from the IIRF:
- The applicant demonstrates the characteristics of an investable enterprise (outlined below), in particular that it operates with an intentional social and/or environmental mission
- The enterprise is seeking capital investment in the short to medium term to scale their impact
- The enterprise can clearly articulate their business need that is currently prevent them from accessing investment capital and can explain how the grant will be used to address this
- The application is made jointly with a provider who is able to help the enterprise address this business need
- The enterprise is based in and/or working in Australia
- Successful applicants agree to NAB and IIA promoting their programs for communication and marketing purposes to inspire and educate the impact investment market
Applications close 31 March 2016.