Impact Investment Ready Growth Grants valued at up to $100,000 each are now available for social enterprises that are looking to scale their business and impact.
Since its inception six years ago, the Growth Grant, funded by the Australian government’s Sector Readiness Fund, has already awarded over $6.8 million in grant funds to more than 70 organisations, such as agricultural farm Common Ground Project, and BackTrack Youth Works – both of which help at-risk young people. The grants are intended to help social enterprises invest in intermediary services and capacity building advice that will grow their businesses.
“Our Growth Grants program recognises the potential for impact investing to change the way Australia addresses social issues and the important role access to capital can play in delivering better outcomes for people and communities,” said Impact Investing Australia chief operating officer, Bruce Campbell. “By supporting social enterprises, we will be better placed to emerge from the COVID-19 pandemic with a more prosperous Australia”.
The grant is available to for-profit or non-profit enterprises that are delivering measurable social and environmental benefits as well as financial returns.
Grants are available until June 2022. See ImpactInvestingAustralia.com for details.