The Impact Investment Ready Growth Grant and the Discovery Grant equip mission-driven organisations with targeted support to create tangible social and environmental outcomes.
The Impact Investment Ready Growth Grant provides impact businesses and mission-driven organisations with grants of up to $100,000 for business, financial, legal and other capacity building support from providers to secure investment.
The Growth Grant was originally established as Impact Investment Readiness Fund and responded to a recommendation made in Delivering on Impact (2014) to catalyse the impact investment market in Australia.
Since its launch in March 2015, the Fund has supported 18 organisations on their journey to investment readiness under the management of Impact Investing Australia and with seed-funding from NAB, who took a leadership role to develop the market.
Under its new name Growth Grant, the initiative enters its next stage and invites broader participation of the corporate, community and philanthropic sectors in the investment readiness process of impact businesses.
Further grant rounds will be announced in late 2017.
The Impact Investment Ready Discovery Grant provides not-for-profit organisations with grants of up to $50,000 to explore pathways towards financial sustainability and plant the seed for future impact investment propositions through capacity building.
The initiative is the second part of an Impact Investing Program established by Philanthropy Australia in partnership with National Australia Bank (NAB). The Program commenced with an education focused Australia-wide roadshow of workshops on Impact Investing: Tools & Techniques for Philanthropic Funders in 2016. On this foundation, the grant program aims to support the practical application of the learnings.
Discovery Grant second round applications opened on Monday 28 August 2017, will close on Monday 30 October and will distribute a total of $250,000 by the end of the year.
The purpose of the Discovery Grant is to enhance capacity, provide funding, grow the investment pipeline, and support sustainability of the sector.
National Australia Bank (NAB) and Philanthropy Australia have announced a $500,000 grant fund to help not-for-profits establish and grow social enterprises.
NAB will contribute $250,000 and Philanthropy Australia will match this through contributions from its trust and foundation members, creating a $500,000 grants fund, the largest in Australia, aimed at growing the number of social enterprises managed by not-for-profits.
The fund is part of a 12-month partnership between NAB and Philanthropy Australia that will also include a series of educational activities (seminar information below) designed to grow the number of trusts and foundations using impact investment as an investment strategy:
Jodi Geddes, General Manager Corporate Responsibility at NAB said the partnership will stimulate much needed new funding streams for not-for-profits and expand the way in which trusts and foundations have historically engaged with the sector.
'Increased pressure on funding and disruption to traditional funding models are putting pressure on the not-for-profit sector to develop new income streams. We believe that impact investing has a vital role to play in addressing these challenges but it will require the entire sector, including trusts and foundations, to come on the journey,' said Jodi Geddes.
'We want to help create opportunities for trusts and foundations to make investments in the sector that provide a return. This return can then be reinvested in other social enterprises allowing Trusts and Foundations to have a vastly greater impact than that which can be achieved by way of a pure philanthropic grant-based model.'
Philanthropy Australia's CEO, Sarah Davies believes the partnership with NAB will be a catalyst for real and long-term change in the role of philanthropic organisations and how they support innovative and sustainable business models for not-for-profit organisations
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In conversation with Nicole Richards at the Philanthropy Meets Parliament Summit, Daniel Lee shared his insights on topics including the role of philanthropy as a driver of systems change which addresses root causes of social challenges, the relationship between philanthropy and government and what the new political environment in the United States means for philanthropy.