Applications may apply to one of the three NAFC IRP funding streams:
- Explore Stream
- Start Stream
- Grow Stream
Organizations may only submit one application for consideration per application cycle, the NAFC will host two application cycles.
Organizations can be in the early, middle or late stages of development, however the NAFC has dedicated specific amounts to various stages of development, please refer to the following funding streams to see where you fit:
EXPLORE STREAM: ($10,000-$45,000)
Social enterprises at the early ‘idea’ or ‘proof-of-concept’ stage or an existing early-stage enterprise where research and development has not been carried out. Your organization may have an idea and you would like to align a proposed solution to an identified need.
Activities could include concept development, developing a business case, business model, business plan, demonstrating and exploring feasibility, using data for planning or developing an impact measurement plan, mapping diverse funding sources, community consultations etc.
START STREAM: ($10,000 - $150,000)
Social enterprise is beyond the “idea stage” and are ready to prove a concept. For example, you have already identified the need, demonstrated the business feasibility, and/or a business plan and require funds to realize the idea.
To be eligible for this steam, applicants must provide the NAFC with appropriate proof of planning, this can be either a business plan, feasibility study or both.
This stream can include start-up expenses such as: product or service development, human resource costs directly associated with the development of the enterprise, marketing, licensing and minor asset purchases and renovations. Other expenses will be assessed at the discretion of the NAFC. Please see the list of ineligible expenses for more information.
GROW STREAM: ($10,000 - $150,000)
Social enterprise is beyond both the “idea stage” and “start up” stage and has been in operation for at least one year. The enterprise has demonstrated success and self-sufficiency and has proven positive impacts for the community.
This stream is dedicated to growing and scaling existing and successful social enterprises to new levels of investment readiness. Projects could include activities such as developing or advancing investor outreach strategies, cultivating investor relationships, preparing an investment pitch, impact measurement, deepening and fine-tuning the business model, prototyping and/or testing new products and services, marketing, digital engagement, communication and storytelling strategies, diversifying earned income and revenue streams, testing and fine-tuning business/financial models and minor asset purchases and renovations.
Organizations applying under this stream must demonstrate the success and impact of the enterprise to date.