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The Growth Grant
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The Impact Investment Ready Growth Grant provides impact businesses and mission-driven organisations with grants of up to $140,000 for business, financial, legal and other capacity building support from providers to secure investment.
The Growth Grant was originally established as the 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 29 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. Having been renamed the Impact Investment Ready Growth Grant in early 2017, the initiative developed to invite broader participation of the corporate, community and philanthropic sectors in the investment readiness process of impact businesses.
In late 2018, Impact Investing Australia was selected as the administrator of the $7m Australian Government Sector Readiness Fund (SRF) to enable for-purpose businesses to grow their impact. The $7m SRF, funded by the Department of Social Services, will be managed through an updated version of the IIA Impact Investment Ready Growth Grant.
Growth Grants were created in recognition of the potential for 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. They support enterprises that are high growth, can deliver positive social outcomes and have the potential to secure capital investment.
On our journey to build a well coordinated and efficient impact investment market, Growth Grants address gaps in three key areas: Funding for organisations, deal pipeline for investors, and development of capacity builders.
Yume is an online platform where food producers, manufacturers, wholesalers and distributors can sell surplus produce that may otherwise go to landfill or be sold for little or no profit.
Use of Grant Money
Maths Pathway is a cloud-based e-learning system that transforms rather than tweaks
the way that maths is taught.
Ethical Property Australia creates the spaces social impact organisations need to make a difference including raising impact investment to purchase and refurbish properties, pre-purchase due diligence and asset management and property management services.
Vanguard Laundry Services (VLS) is a startup social enterprise laundry backed by Toowoomba Clubhouse and Social Ventures Australia, focusing on employing people living with mental health issues in Toowoomba.
The Water and Carbon Group (WCG) designs, builds and operates waste water infrastructure specialising in lower cost, low energy dependent solutions servicing government and private clients nationally.
Level 13, 114 William Street
Melbourne Victoria 3000
Telephone: 0478 544 523
Telephone: 1300 605 449 (tollfree)
The Impact Investment Ready Growth Grant is managed by:
Grant decisions are made by an independent expert panel:
Independent Advisor on Impact Investing
Good Shepherd Microfinance
National Australia Bank (NAB)
Impact Investing Australia