Earlier this year, Impact Investing Australia joined with Philanthropy Australia to launch a strategy brimming with the capacity to change the way non-government organisations think about funding their strategies, programs and activities.
Impact Investment Ready came to market with two key grants programs:
The Discovery Grant is a new program this year, and aims to distribute $500,000 in grant funding to grow the investment pipeline and support the sustainability of the Industry.
Philanthropy Australia have been able to do this through a partnership with NAB (who have contributed matched funding of $250,000) and other funding partners: English Family Foundation, Rowley Trust, Snow Foundation, Vincent Fairfax Family Foundation, CAGES Foundation, Equity Trustees and Payce Foundation.
The Discovery Grant is essentially designed to build capacity in organisations so they’re ready to take advantage of future impact investment opportunities.
Philanthropy Australia’s Chris Wootton, told Pro Bono News that impact investment was a significant opportunity for not-for-profit organisations to secure funding.
“Impact investing now opens up… a whole new range of capital, with huge potential,” Wootton said.
“It’s a much larger source of funds, it’s potentially 20 times what is available in grants.
“A lot of not-for-profits aren’t what we call ‘impact investment ready’.
“[There’s] a gap in terms of not-for-profits either being able to identify what makes a good impact investment proposal or in actual fact they [don’t] have the capacity either internally or at the board to develop such proposals,” Wootton told Pro Bono News.