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CMC SELECTED AS ECOSYSTEM BUILDER PARTNER IN LATEST ROUND OF ESDC’S INVESTMENT READINESS PROGRAM

21 Apr 2022 | News

OTTAWA, ON— Once again, Co-operatives and Mutuals Canada (CMC) is proud to announce it has been selected by Employment and Social Development Canada (ESDC) as the Ecosystem Builder for the Co-operative Sector, as part of the renewed Investment Readiness Program (IRP). This program is a key component of the Social Innovation and Social Finance (SI/SF) Strategy, which provides access to financial opportunities for social purpose organizations (SPOs), including co-operatives.

“CMC is pleased, once again, to have been selected by ESDC,” explains Executive Director Hugues Bourgeois. “The co-operative sector is an incredibly important pillar of the social innovation and finance sector. During the last cycle, a total of 59 co-operative projects received over $3.46 million in funding as social purpose organizations and we are excited to expand this reach during this second iteration.”

To kick off this renewed program, CMC has launched its revamped IRP Portal. Here, co-operatives and mutuals will find additional information on the IRP program itself, a list of various partners and co-op developers as well as information on how to apply for funding. As funding information becomes available, CMC will be updating the portal accordingly.

For those who identify as a co-op developer or other allied professionals such as a lawyer or accountant, and wish to participate as a service provider, CMC encourages you to please register as a service provider. A listing on the portal is free and will also be featured on CMC’s main website.

Lastly, CMC is pleased to announce that our activities related to the Investment Readiness Program (IRP) will be led by Sope Ogunrinde. She will work with sector stakeholders to mobilize co-operatives to apply for capacity-building grants and collaborate with numerous other partners within the social innovation and social finance ecosystem.

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About the Co-operatives and Mutual Canada

Co-operatives and Mutuals Canada is the national/bilingual association that unites, promotes and supports the development of the co-operative economy. CMC does so by facilitating co-op development, advocating with governments and conducting research to improve public policy. CMC’s members are reflected throughout the Canadian economic landscape including in finance, insurance, agri-food and supply, wholesale and retail, housing, health, forestry, education, funeral services, public utilities and community development. 

 

IRP Program Contact:
Sope Ogunrinde
Project Manager, Social Innovation and Social Finance
sogunrinde@canada.coop

 

Media Contact:
Véronique Boucher
Manager—Communications
vboucher@canada.coop

 

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