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. Second round applications are now open.
The purpose of the Discovery Grant is to enhance capacity, provide funding, grow the investment pipeline, and support sustainability of the sector.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.
All charitable organisations are invited to apply, who:
- Clearly demonstrate a commitment to developing a more sustainable business to achieve positive social and/or environmental outcomes via impact investing;
- Have a deep understanding of their clients and different service model options; and
- Can demonstrate an awareness of the requirements of impact investing, trading enterprises and alternative financial models.
- Source other funds (cash and/or in-kind) to add value to the capacity-building program;
- Have identified an external intermediary impact investment expert to assist and advise them on their impact investing journey; and/or
- Have NOT received previous funding for an impact investing project.
Eligible organisations which have an impact investing project – existing or about to commence – which requires capacity-building to ensure its success/de-risking may also be considered.