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The Department of Social Services hosts this website and the department will manage it in accordance with the Guidance on Caretaker Conventions.

Sector Readiness Fund

The Sector Readiness Fund (the Fund) is a market capability building initiative. It provides grants to assist established social enterprises to purchase capability building services that help attract investment to grow the business and increase social impact. The Fund commenced in November 2018 and will cease on 30 June 2024. 

Impact Investing Australia (IIA) is responsible for administering the Fund on behalf of the department.

Growth Grants

Through the Fund’s Growth Grants, established social enterprises can receive up to $140,000 in funding to purchase services to strengthen their capabilities in the areas of: business planning, financial modelling, capital raising, contract negotiations, legal support and/or outcome measurement and evaluation. 

Social enterprises are eligible to apply for funding if their social objectives align with at least one of 14 outcome areas. These outcome areas include communities and inclusion; employment, training and participation; health and disability; education and child development; Indigenous Australians; online services and microenterprise development.

To date, seven social enterprises have reached their investment targets with a combined investment of $21.4 million. This includes: Junglefy, Circle In, Verve Super, Energy Renaissance, Field Orthopaedics, Coviu Global and MS Queensland.

IIA is accepting applications during 2021-22 through the Fund’s Growth Grants. For more information about the application process please go to: Impact Investment Ready Growth Grant.

Resilience Grants

In 2021-22, the Fund also offered resilience grants of up to $30,000 to eligible organisations that experienced financial stress due to the coronavirus pandemic. These grants provided organisations with funding to purchase advice on strategies to continue or restructure business activities in response to the impact of the coronavirus. In 2021-22, Resilience Grants totalling $0.48 million were provided to 16 organisations.

More information on Growth and Resilience Grant Recipients can be found at Impact Investment Ready Growth Grant.

Contact:

SocialImpactInvesting@dss.gov.au

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