Impact Investment Ready Growth Grant
Grants - Open grants, National Grants
The Impact Investment Ready Growth Grant, funded by the Australian Government Department of Social Services as part of the Sector Readiness Fund, provides capacity building grants of up to $140,000 to mission-driven for-profit and not-for-profit organisations, allowing them to secure investment capital to scale their social impact. Applications are open on a rolling basis.
WHO CAN APPLY
The key eligibility criteria for grant applicants are:
- Your organisation is based in Australia
- Your organisation has a mission at its core that aims to solve a predominantly Australia-based social problem
- You have a sustainable and validated business model and a solid track record with the product/service you are planning to scale
- Your organisation has at least $100,000 in revenue
- You are planning to raise equity and/or debt financing within the next year
- You are planning to use the grants funds to pay for external capacity building support that helps you to raise capital
The Growth Grant Panel considers a range of factors when assessing the applications. The most important ones include:
- What is the grant leverage, i.e. the ratio between investment sought and grant amount?
- How does the organisation measure the social impact?
- Is the organisation able to self-fund the Provider’s fees?
- Is the organisation led by a capable and experienced team?
- Do the organisation and the Provider have a clear understanding of the funding they are seeking and potential investors?
WHAT GROWTH GRANTS FUND
All grant funds must be used to pay for capacity building services from external intermediaries (Providers) that are directly related to your investment readiness and securing capital. The support financed by the grant must get you all the way to your capital raising.
The support needed is largely dependent on the characteristics of your organisation, but often includes:
- Financial modelling and preparation of the investment case
- Preparation of term sheets, legal documentation and information memorandum
- Review of the organisation’s constitution and legal structuring
- Liaison with and introductions to investors
Growth Grants do not fund:
- Costs for ongoing operations of your organisation and overhead costs (e.g. rent, insurance, wages, admin)
- Early stage trials (product, clinical, MVP-stage)
- Marketing, branding and customer acquisition
- Retrospective funds (support for activities which have already taken place)
- Travel costs (except those related directly to the capital raising e.g. investment roadshow)
- Capital raising for black box funds unless directly related to existing and proven business
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