“Reason often makes mistakes, but conscience never does.” – Josh Billings
Earlier this week, Canada witnessed first of its kind partnership between government and private sector as Province of Ontario is making it easier for businesses that have a positive social or environmental impact to get funding needed to grow and succeed in the competitive angel investing market.
The province, in partnership with the Network of Angel Organizations-Ontario (NAO-Ontario), is launching the Impact Angel Alliance. The Alliance will encourage more investors to help kick-start promising, high-growth social ventures in Ontario. This will be Canada’s first impact investing angel network.
The Alliance will work with NAO-Ontario to:
- Raise awareness of social ventures among established angel investor groups.
- Help diversify angel group membership to help bring in more women, visible minorities, and new Canadians.
- Bring together angel groups and non-traditional funding partners to increase co-investment into social ventures in priority areas, such as community health and sustainable craft industries.
- Research emerging trends, challenges and opportunities in impact investing to reduce risk, save time and attract better opportunities.
Supporting investment in businesses that have social or environmental benefits is part of the government’s plan to build Ontario up. The four-part plan includes investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario’s history, creating a dynamic, innovative environment where business thrives, and building a secure retirement savings plan.
Source: Ministry of Economic Development (Canada)