Transcript of "Impact: A Social Enterprise Strategy for Ontario"
Bring Food Home Conference – November 2013
Ontario’s strategy to become
North America’s leading
jurisdiction for social
A $25M investment in Ontario’s
social enterprise ecosystem
Support the creation of 1,600+
new jobs in the sector
Part of Ontario's Plan for Jobs
and Growth to support a
dynamic and innovative
There are around 10,000 social
enterprises in Ontario.
Source: Social Economy Centre, University of Toronto
What Do Social Enterprises Look Like?
Social Enterprise Sector
For Profit, Social
Ontario’s social enterprises employ more
than 160,000 people serving 3.4
million customers per year. They
create opportunities for the people they
work with and the communities they
An Ontario Social Enterprise Chronology
Impact - A
Ontario's New Office for Social Enterprise
Part of the Ministry of
Trade & Employment
Connect and promote
Work in and out of
government to support social
Attract more businesses to
deliver social good while
generating revenue for
Impact: A Social
Launched in September 2013
Impact Strategy: The 4 Pillars
Pillar 1: Connecting, Coordinating, Communicating
• Collect baseline data on the sector, including job creation and economic
• Introduce legislation to enable the creation of “hybrid corporations.”
• Publish an annual report to track progress and identify areas for learning.
• Launch an Open for Business Roundtable process to identify and resolve
administrative and regulatory burdens.
Pillar 2: Building the Social Enterprise Brand
• Host Impact Ontario in March 2014, in partnership with MaRS, SOCAP
and RBC to give international investors opportunities to connect with
Ontario's best and brightest social entrepreneurs.
• Launch SEOntario.org – a one stop information web portal where
entrepreneurs can access services and supports.
• Increase the reach of ONE, the Ontario Network of Entrepreneurs, to
support and promote social enterprises.
Pillar 3: Enabling a Vibrant Social Finance Marketplace
• Promoting the new Social Venture Connexion
(SVX), an online investment platform and the first
of its kind in North America.
• Pilot at least one Social Impact Bond (SIB) in partnership with
innovative service providers and impact investors.
• Launch the $4M Social Enterprise Demonstration Fund to pilot
social finance projects across the province.
• Make new social finance tools available, including crowdfunding.
The Ontario Catapult Microloan Fund for Social Entrepreneurs
In January 2013, the Minister of Economic Development and Innovation approved a grant of
$250,000 to the Centre for Social Innovation (CSI) to establish a pilot-scale Social Enterprise
CSI leveraged $350,000 from private investors to implement and fully administer a $600,000
microloan fund (provides low-interest loans plus services and supports) to eligible Ontario-based
Pillar 4: Delivering Services, Supports and Solutions
• Open government procurement processes to
social enterprises through a pilot program for
the 2015 Pan Am/Parapan Am Games.
• Invest in Aboriginal social entrepreneurship.
• Work with impact investors and social finance
experts to address data gaps.
Potential Social Enterprise Linkages
Entrepreneurs in agricultural sector may face similar challenges
as other social entrepreneurs. These issues may include:
o Access to capital
o Branding and awareness
o The need for flexible business models
We are working on two key initiatives to address these issues:
o Hybrid Legislation
o Marketing initiatives
o New Social Finance Tools
Find out more:
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