The Solutions Finance Accelerator provides support to intermediaries working on innovative financial products that address market gaps in domains aligned with the SDGs in Canada. The Accelerator consists of three types of support aimed at assisting intermediaries in achieving their goals: customized types of concessionary capital, mentorship, and access to a pool of experienced service providers.
Access to funds
Successful applicants will have access to a mix of financial tools, including concessionary capital. The program is intended to support intermediaries requiring operational funding at early stages of their journey. That is, intermediaries that are past the concept phase and that need support to begin their implementation.
Mentorship and Support:
Developing and scaling innovative financial products that address the fundamental social and environmental challenges of our time can feel slow and isolating. We recognize these challenges and are committed to providing successful applicants with capacity building and networking support.
Access to experienced service providers
We will coordinate access to a pool of experts across various fields who can provide technical support to successful applicants. The service providers will be a mix of traditional organizations — such as legal and accounting firms — and those delivering more impact focused services. By undertaking this work, we are striving to enhance the number and quality of service providers in the social finance marketplace.
What market gap is this program addressing?
Traditional forms of granting and impact investing don’t provide sufficient funds to effectively help solve our social and environmental challenges. Grants are limited to registered charities and many impact investments are either too small or too risky to attract mainstream investors. We need to support financial intermediaries who can de-risk investments, provide added value to investors and investees, and effectively deploy capital to communities, organizations or groups in need.
Financial intermediaries are perfectly positioned to pool significant amounts of diversified capital and effectively deploy it to numerous organizations, groups and communities across Canada. However, intermediaries in the social finance market place often face barriers to develop and test their innovative financial mechanisms. They need access to pre-development funds and precursor capital, both of which are sorely lacking at the moment.
This program strives to accelerate the rate and scale of change in the marketplace. It can accomplish that by helping innovative intermediaries be investment ready and then match them up with institutional capital.