Post on 23-Jan-2015
description
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• Ontario’s strategy to become North America’s leading jurisdiction for social enterprise
• 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 business climate
Bring Food Home Conference – November 2013
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There are around 10,000 social enterprises in Ontario.Source: Social Economy Centre, University of Toronto
What Do Social Enterprises Look Like?
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Social Enterprise Sector
Charitable andNot-for-Profit Organizations
OutcomesSocial (Charitable) Financial (Commercial)
Traditional Business Applying Corporate
Social Responsibility
Revenue Generating,Not-for-Profits
For Profit, Social Purpose Business
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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 serve.
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An Ontario Social Enterprise Chronology
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2007SiG@MaRS
formed
2008 Ontario
Innovation Agenda
2008 Poverty
Reduction Strategy
2011 Partnership
Project releases report
2009 Social Finance
Task Force releases report
2011 Social
Innovation Summit and
Wiki
2011 Expansion of
Ontario Network of
Entrepreneurs (ONE)
2012 Office for
Social Enterprise
formed
2013 Launch of Impact - A
Social Enterprise
Strategy for Ontario
Ontario's New Office for Social Enterprise
Created in November 2012
Part of the Ministry of Economic Development,
Trade & Employment
Connect and promote Ontario’s social entrepreneurs. Work in and out of government to support social enterprises. Attract more businesses to deliver social good while generating revenue for Ontario.
Impact: A Social Enterprise Strategy
for Ontario
Launched in September 2013
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3.CREATING A
VIBRANT SOCIAL FINANCE
MARKETPLACE
4.DELIVERING INNOVATIVE
SUPPORTS AND SOLUTIONS
2.BUILDING THE
SOCIAL ENTERPRISE
BRAND
1.CONNECTING,
COORDINATING AND
COMMUNICATING
Impact Strategy: The 4 Pillars
Office For Social Enterprise
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• Collect baseline data on the sector, including job creation and economic impact.
• 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 1: Connecting, Coordinating, Communicating
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• 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 2: Building the Social Enterprise Brand
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• 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.
Pillar 3: Enabling a Vibrant Social Finance Marketplace
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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 Microloan Fund.
• 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 social enterprises.
• Partners include:
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• 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.
Pillar 4: Delivering Services, Supports and Solutions
Potential Social Enterprise LinkagesEntrepreneurs in agricultural sector may face similar challenges as other social entrepreneurs. These issues may include:
o Access to capital o Branding and awarenesso The need for flexible business models
We are working on two key initiatives to address these issues:o Hybrid Legislationo Marketing initiativeso New Social Finance Tools
Find out more:
ontario.ca/socialenterprise social.enterprise@ontario.ca
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@OntarioSE