Centre for Social Innovation | Newsletter | November 20, 2013

Perhaps you've heard something through the grapevine about a Catapult at the Centre for Social Innovation...

No, we're not building an expensive launching device. We are, however, opening up the second round of the Ontario Catapult Microloan Fund!

This social finance initiative between CSI, the Province of Ontario, Alterna Savings, Microsoft Canada, TD Bank Group, KPMG, and Social Capital Partners has been designed to help promising early stage entrepreneurs and innovators with low interest loans of $5,000-$25,000.

The next round of applications opens on November 19, 2013, and closes January 3, 2014. Loans will be disbursed on February 12, 2014.

To be eligible, the social venture must:

• Be an Ontario-based social venture
• Be a member of the Centre for Social Innovation, but not necessarily a tenant of CSI (see Community Membership)
• Have fewer than 25 full-time employees
• Have annual revenue under $2 Million
• Be addressing a social, environmental, economic, or cultural challenge

CSI and an appointed review committee comprised of CSI’s partners and independent experts administer the Ontario Catapult Microloan Fund. Although the review committee holds the final decision, CSI community members, mentors, and issue experts are engaged as a part of the process to help make the most informed decisions.  Everyone involved looks for the following key success factors:

1. Business Plan
2. Social Impact
3. Innovation
4. Marketing Plan
5. Reason to Believe /Credibility
6. Financial Projections

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