SOCIAL INNOVATION FUND IRELAND Arts to Impact Fund.

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Presentation transcript:

SOCIAL INNOVATION FUND IRELAND Arts to Impact Fund

WHO WE ARE World Class Ecosystem for supporting social innovation Created by the Irish Government 1:1 Match Fund with Government (Dormant Accounts Fund) Stimulate capital market - philanthropy & investment Provide Growth Capital

WHAT WE BELIEVE Social Innovation Fund Ireland will provide growth capital and support to the best social innovations in Ireland, helping to scale and maximise their impact. 

Match Fund Mechanism Every euro donated is matched by a euro from the Department of Rural and Community Development from the Dormant Accounts Fund

How we work Awards Accelerator Cash Grant Open call for Applications Due Diligence Awards Selection Process Accelerator Cash Grant Diagnostics Mentors Strategic plan Theory of Change Social Impact measurement Access to SIFI Network

In May 2018, the Department of Rural and Community Development delivered on its Programme for Government Pledge to build a €50 million Social innovation fund.

Corporate, Foundation and Trust Backed Funds Our Funding Models Corporate, Foundation and Trust Backed Funds Multi Donor Funds Issue Based Funds Growth Fund Innovators Circle

183 €6.98M WHAT WE HAVE ACHIEVED 22 121 €36.8M Funds Jobs Innovations Raised over €36.8m in funding Delivered 22 Funds including Health, Tech for Good, and Education Backed 121 social innovations Enabled €6.98M in follow-on funding for our awardees Created 183 jobs 22 Funds 183 Jobs 121 Innovations €36.8M €6.98M

WHAT DOES THE ARTS TO IMPACT PROGRAMME OFFER? 50% uplift on philanthropic funds raised by applicants (applicants must provide evidence to verify the private funding has been secured) Capacity building programme including strategic planning, communications and impact measurement Peer to peer networking and knowledge sharing Workshops and one-to-one support A platform for awardees to showcase their work at an awards event

Arts to Impact Fund Objective of the Arts to Impact Fund The goal of the fund is to support the innovative use of arts and culture as a means to improve skills development and to promote social inclusion for children, adolescents and adults. Projects can focus on prevention or intervention, in order to develop or improve creative, cognitive, social and emotional skills and other specific learning outcomes.

Should you apply? Raised over €14m in philanthropic funding SIFI Criteria Fund Criteria Advantageous Criteria Raised over €14m in philanthropic funding Arts and Culture as your core methodology Developing or improving creative,emotional and social cognitives skills Social inclusion approach Research or evaluation component, €20,000 per year Philanthropic funding commitment for 2 years Supporting children, adolescents or adults experiencing disadvantage Marginalised communities Demonstrate partnerships Proposed 2-4 year duration Holistic approach Attainable and measurable outcomes Social issue Innovative Ambition to scale Based in Ireland Main impact in the Republic Not for profit legal form Tested

Sports to Impact Awards Offer Donation Request Children and Youth Education Fund Uplift Your funds per year No. of years Total donor funds SIFI Uplift (50%) per year SIFI total uplift for 3 years Total funds (Including donor and SIFI uplift) over 3 years €20,000 3 €60,000 €10,000 €30,000 €90,000 The Sports to Impact Fund provides a total uplift to the €60,000 of €30,000 making a total fund of €90,000. This €90,000 is paid over the 3 years at €30,000 p.a (€20,000 donor funds and €10,000 SIFI uplift).

Testimonial from previous SIFI Education Fund Awardees "Our application to the Education Fund enabled us to approach new funders and having the uplift made it so much simpler to approach people. The uplift went not just to our project, but also to research and validation and this as much as the extra income made our donors so committed to the cause” Jonathan Doyle Citywise “The uplift has been hugely beneficial for us. We have been able to expand from four to six schools. Not only has the fund been financially beneficial but also the peer learning network has been a huge advantage, a huge learning to us and brought our thinking to a whole other level’’ Janice Mc Garry Aspire2 …...”the fund support has been fantastic, in terms of the training provided by SIFI around key elements, thinking through our entire approach from theory of change to modeling what our end game is going to be and how we are going to achieve social impact” Thomas Murray An Cosán

Thank you For further information please contact: Anne Dermody Anne@socialinnovation.ie 087 2593884 Pádraic Vallely Padraic@socialinnovation.ie 085 1261085 Thank you @SInnovationIRL Socialinnovationfundireland