FAQs for the Social Enterprise Capability Voucher Program
Who can apply for the grant?
A: If you are a social enterprise organisation then you can apply for this grant.
The program defines a social enterprise as an organisation that:
- Delivers economic, social, cultural, or environmental benefit and impact to the public &/or community.
- Draws a large part of their income from doing business; and
- Reinvests most their profit/surplus into delivering economic, social, cultural or environmental value to society.
If you are a Not-for-profit organisation, you can also apply if you:
- Have a social enterprise;
- Are starting a social enterprise; or
- Are transforming to a social enterprise model.
Organisations will need to register as part of the Map for Impact project being conducted by the Centre for Social Impact at Swinburne University (unless you are already included as part of the project). Please visit this link for registration instructions.
Is there a limit on how much I can apply for?
A: Eligible organisations can apply for up to $25,000. Co-contribution is required by all applying organisations. See below for details.
What are the co-contributions requirements?
A: The Social Enterprise Capability Voucher Program will fund up to 80% of a project, capped at a value of $25,000. If your application is successful, you will need to be able to contribute the remaining value of the project.
Here are some examples of how it would work:
Example 1: A project costing $30,000. In this instance, the Social Enterprise Capability Voucher Program would fund $24,000, which represents 80% of the project value. Your organisation would need to contribute the remaining $6,000 (20%) to the project costs.
Example 2: A project costing $50,000. The Social Enterprise Capability Voucher Program will grant successful applicants a maximum project value of $25,000, not 80% of the project which equals $40,000 and exceeds the program funding cap of $25,000. In this instance, successful applicants would need to fund the additional $25,000 to meet the total project costs.
What can I use the funds for?
A: Successful funding can be used to engage Impact Co. to work on projects that meet the following objectives:
- Improvement of business effectiveness through the implementation of new business systems and processes designed to increase productivity.
- Discovery of new markets opportunities and designing processes to reach those markets.
- Identification and management of investment and funding opportunities aimed to enhance social enterprise operations, or
- Strategic planning to increase social enterprise access to government and corporate procurement opportunities.