Foundation North is proud to once again be one of the programme partners funding Ākina’s 2023 Impact Investment Readiness Programme (IIRP). We have contributed alongside Bay Trust, Russell McVeagh and the Tindall Foundation.
Congratulations to the first three funding recipients from the 2023 round! Based in Te Moana-a-Toi, Bay of Plenty and Tāmaki Makaurau these businesses are creating innovative ways to create positive impact in housing and climate action.
About the Ākina IIRP
This programme is designed to encourage more investment into impact-driven pakihi , and increase the overall impact made by social enterprises and other purpose-led businesses in New Zealand.
The IIRP provides funding of up to $25,000 for impact-led businesses to spend on professional support that gets them ready for investment. After completing the readiness work, recipients typically go on to receive significant investment, and grow their business and impact accordingly. Since the programme started in 2017, Ākina IIRP recipients have been granted $1.1m in funding, and then went on to raise over $89.0m in impact investment … that’s 81 times the amount granted!
“Since the programme started in 2017, Ākina IIRP recipients have been granted $1.1m in funding, and then went on to raise over $89.0m in impact investment … that’s 81 times the amount granted!”
The Ākina Impact Investment Readiness Programme is currently the only one of its kind in Aotearoa. In Australia, the government supports an investment programme similar to this one; and Ākina is calling for the New Zealand Government to accelerate the growth of the New Zealand impact investing market.
Round one recipients based in the Foundation’s rohe are Mutu and Good Grub Agritech.