Australian-first: NFP Partnership for Impact Investment supported by Lotterywest

Pictured (from left): Sven Stenvers, Founder & Director (Impact Seed); Justine Colyer, CEO (Rise); Hon. Michelle Roberts MLA; Dan Minchin, CEO (Chorus, via zoom);  Simon Robbins, Director, Corporate Services (Rise); Ben Hawthorn, Executive Manager, Innovation (Ruah Community Services); Kylie Hansen, Founder & Director (Impact Seed)

MEDIA RELEASE

Chorus, Rise , and Ruah Community Services are excited to announce funding from Lotterywest for a WA first – a collaboration addressing social and sustainability challenges through impact investing into innovative social enterprise models in collaboration with Impact Seed.  The funding partnership was officially announced  by the Hon. Michelle Roberts MLA at the Rise offices in Midland.

Impact Collective’s program will work hand in hand with WA changemakers and social innovators to design and adapt social enterprise models within the target social impact areas of the Collective, and support these projects towards impact investment.

The not for profit community services sector serves many hundreds of thousands of West Australians experiencing vulnerability and disadvantage accessing these services each year. The sector, which which employs over 120,000 West Australians in this vital work, is under immense pressure to explore innovative solutions to increased service demand amid funding constraints.  The unfolding negative socioeconomic repercussions of COVID has catalysed community demand for a new approach to build back better.

The Impact Collective program will focus on social entreprise initiatives tackling serious issues facing WA communities, such as the rise in Family and Domestic Violence, the lack of transportation options for older people and people with a disabilities, the reported increase in loneliness across the community, as well as upskilling the not-for-profit workforce to respond to the changing needs of the industry.

Rise CEO Justine Colyer said “We are excited at the potential of this program and have chosen these focus areas as they matter not only to the Impact Collective partners but to the WA community and if we can come up with solutions to our issues, we can assist others too.  Lotterywest support for this project will be instrumental in achieving sustainable impact”.

Ben Hawthorn, Executive Manager, Innovation at Ruah Community Services said: “Many talented and passionate social entrepreneurs fail in pursuit of meaningful social impact, not due to a lack of will, but to a lack of capital. Impact Collective exists because we accept that not all social problems can be solved by the sector that services them, nor can they be solved alone. Collectively, through a shared vision and co-investment into social enterprises we can create a step change in how we tackle the serious issues facing the WA community.”

Chorus CEO Dan Minchin said “Chorus was created to do things differently. Our commitment to bring a fresh approach to community service makes Impact Collective a logical and exciting step to take.”

“Impact Collective’s partnership is the first of its kind in Australia, and with funding from Lotterywest is a game-changer in the WA not for profit community services sector, as it demonstrates a commitment by the sector to partner in building and impact investing in social enterprises that create jobs and social impact hand in hand.” Impact Seed Founder & Director, Sven Stenvers said.

Impact Collective will soon be releasing expressions of interest for WA social entrepreneurs and changemakers to participate and partner with the Collective.

As a member of the Impact Investment WA Alliance which launched in 2019, Impact Collective is also part of a broader network of cross sector partners who are working towards growing finance for good, and government policy for social innovation, social procurement, and the social enterprise sector in WA broadly.

For more information visit www.impactcollective.org.au.

ENDS

Media enquiries: info@impactcollective.org.au

Definitions:
A Social Enterprise is an enterprise that exists primarily to deliver a measurable social, cultural and environmental impact. It derives most of its revenue from trading and it reinvests a significant proportion of its profit in furthering its mission.

Impact Investment sees investors actively seek out funding opportunities that are focused on generating actively measured social, cultural and environmental impacts, alongside a sustainable financial return. The result allows investors to sustainability contribute to their communities while meeting their investment objectives. Types of impact investment include early or late stage funding for social enterprises, or equity/debt investment into investable impact projects in areas as diverse as housing, clean energy, regenerative agriculture, agroforestry; It can also be supported through instruments such as social procurement (mandating a target for purchasing through social enterprises, or pay for performance contracts such as social impact bonds.

About Chorus
Chorus provides in-home and community support so that people can live the life they choose. We support seniors, people living with disability and those in mental health recovery. More than 1000 staff and volunteers partner with customers to deliver a tailored plan that meets individual needs. Chorus was created to do things differently, through our merger genesis. This is matched by our commitment to bringing a fresh approach to community service, thanks to our experience in community-based ways of working, volunteer heritage, diverse service mix and willingness to embrace risk. www.chorus.org.au

About Rise
Rise assists people with disabilities, mental health issues, the aged, young people at risk, carers, people fleeing from domestic violence, and others of disadvantage. Since 1983, Rise has established itself as a leading provider of proactive, highly personalised solutions to people in our community. www.risenetwork.com.au

About Ruah Community Services
For 60 years, Ruah has been connecting the WA community by empowering vulnerable and disadvantaged people to create meaningful change in their lives. Providing support across three core areas – housing and homelessness, mental health and wellness and family and domestic violence – the Ruah team works from 11 offices across Perth, Geraldton and Albany, and directly at our client’s homes, to create opportunities and build a better, more connected community. www.ruah.org.au

About Impact Seed
Impact Seed is a proud B-Corp and Western Australia’s peak market builder for impact investment, impact measurement & social enterprise. Since 2015 Impact Seed has supported impact businesses, government, not-for-profits, foundations and family offices in building, articulating and investing in purpose driven businesses and impact projects, bridging investment and philanthropy. www.impactseed.org