At its core, social innovation is about collaboration. We can partner and work together to create change.
BC Partners for Social Impact
This is a network that includes:
- Non-profit organizations
- Community groups
The network raises awareness of social innovation in B.C. communities. This connects innovators so they can work together and learn from each other.
The BC Partners for Social Impact launched HubcapBC.ca in September 2014. Hubcap is a website where users can:
- Share tool and resources
- Learn about new projects
- Raise awareness of their own projects
- Connect with B.C.’s innovators
- Create a profile sharing their work and interests
Social Finance and Impact Investment
Social finance is an approach to managing money to provide both a social benefit and an economic return.
Impact investment is an example of social finance. Impact investors look for investment opportunities that will pay dividends and have a positive social impact.
The B.C. government is working with its partners to explore social finance opportunities.
Green Bonds are like traditional bonds, but are used to fund projects with environmental benefits.
In 2014, B.C. was the first province in Canada to issue a Green Bond. It was also the first to fund a public-private partnership project in North America. This bond was issued to finance the North Island Hospitals Project.
Resilient Capital Fund
This fund is a partnership between Vancity and the Vancouver Foundation and was started with a $2.2 million contribution from Government of British Columbia. It loans money to and invests in growing social enterprises. Loans and investments range from $100,000 - $1.5 million each.
Since 2011, the Resilient Capital Fund has grown to $10 - $15 million. It supports 26 social enterprises.