Selection Criteria

Phase Two

Up to six finalists will be selected for Phase 3 according to the following criteria:

• The viability of the business idea/concept and the feasibility of the proposed work
  
  
• The prospects for the long-term sustainability of the proposed enterprise
  
  
• The readiness and capacity of the organization to start up and operate a social purpose enterprise
  
  
• The level of participation of the organization’s Board/Steering Committee and senior management in the business planning process
  
  
• The demonstrated experience of the organization in implementing and managing a social purpose enterprise, a community economic development (CED) initiative or a comparable project
  
  
• The demonstrated experience of the organization in working with the target population
  
  
• The commitment of the organization to encouraging involvement by the target population in decision making and business development
  
  
• The match between the proposed business, the work, the skills and capacity of the target population, and the capacity of the organization
  
  
• The fit of the concept with the Toronto Enterprise Fund’s priorities and objectives

Phase Three

Seed funding will be awarded based on the following criteria:

• Clear and direct leadership from the organization for the enterprise
  
  
• The long term capacity of the organization to sustain the enterprise through grant revenue and earned income
  
  
• The long term prospects for the enterprise to generate sufficient revenue from sales to cover business costs
  
  
• The costs of starting up and operating the enterprise
  
  
• A defined market for the products or services being produced or delivered by the enterprise
  
  
• A business model that fits the type of business and the market of the proposed enterprise
  
  
• The prospects for participants from the target population to achieve positive employment outcomes
  
  
• The level of support offered to participants to help them obtain and maintain employment
  
  
• The inclusion of transition strategies for participants moving, or wishing to move, from the proposed enterprise to mainstream employment
  
  
• The organization’s willingness to involve participants in designing, starting and operating the business
  
  
• The presentation of realistic activities and timeframes in the business plan