SVA entered WA in 2012 as the lead partner of a Consortium, which managed a $10 million grants program on behalf of the State Government of Western Australia to support Social Enterprise. SVA now has a team in Perth driving our vision of a robust, vibrant sector that demonstrably improves social outcomes.
Supporting Social Enterprise Development
WA Social Enterprise Fund – Program Stats
- SVA led a Consortium to manage the fund. The consortium included Social Traders, Centre for Social impact (CSi), and Western Australia Council of Social Service (WACOSS).
- Over 550 organisations reached
- 154 applications received across two funding rounds
- Over $5 million in grants committed across two funding rounds
- 40 organisations funded for capacity building
- 21 organisations funded to commence or grow a social enterprise
Continued support to the social enterprise sector in WA
Building on our experience delivering the WA Social Enterprise Fund, SVA plans to continue to support the development of the social enterprise sector in WA. We recognise the complexity of sustaining and scaling social enterprises and we see a significant gap in the market (in both funding and capacity building) between early stage support and impact investing funds that offer repayable finance.
We are currently exploring the possibility of raising and managing a philanthropic social enterprise fund to support established social enterprises to scale and grow impact through funding and individualised business support. We hope to launch this fund in early 2015.
SVA’s specialist consulting practice, SVA Consulting, assists organisations in Australia to achieve greater social impact.
Since 2007, SVA Consulting has supported over 300 clients through 550 projects, including a number of innovative non-profit organisations and social enterprises in WA. Examples of SVA Consulting’s work in WA includes:
- Supporting Brightwater Care Group to define and capture the program logic for their sub-acute care facility;
- Working with Kanyirninpa Jukurrpa (KJ) in 2011 and again in 2014, completing a detailed evaluation of the social, cultural and economic impact of KJ’s On-Country programs with the Martu people in the Western Desert;
- Helping the iBn Corporation to develop a strategy to achieve its community health, education and prosperity objectives in a way which resonated with its community; and
- Supporting Baptistcare WA to develop a forecast Social Return on Investment analysis for their Partners in Purpose Disability program that will provide a point of comparison to analyse the success of the PIP program in the future.
SVA Impact Investing
SVA is actively seeking to expand the market for impact investing in Australia – that is, funding directed to achieving social outcomes and on which there is also a financial return. The SVA Social Impact Fund is a $9m* fund established to provide loans and equity investments to social enterprises, and is actively looking for suitable social enterprises in WA in which to invest.
SVA is also managing the first social benefit bond in Australia, the Newpin Social Benefit Bond in NSW. The trial is being closely watched by state governments around Australia as a way to increase investment in preventative services to deliver improved social outcomes and consequent savings to government.
* Numbers are current as at 30 June 2014.
SVA collaborating for social change
SVA has convened a number of advocacy events and projects with national scope, based on our belief that no one sector can drive the scale of social change the country requires. SVA brings together the philanthropic, corporate, government and social sectors to spark debate, showcase best practice and demonstrate alternative solutions giving disadvantaged people a better chance to achieve at school, gain employment and thrive in life.
SVA venture partnerships
SVA currently supports 7 high potential non-profit organisations that are fostering solutions to some of the most pressing challenges facing our community. We help to create better education and employment outcomes for disadvantaged Australians by bringing the best of business to the social sector, and by working with partners to strategically invest capital and expertise.