Social finance is attracting increasing attention across Canada, and there is potential for its use in the settlement sector. The aim of this project is to present and to evaluate a set of social finance models that could be applied to the settlement and integration (S&I) sector. The project was funded by Immigration, Refugees and Citizenship Canada’s (IRCC).
The research team – including Purpose Capital and the Carleton Centre for Community Innovation – conducted a comprehensive review of social finance models that could be applied to the S&I sector, and assessed the relevance of these models to the Canadian S&I sector and alignment with IRCC’s objectives.
Market Assessment Report (PDF) – Purpose Capital and the Carleton Centre for Community Innovation conducted a global scan of social finance models that could be applied to the settlement and integration (S&I) sector in Canada. The report begins with a high-level literature review of the S&I and social finance sectors, in order to summarize relevant trends and issues. It then reviews the potential opportunities for social finance, drawing on the “lifecycle” of a newcomer and which models apply for the respective stages of settlement and integration, and then includes a comparative analysis of the models across several dimensions. Drawing on interviews with key informants, the report then describes several issues that relate to the design and implementation of models, and conclude with an assessment of best practices and recommendation for government engagement. The annex describes 17 models in more detail, from an initial list of 48 models.