NAB Foundation Grants to Include Start-Ups and Social Enterprises
28 March 2017 at 4:08 pm
The NAB Foundation has extended its annual not-for-profit grants program worth $1.2 million to include purpose-driven start-ups and for-profit social enterprises for the first time.
Successful grant partners will also receive commitments of up to three years funding, up from one year, specifically to groups working to address issues around financial shock, and domestic and family violence.
NAB’s general manager of corporate responsibility, Jodi Geddes, told Pro Bono News that the move to include social enterprises and the longer, three-year time frame for investment would help make sure the funds invested have maximum impact.
“We are really excited that now we are broadening the availability of the grants by including social enterprises. We recognise that we really need to relook at how we can support and drive our impact differently and in new ways,” Geddes said.
“So we know that there have been big developments in the charitable sector but at the end of the day the issues are still big and we know that we need great innovation to make the impact that we are after. So we are looking at expanding the grants to social enterprises because we know that not for profits can’t do it alone.
“We are focusing on financial shock, and domestic and family violence and we have done that because that’s where we have felt that we are best placed as a bank to really make a difference and that also aligns with the fact that the grants are over a period of three years.”
Geddes said the grant funding would depend on the application and the size of the opportunity.
“Successful recipients will receive up to half a million dollars so we are estimating that there will be up to three grants per area. So it does depend on the size of the opportunity and the scale. Each grant is different,” she said.
“The 2017 NAB Foundation grants program encourages innovative thinking. These grants will help Australian not for profits and social enterprises find innovative solutions to these challenging societal issues.”
Geddes said two types of grants were available; the first supports new charities and social enterprises to develop their ideas, or alternatively, funds will help existing charities or social enterprises to grow.
Since the foundation was established in 2008, $9.2 million has been invested into 25 not-for-profit organisations supporting positive social change in communities across Australia.
Applications close at 5pm, Friday 21 April 2017.
For information about eligibility and how to apply click here.