Impact Investing Australia (IIA) CEO David Hetherington has celebrated the launch of new Social Enterprise Development Initiative (SEDI) capability building grants.

Over the next two years, IIA will administer the program which supports social enterprises and intermediaries to strengthen their ability to drive positive social change. SEDI also includes an education and mentoring component, with a new online resource launched to help social enterprises navigate the sector.

“Social enterprises play a critical role in the broader impact investing market, and we’re excited to be able to assist in their growth. Our goal is to help strengthen these organisations, enabling them to broaden their reach and deepen their impact for vulnerable individuals and communities,” said Hetherington.  

Social enterprises which deliver a defined social benefit, including charities which trade, can apply for a SEDI capability building grant of up to $120,000 to help grow their business, scale their impact and further their missions of creating positive social change.  

SEDI grants are limited to social enterprises delivering services for people living in Australia experiencing entrenched disadvantage in a range of social outcome areas, including: communities, employment, education, health and disability, and First Nations Australians.

Capability building services from intermediaries and other businesses, include financial services, evaluation, business consulting and legal advice. better charity is listed as an intermediary here.