June 11, 2014
The Ian Potter Foundation has awarded a 50th Anniversary Commemorative Grant of $500,000to Social Traders for their Social Enterprise Procurement Exchange.
Based in Melbourne, the Foundation makes grants nationally to support charitable organisations working to benefit the community across a wide range of sectors and endeavours. Through its grants, the Foundation seeks to encourage excellence and support Australia’s talent: the visionaries, social entrepreneurs, scientists, academics and researchers, artists and teachers, and those who dedicate themselves to bettering our communities for the benefit of all.
It is often the case that social enterprises, especially small ones, do not have the capacity to attract significant contracts. Similarly, companies that want to explore social procurement are often not aware of good social enterprises. Social Traders has a registry of over 5000 social enterprises and will be able to match companies with adequate providers.
The Social Enterprise Procurement Exchange will initially establish a network of 30 employment-based social enterprises and develop market opportunities that will increase their economic and social impact by brokering $10 million in new social procurement contracts from leading Australian companies.
Chief executive officer of The Ian Potter Foundation, Janet Hirst paid tribute to the project: “The Social Enterprise Procurement Exchange holds great potential to connect the worlds of social enterprises and big business with benefits for both parties. This is a program with truly transformative potential.”