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The Quebec social economy experience

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Chantier de l’économie sociale: networks of collective enterprises, local and regional development organisations and social movements to promote and develop the social economy

Recognition by Quebec government as a participant in economic and social development

Le Chantier de l’économie sociale

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Started as a work group out of the 1996 summit on employment and economy

Stakeholders in the social economy then decided in 1998 to make permanent the work group in charge of promoting and developing collective entrepreneurship

Chantier de l’économie sociale became an independent corporation

Le Chantier de l’économie sociale

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A general assembly and A board of directors of 32 members representing the

various stakeholders in the social economy.

Le Chantier de l’économie sociale

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Board of director: 8 Networks of social entreprises 6 Network for territorial developpement 5 regional hub 6 social mouvements (2 unions, women, et autres) 1 First nation 2 individual (research etc.) 4 non-voting (RISQ, Fiducie, CSMO-ÉSAC, Youth

comitee)

Le Chantier de l’économie sociale

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New financial tools

New enterprise models

New institutions and networks emerge

New financial tools

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Many institutional barriers Acces to capital Undestanding of social economy Commercialization strategies Image of the social economy Work on social financing and social indicators

Challenges

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Réseau d’investissement social du Québec:

A 12M$ fundContribution from: Québec governement Private entrprises:

Alcan Groupe Jean-Coutu Imasco Caisse Desjardins Banque Nationale, de Montréal et Royal

A first answer

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Réseau d’investissement social du Québec:• Technical assistance and capitalization components

484 projects $11 million investment Creation and maintenance of more than 6,000 jobs Recreation and tourism, services, recovery-recycling,

solidarity commerce, culture, etc.

A quick snapshot

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Needs for patient capital as equity Size of projects ever growing Products that complement grants and loans

Rates that take their social mission into accountCapital that remains in the business

Private and institutional investorsAn appropriate balance between risk and performanceA vehicle to receive their investment

New Challenges

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CES Trust

Contribution from: Development Agency of Canada for the Regions of

Quebec : 22.8 M$ Fonds de solidarité FTQ: 12,0 M$ Fondaction CSN: 8,0 M$ Québec governement: 10,0 M$

Total : 52,8 M$

Fiducie de Chantier de l’économie sociale

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Operations Patient Capital

Real Estate Patient Capital:

Fiducie de Chantier de l’économie sociale

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29M$ invested in 119 projects

32% in operating patient capital39% Real estate patient capital29% mix of both

Fiducie de Chantier de l’économie sociale

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Need for community Housing Response against « social bonds » Response to the diminution of gouvernement

program Beeing a actor in financing

Housing Challenges

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With the actors of community HousingIn adition to governement programProjet pilote de 1 200 unités sur 3 ans:

2013: 200 unités 2014: 500 unités 2015: 500 unités

31,5M$

A limited partnership fund

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