TD today launched the TD Ready Challenge, an annual North American initiative that has ten $1 million (CDN) grants available to help catalyze innovative solutions for a changing world.
The announcement follows the recent launch of The Ready Commitment, a multi-year program targeting CDN $1 billion (US $775 million) in total by 2030 towards community giving.
The TD Ready Challenge will address the four areas identified within The Ready Commitment as critical to building an inclusive future – Financial Security, a more Vibrant Planet, Connected Communities and Better Health. Each year, eligible organizations will be invited to submit proposals offering scalable solutions to a specific issue identified within The Ready Commitment.
Acting as a springboard for social innovation, the TD Ready Challenge will forge relationships, test new ideas and surface solutions to emerging problems. In its inaugural year, the TD Ready Challenge will focus on financial security, seeking innovative solutions to help increase income stability and prepare people for the skills they need for the economy of the future.
In a period of unprecedented change, the makeup of our workforce continues to shift. Technological acceleration and automation have given way to inconsistent work hours, multiple sources of income, self-employment, and the gig economy – all of which have the potential to increase income volatility.
"TD wants to help open doors for people so they can more confidently move forward in a rapidly changing world and be prepared to seize the opportunities that come with accelerated shifts in how we work and live," says Bharat Masrani, Group President and Chief Executive Officer, TD Bank Group. "The TD Ready Challenge will help encourage new ways of thinking towards solutions that help foster greater income stability. We look forward to helping people and communities prepare for the future by providing financial support to eligible organizations with innovative ideas."
TD will begin accepting grant applications for the 2018 TD Ready Challenge on June 4. Applications will be accepted until July 27 and judged in two rounds by a panel consisting of TD executives and external subject matter experts. Grant recipients for the first year of the TD Ready Challenge will be announced this fall.