VANCOUVER, British Columbia--(BUSINESS WIRE)--Today, Spring, a leader in Canada’s early stage impact investing ecosystem, announces the winners of two consecutive Impact Investor Challenges. Tenzr, a Vancouver-based health-tech company focused on gamifying occupational therapy will receive at least $70k investment as the winner of the NIMBUS Synergies Impact Investor Challenge while Lite-1, a women-owned biotech company that is creating eco-friendly colours derived from naturally occurring microbes will receive at least $200k as the winner of the TELUS Pollinator Women Led Impact Investor Challenge. The challenge winners will utilise the funds to accelerate their business strategy. The investment is made up of funds from individual investors from Spring’s national investor ecosystem.
"We are honoured to have won the Nimbus Synergies Health Impact Investor Challenge. It was a privilege to have competed with the other amazing companies making a remarkable positive impact in their respective domains. In addition to the investment and publicity, this win serves as an important validation of our clinical impact,” comments Tenzr Health Founders Lukas-Karim Merhi and Gautam Sadarangani. “We look forward to working with the impact investor cohort to continue to grow Tenzr Health."
Spring’s impact investor challenge consists of a joint cohort of individual investors and purpose-driven founders coming together to navigate all aspects of the investment process. The program supports founders through a rapid process of preparing and presenting investors with a robust fundraising package. Investors are guided through a 6-8 week due diligence process designed to deepen their understanding of the risks and opportunities that early-stage investors need to succeed. The program also features unique content that aims to educate both founders and investors on key areas of purpose-driven venture building including market analysis, impact measurement, negotiation and financial performance. The impact investor challenge culminates in a program finale that pools the cohort’s investment into an investment into the winning companies.
The program leverages a collaborative model to bring some of the leading institutions in Canada together to support impact ventures and build capacity for impact investors to participate in high-potential opportunities. The BC Health Impact Investor Challenge is delivered in partnership with Nymbus Synergies, while TELUS’ Pollinator Fund serves as the lead partner on the Women Led Impact Investor Challenge. Lite-1, the winner of the Women Led challenge will also receive investment from BDC’s Thrive Venture Lab as part of its co-investment partnership with Spring.
"Being at the forefront of change requires bold, ambitious moves. At BDC’s Thrive Lab, we know it’s possible to build a thriving business with the potential to scale and drive transformational societal change,” comments Sévrine Labelle, Managing Director, BDC’s Thrive Lab. “By co-investing with like minded partners, we can work more efficiently to get critical funding into the hands of inspirational women at the speed of their business. That’s why we’re proud to partner with Spring and to announce our matching investment in Lite-1.”
The announcement comes at a time when ESG investing is experiencing a backslide. According to Bloomberg, the global ESG market is in a decline, shrinking from $35 trillion (2020) to $30 trillion (2022)1.
“Bridging the gap between purpose-driven founders and values-aligned investors is one of the biggest challenges of the startup ecosystem,” comments Marlon Thompson, Chief Experience Officer, Spring. “Through the IIC, Spring has developed a strong, repeatable framework for doing exactly that. The trajectory for past IIC participants - winners and participants alike - demonstrates a clear need for programs like these to exist.”
For more information, please visit: https://spring.is/
About Spring
Spring is a global community of innovators and investors, connected to create a sustainable, healthy and equitable world. They design and deliver programs and experiences to build an inclusive community of investors and support a diverse range of founders to scale their impactful solutions. In 2022 Spring launched Spring Investing Collective, Canada’s Impact Investing Network, and in 2023 launched Spring Impact Capital. Nationally and globally, Spring unites founders and investors with the tools, knowledge and community to scale impact together for a better future. In September 2023, Spring acquired Future Capital to create an inclusive investment ecosystem across Canada.
For more information, please visit: https://spring.is/
