Spring Activator has partnered with the Telus Pollinator Fund for Good for its 2022 Investor Challenge.
This iteration of the challenge will be Spring Activator’s first ever health-focused challenge. Spring Activator is aiming to accelerate early-stage healthcare solutions and stimulate impact investing in inclusive healthcare innovation. The winning venture has the potential to win up to $100,000.
“Our hopes are that the challenge will provide a stepping stone towards funding innovative businesses as key contributors to the local economy,” Graham Day said, the impact investing program director at Spring Activator.
“We are excited to support Spring Activator for its first-ever Health Impact Investor Challenge which will assist entrepreneurs and new businesses to truly be investment-ready so they may grow and flourish as the next generation of healthcare leaders across Canada,” said Blair Miller, the managing partner of the $100 million Telus Pollinator Fund for Good.
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The challenge is set to run from March to May of 2022. It is accepting applicants from all across Canada that are considered early-stage socially or environmentally driven ventures in the healthcare industry, which are looking to raise capital and scale impact.
The challenge will first be narrowed down to what are deemed the top 20 venture applicants. From there, the companies will attend orientation and pitch their companies to an investor cohort at pitch night. The competition will then be cut in half as ten semi-finalists will be chosen.
These semi-finalists will pitch a second time resulting in the top five heading to the grand finale pitch event where they have the chance to win the investment prize.
Spring Activator is also looking for investors to take part in the prize pool. The exact amount will vary depending on the size of the investor group. In previous challenges, the amount has always slightly exceeded $100,000.
Applications to participate in the challenge close January 28, 2022.