Are you building a venture with purpose and a bold, scalable solution? The Impact Investment Prize is a $100k investment for Canadian founders creating real impact for people, communities, and/or the planet. If you’re currently raising equity investment, apply now.
Spring seeks to change the world through innovation. We do this by connecting and educating founders and investors to create a sustainable, healthy & equitable world. In pursuit of this mission, we have supported over 3000 alumni across Canada and the globe, catalysing $83M of impact investment.
CIVIC’s mission is to catalyze more investment in impact startups in Canada, for more (and better) outcomes. We achieve this goal by organizing events (just like ImpactFest) as well as formal and informal training for impact investors and impact entrepreneurs.
Eligibility Criteria
Canadian impact ventures. For us, an impact company is a for-profit venture that’s creating meaningful, measurable positive change for people and/or the planet. Your company must be working toward solving a social or environmental issue and contributing to one or more of the UN Sustainable Development Goals. This can include human health, planetary health, education, food security, reduced inequality and more.
The prize is open to all impact ventures, but we’ll prioritize those led by entrepreneurs from equity-deserving groups with bold, scalable solutions.
Application is required and our shortlisted top ventures must be available to engage in due diligence conversations with investors in the lead up to Startupfest and to pitch in person at the event.
The Process
This award is brought to you by CIVIC and Spring. In addition to the prize itself, we will spread the word about our finalists, with the prize winner being announced July 11th at Startupfest in Montreal with the top ventures in attendance. All finalists will present their company publicly to an industry panel and receive warm introductions to investors in our communities.
- Impact ventures must apply via this form. Spring and CIVIC will review all applications and create a longlist of ventures. Longlisted companies will be asked for additional information to support a due diligence process, including but not limited to a data room.
- Thursday July 10th shortlisted startups will be invited to a pitch and invite only session with select prize mentors and finalists from all prize categories.
- On July 11th, shortlisted finalists will pitch their companies on the main stage to the audience, followed by a Q&A with a panel of impact investors & ecosystem experts.
- The winner of the $100k Impact Investment Prize will be selected by Impact Angel Investors and announced at the Startupfest closing ceremony.
Prize Details
The Impact Investment Prize is a minimum investment of $100k from up to 25 angel investors, pending final due diligence and terms negotiation. If you have terms - great! These will be discussed with the prize investors during due diligence and they can join on those terms or may suggest alternative terms. Investors may also be willing to help you set terms to be the first cheque(s) into the round. You are welcome to raise on a priced round, a Convertible Note, or SAFE - here’s an industry-standard SAFE agreement for reference.
The winning startup will sign the deal paperwork with each of the investors individually. If your round is a SAFE or a Convertible Note, the prize investors are willing to create a voting trust, if and when the agreement converts to equity.
This will all be discussed during the due diligence process and we have coaching, mentorship and legal support for all finalists.
Startupfest does not guarantee that an investment prize will be awarded. All investment decisions and agreements are made solely at the discretion of the participating investors and the selected startup.That said, we’re proud to share that over 95% of the approximately 30 Startupfest investment prizes awarded over the past 15 years have successfully closed.