Spring has announced the winners of two consecutive Impact Investor Challenges and they are both Vancouver startups.
Healthtech startup Tenzr will receive an investment of at least $70k as the winner of the NIMBUS Synergies Impact Investor Challenge.
Tenzr combines intelligent wearable sensors, gamification, and healthcare expertise to provide clinicians and patients with motivation, guidance, and certainty for musculoskeletal wellness and recovery.
Biotech startup Lite-1 will receive at least $200k as the winner of the TELUS Pollinator Women Led Impact Investor Challenge.
Lite-1 partners with nature to manufacture the building blocks of tomorrow’s clean high-performance colour. Their fundamental goal is to transform the dye industry from one of the most polluting industries to a clean, healthy industry.
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.
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 impact investor challenge culminates in a program finale that pools the cohort’s investment into an investment into the winning companies.