Women-Led Impact investor Challenge Founder Cohort
Introducing the Top 5 Founders
Supported in part by funding from the National Research Council of Canada Industrial Research Assistance Program, BDC Thrive Lab and RSM Canada.
2024 Women-Led Top Founders
Women and non-binary founders often build companies that address overlooked sectors of the economy that create meaningful opportunities for change. Yet, they also face significant biases when raising funds, leaving them seriously lacking the capital to grow their companies and increase their impact. These companies significantly outperform their peers, which means opportunities to create value-infused financial returns are being missed. You can change that.
Meet our Top 5 Founders
Our finalists for this year’s 2024 Women-Led Impact Investor Challenge bring a dynamic mix of solutions for people and the planet. Get to know them here and then come join us at the 2024 Finale:
Aruna Revolution
Aruna is revolutionizing the way we manage our menstrual health with compostable menstrual products that are made out of natural fibers, our products are better for our bodies and the planet.
Founder: Rashmi Prakash
SDGs:
- 3: Good Health and Well-Being
- 4: Quality Education
- 5: Gender Equality
- 6: Clean Water and Sanitation
- 8: Decent Work and Economic Growth
- 10: Reduced Inequalities
- 12: Responsible Consumption and Production
Sector: Cleantech
Stage: Seed
Rashmi Prakash, CEO of Aruna Revolution, is a biomedical engineer with a passion for sustainability. She recognizes that there is a deep connection between environmental well-being and the health of humans. Rashmi has a wealth of experience in the medical sector and has brought several medical devices to the market. While doing so, she also saw the waste being generated but also the lack of accessibility to much of the population. Rashmi strives to start a revolution, where everyone has equitable access to healthcare, and is starting with a menstrual health revolution because she understands the impacts of a lack of access to menstrual products.
homeD Modular Building Technologies Corp.
At homeD Modular, their mission is to redefine the landscape of the housing industry by providing high-performance, sustainable living spaces that are accessible and affordable.
Founder: Michelle Tung
SDGs:
- 1: No Poverty
- 2: Zero Hunger
- 3: Good Health and Well-Being
- 5: Gender Equality
- 7: Affordable and Clean Energy
- 8: Decent Work and Economic Growth
- 9: Industry, Innovation, and Infrastructure
- 10: Reduced Inequalities
- 11: Sustainable Cities and Communities
- 12: Responsible Consumption and Production
- 13: Climate Action
- 16: Peace, Justice and Strong Institutions
- 17: Partnerships
Sector: Other
Stage: Seed
As a pioneering female-led company, they are deeply committed to solving the pressing challenges of affordability, sustainability, reduced carbon emissions, and labour shortages in the construction sector. Their innovative approach to housing is centred around modular construction techniques, which allow us to streamline the building process significantly. By prefabricating components in a controlled factory environment, they not only enhance quality and reduce waste but also expedite the construction timeline. This efficiency is further amplified by their commitment to using locally sourced materials, which lowers transportation costs and minimizes their carbon footprint.
homeD Modular‘s construction method is a game-changer in the industry, offering homes that boast exceptional energy efficiency and a reduced carbon footprint. This aligns with the increasing consumer and regulatory demands for sustainable building practices, positioning us as leaders in eco-friendly construction. Their homes are designed to be scalable and flexible, catering to a wide range of needs while ensuring durability and design excellence. A cornerstone of their innovation is the simplicity and efficiency of their construction method, which is accessible to individuals with limited or no carpentry skills. This unique aspect of their business model directly addresses the construction industry’s labour shortage issues by broadening the workforce pool and enabling faster project completions.
Scotiaderm Inc.
Scotiaderm Inc. is a physician-led company dedicated to solving Moisture Associated Skin Damage.
Founder: Dr. Ann Gordon
SDGs:
- 3: Good Health and Well-Being
- 5: Gender Equality
- 12: Responsible Consumption and Production
Sector: Health
Stage: Pre-Seed
Dermategrity is the brand name of their innovative, proprietary topicals that quickly and effectively prevent and treat MASD. Their mission is to affect the standard of care.
Vessl Prosthetics Inc.
Vessl is pioneering novel prosthetics for amputees, led by biomedical engineers, clinical anatomists, and prosthetists.
Founder: Sydney Robinson
SDGs:
- 3: Good Health and Well-Being
- 10: Reduced Inequalities
Sector: Health
Stage: Pre-Seed
The first product, isoform, is an automatically adjusting socket that empowers amputees through improved comfort.
Vitract
Vitract pairs gut microbiome technology with personalized nutrition to improve digestive health, metabolism, immunity, and mental wellness.
Founder: Linta Mustafa
SDGs:
- 3: Good Health and Well-Being
Sector: Health
Stage: Pre-Seed
Linta Mustafa, BHSc, combines her expertise in medical science with a background in finance to pioneer advancements in health technology. After excelling in finance and investment banking, she returned to her passion for science, co-founding a biotech company focusing on cellular aging.
Currently, as the founder of Vitract, she aims to prioritize scientific rigor while making gut microbiome testing more accessible, addressing gut dysbiosis in Canada.
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Women-Led IIC 2024 Finale
At our fully virtual Finale, we will showcase the transformative ideas and solutions of five exceptional women-led companies that have the opportunity to win a $100K+ investment. Whether you’re a seasoned investor or curious about learning more about the Top 5’s innovative solutions, the Finale will be an incredible opportunity to engage with a like-minded community to celebrate women founders.
Meet our Top 15 Founders
We had a powerful cohort of founders this year, featuring a diverse set of companies that are taking on critical issues. Keep an eye on them all – you’ll be glad you did:
AiimSense Inc.
AiimSense is a Canadian early-stage medical technology company dedicated to advancing point-of-care brain imaging solutions.
Founder: Atefeh (Ati) Zarabadi
SDGs:
- 3: Good Health and Well-Being
- 9: Industry, Innovation, and Infrastructure
Sector: Health
Stage: Seed
Their innovative approach focuses on developing portable scanners that enable real-time monitoring at the patient’s bedside, revolutionizing neurological diagnostics. With a commitment to affordability, safety, and ease of operation, AiimSense is poised to transform the landscape of medical imaging for improved patient care outcomes.
Apricotton
Apricotton is the only bra brand globally that designs bras that grow to last through multiple stages of puberty, helping the 90% of teen girls embarrassed to wear a bra.
Founder: Jessica Miao + Chloe Beaudoin
SDGs:
- 5: Gender Equality
Sector: Consumer
Stage: Pre-Seed
Jessica and Chloe started Apricotton after Jessica’s younger sister had a breakdown because none of the cup bras or training bras fit. Alongside their bras, they’ve built a community on TikTok with over 170K followers and 35M views, acting as girls’ virtual big sisters so no girl goes through puberty alone. They are personally committed to growing Apricotton and their community to ensure girls feel confident in their bodies.
Aruna Revolution
Aruna is revolutionizing the way we manage our menstrual health with compostable menstrual products that are made out of natural fibers, our products are better for our bodies and the planet.
Founder: Rashmi Prakash
SDGs:
- 3: Good Health and Well-Being
- 4: Quality Education
- 5: Gender Equality
- 6: Clean Water and Sanitation
- 8: Decent Work and Economic Growth
- 10: Reduced Inequalities
- 12: Responsible Consumption and Production
Sector: Cleantech
Stage: Seed
Rashmi Prakash, CEO of Aruna Revolution, is a biomedical engineer with a passion for sustainability. She recognizes that there is a deep connection between environmental well-being and the health of humans. Rashmi has a wealth of experience in the medical sector and has brought several medical devices to the market. While doing so, she also saw the waste being generated but also the lack of accessibility to much of the population. Rashmi strives to start a revolution, where everyone has equitable access to healthcare, and is starting with a menstrual health revolution because she understands the impacts of a lack of access to menstrual products.
BeBlended
BeBlended is a SaaS enabled marketplace that connects Black clients with freelance hairstylists who know how to work on afro-curly hair textures.
Founder: Aileen Agada
SDGs:
- 8: Decent Work and Economic Growth
- 10: Reduced Inequalities
Sector: Inclusive Communities
Stage: Pre-Seed
Hairstylists receive access to a tailored client base, hairstyling gigs, and a platform that manages all back-office business operations.
DOT Incorporation
The mission of DOT Incorporation is to revolutionize the diagnosis and treatment of mental health conditions, particularly in children, through innovative technology.
Founder: Yishel Khan
SDGs:
- 3: Good Health and Well-Being
- 4: Quality Education
- 9: Industry, Innovation, and Infrastructure
- 10: Reduced Inequalities
- 17: Partnerships
Sector: Health
Stage: Pre-Seed
DOT Incorporation is committed to improving the accuracy, speed, and accessibility of mental health care by leveraging EEG technology and AI algorithms. Their purpose is to provide an objective, non-invasive, and efficient alternative to traditional mental health diagnosis methods, which often rely on subjective assessments and can lead to delays in treatment. By offering precise diagnostic tools and therapeutic options, they aim to transform the lives of individuals with mental health conditions, enabling them to receive timely and effective care. Their ultimate goal is to alleviate the burden on healthcare systems and improve patient outcomes on a global scale.
homeD Modular Building Technologies Corp.
At homeD Modular, their mission is to redefine the landscape of the housing industry by providing high-performance, sustainable living spaces that are accessible and affordable.
Founder: Michelle Tung
SDGs:
- 1: No Poverty
- 2: Zero Hunger
- 3: Good Health and Well-Being
- 5: Gender Equality
- 7: Affordable and Clean Energy
- 8: Decent Work and Economic Growth
- 9: Industry, Innovation, and Infrastructure
- 10: Reduced Inequalities
- 11: Sustainable Cities and Communities
- 12: Responsible Consumption and Production
- 13: Climate Action
- 16: Peace, Justice and Strong Institutions
- 17: Partnerships
Sector: Other
Stage: Seed
As a pioneering female-led company, they are deeply committed to solving the pressing challenges of affordability, sustainability, reduced carbon emissions, and labour shortages in the construction sector. Their innovative approach to housing is centred around modular construction techniques, which allow us to streamline the building process significantly. By prefabricating components in a controlled factory environment, they not only enhance quality and reduce waste but also expedite the construction timeline. This efficiency is further amplified by their commitment to using locally sourced materials, which lowers transportation costs and minimizes their carbon footprint.
homeD Modular‘s construction method is a game-changer in the industry, offering homes that boast exceptional energy efficiency and a reduced carbon footprint. This aligns with the increasing consumer and regulatory demands for sustainable building practices, positioning us as leaders in eco-friendly construction. Their homes are designed to be scalable and flexible, catering to a wide range of needs while ensuring durability and design excellence. A cornerstone of their innovation is the simplicity and efficiency of their construction method, which is accessible to individuals with limited or no carpentry skills. This unique aspect of their business model directly addresses the construction industry’s labour shortage issues by broadening the workforce pool and enabling faster project completions.
Kula Foods Inc.
Sprouted in Vancouver in 2018, KULA represents the culmination of founder Asha Wheeldon’s diverse cultural experiences.
Founder: Asha Wheeldon
SDGs:
- 1: No Poverty
- 2: Zero Hunger
- 3: Good Health and Well-Being
- 4: Quality Education
- 8: Decent Work and Economic Growth
- 9: Industry, Innovation, and Infrastructure
- 10: Reduced Inequalities
- 11: Sustainable Cities and Communities
- 12: Responsible Consumption and Production
- 13: Climate Action
Sector: Consumer
Stage: Seed
Raised in Kenya, her journey led her through Toronto and to British Columbia. Upon relocating to Vancouver, Asha sought food, flavours, and spaces that resonated with her sense of home. Inspired by her East African family recipes, she aspired to share something distinctive—offering not only delicious nourishment but also creating spaces and narratives for inclusion, representation, and community connections through food. Thus, KULA Foods was born! Whether individuals are on dinner duty with KULA’s plant-based proteins or adding a flavorful touch to their sauces, the products are consistently 100% Vegan, Gluten-Free, and made with no added sugar.
MycoFutures
A champion of sustainability and innovation, MycoFutures is a Mississauga based startup transforming fungi into a next-generation leather alternative that is animal-free, plastic-free and non-toxic, making it safer for people and the planet.
Founder: Stephanie Lipp
SDGs:
- 9: Industry, Innovation, and Infrastructure
- 12: Responsible Consumption and Production
- 13: Climate Action
Sector: Circular Economy
Stage: Pre-Seed
MycoFutures is part of the current cohort of MaRS Women in Cleantech accelerator, alumni of Creative Destruction Lab and MassChallenge Switzerland and was a finalist in the 2023 Startup Canada Global Pitch Competition. MycoFutures’ circular solution is poised to revolutionize the fashion industry while proving that style doesn’t have to come at a cost to the environment.
Pain Coach Inc.
Pain Coach Inc. is looking to change the way opioids are prescribed after hip and knee replacement surgery.
Founder: Emily Johnston
SDGs:
- 3: Good Health and Well-Being
- 10: Reduced Inequalities
- 16: Peace, Justice and Strong Institutions
Sector: Health
Stage: Pre-Seed
Research shows patients struggle with their post-operative medication regimes and have valid concerns about the use of opioids which can affect their outcomes after surgery. A growing body of research has also identified various patient-specific risk factors for prolonged opioid use after surgery. Adding to this need for better support for patients is the fact that health systems globally are working to do more of these procedures as outpatients to reduce hospital burden, leaving more patients to navigate their immediate postoperative pain themselves. Their vision is to leverage technology to better inform patients on postoperative pain management and put them truly at the centre of their care. They plan to build software that can over time, better understand opioid use by patients and give them a way to advocate for their pain management plans. They are building software that executes personalized pain management plans for knee and hip arthroplasty patients and their surgeons. It allows patients and surgeons to collaborate before surgery to suggest prescriptions that take a patient’s patient-specific factors and preferences into account, giving surgeons better information at the time of prescribing. It also helps patients manage their pain after surgery by offering a variety of functions including pain assessment reminders, medication compliance reminders, pain/medication tracking, opioid weaning plans, nonpharmacologic methods of pain control and troubleshooting features.
Savyn
Savyn is a digital PTSD therapy platform using neuroscience to improve PTSD symptoms, distress, anxiety, and depression.
Founder: Sakeena Mihar
SDGs:
- 3: Good Health and Well-Being
- 10: Reduced Inequalities
Sector: Health
Stage: Pre-Seed
Their goal is to provide access to care in vulnerable communities like refugees, shelter inhabitants and clinical settings, where wait times are long, specialists are limited, and care can be expensive.
Scotiaderm Inc.
Scotiaderm Inc. is a physician-led company dedicated to solving Moisture Associated Skin Damage.
Founder: Dr. Ann Gordon
SDGs:
- 3: Good Health and Well-Being
- 5: Gender Equality
- 12: Responsible Consumption and Production
Sector: Health
Stage: Pre-Seed
Dermategrity is the brand name of their innovative, proprietary topicals that quickly and effectively prevent and treat MASD. Their mission is to affect the standard of care.
Untangle Money
Untangle Money gives women confidence about their money, by helping them make financial decisions, based on what they can afford, while ensuring they will be financially ok in the future.
Founder: Kristine Beese
SDGs:
- 5: Gender Equality
Sector: Health
Stage: Pre-Seed
They’re doing it at scale so that we can reach one million Canadian women in the next 3 years; so that women have more control over their futures and women have the financial capital to shape the world we live in today; so that we can have more women living above the poverty line as they enter the last 5-10 years of their lives.
Untangle Money works with Canadian woman and couples, who like things explained with pictures, and who want independent, research-based, insights, education and guidance on their money. They use a trauma-informed approach to money, and we are a safe and welcoming space.
Vessl Prosthetics Inc.
Vessl is pioneering novel prosthetics for amputees, led by biomedical engineers, clinical anatomists, and prosthetists.
Founder: Sydney Robinson
SDGs:
- 3: Good Health and Well-Being
- 10: Reduced Inequalities
Sector: Health
Stage: Pre-Seed
The first product, isoform, is an automatically adjusting socket that empowers amputees through improved comfort.
Vitract
Vitract pairs gut microbiome technology with personalized nutrition to improve digestive health, metabolism, immunity, and mental wellness.
Founder: Linta Mustafa
SDGs:
- 3: Good Health and Well-Being
Sector: Health
Stage: Pre-Seed
Linta Mustafa, BHSc, combines her expertise in medical science with a background in finance to pioneer advancements in health technology. After excelling in finance and investment banking, she returned to her passion for science, co-founding a biotech company focusing on cellular aging.
Currently, as the founder of Vitract, she aims to prioritize scientific rigor while making gut microbiome testing more accessible, addressing gut dysbiosis in Canada.
Vope Medical
Vope specializes in AI-enhanced surgical visualization solutions.
Founder: Amy Lorincz
SDGs:
- 3: Good Health and Well-Being
Sector: Health
Stage: Pre-Seed
Their cutting-edge software addresses a significant unmet need in endoscopic surgery, where 37% of total surgical time is compromised by obscured views due to blood or fog on the endoscopic camera lens. Existing cleaning methods contribute to clinician anxiety, heightened errors, and operational inefficiencies. Through advanced image enhancement, they decrease cleaning incidents, offering a seamless and disruption-minimized experience.
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