Spring & Propel Impact Unite to Fast-Track the Impact Economy
Impact businesses and organizations will now have greater access to resources and support to maximize results.
VANCOUVER, B.C., September 24, 2024 — People increasingly seek value and purpose in their work. When they can’t find it in an employer, they often chart their own path but need help finding their way. To help the people and businesses that want to be a force for good, Spring and Propel Impact, two national, Vancouver-based organizations committed to building a sustainable future, have joined forces to accelerate access to knowledge, connections, opportunities, and resources to thrive in an impact economy.
“The future of business is impact,” says Keith Ippel, Co-CEO, Spring. “From climate change to the rise of purpose generations Y and Z, organizations have a unique opportunity to respond to the world’s greatest challenges. Working together, Propel and Spring can go further, faster. Delivering greater support, more efficiently, to more impact organizations and investors to scale their work and accelerate the path to a sustainable, healthy, and equitable world.”
Spring is a global community of innovators and investors that delivers impact through Spring Activator, a founder & investor accelerator, Spring Collective, an impact angel investor network, and Spring Impact Capital, a venture capital fund. They have served 3,300 entrepreneurs, and 1,100 investors, catalyzing over $51M CAD in capital.
Propel Impact guides young Canadian leaders to explore impact career pathways via real-life investment experience, consulting engagements, and internships. They have trained over 450 youth, supported 230 impact organizations with projects, and invested $749,000 into 15 impact ventures that have raised $90M CAD in follow-on funding.
“Since launching Propel Impact five years ago, we’ve cultivated a diverse community of talent, fiercely committed to using their skills and careers to address our world’s greatest challenges,” says Executive Director, Cheralyn Chok. “Moving forward, we’re excited about the potential this integration unlocks for young leaders and impact organizations alike.”
The global impact investing market was valued at $2.5 trillion in 2021 and is projected to reach $6 trillion by 2031. Together, Spring and Propel will contribute to this trajectory, expanding and strengthening their collective reach across Canada and beyond. Over the next fiscal year, Spring aims to catalyze $110M CAD of capital, and serve more than 560 entrepreneurs and 600 investors. Now, powered by Spring, Propel will continue to deliver the experiential learning programs they are known for, with additional resources, capacity, and mentorship to scale significantly including training a further 300 young professionals, supporting 50 more impact organizations, and investing in five new ventures in the next year.
Founders, future leaders, and entrepreneurs interested in expanding their skills or network in the impact sector can find resources on both Spring and Propel Impact’s websites. They can also apply for some of the current programs including Invest Together in Climate Innovation, Essentials in Startup Investment, Raise + Rise Connection Series, or apply in February for Propel’s 2025/2026 Programming.
“Propel’s programs have been instrumental in cultivating my journey into impact investing and in launching the careers of so many other youth,” added Propel alum, Skye Noh, on her learning journey through Propel. ”Their experiential approach has not only provided the necessary knowledge for the modern workplace but has also fostered a sense of community and shared purpose among like-minded individuals. Seeing Propel and Spring come together makes me confident that this collaboration will further accelerate the engagement of a new generation in the growing impact investing space.”
About Spring
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.
Our mission is to create a world where every business is an impact business & every investor is an impact investor. To achieve this, we are dedicated to providing equitable access to capital for all. We recognize the systemic underfunding of underrepresented founders and prioritize their ventures in our programming as well as prioritizing education for underrepresented investors. Learn more at spring.is.
About Propel Impact
Propel Impact is a national nonprofit creating a Canada where every organization has the talent and resources needed to be truly impact-first. They connect hundreds of youth ages 18-30 to meaningful careers in social innovation & impact investing through skills training, experiential learning, and tailored mentorship. They also offer catalytic investment capital & technical assistance to social enterprises and nonprofits often overlooked by traditional investors and accelerators. Learn more at propelimpact.com.
Media Contact
Tara Wood, Purpose PR, 416-301-5724, tara@purposecommunications.ca