Summer 2023 marks the launch of the Discovery Foundation’s RISE Resilience: Health Innovation Investment Readiness Program and Nimbus Synergies Health Impact Investor Challenge to support BC health innovation startups with raising capital.
One of the key drivers of the success of the health innovation industry in Canada is the country’s strong research and development infrastructure. Canada boasts world-class research institutions and universities, which provide a fertile ground for innovation and collaboration. However despite this, many impact-focused healthcare startups lack the much needed support to catapult their startups to the next level of growth. This is where the combined programs, the Discovery Foundation’s RISE Resilience: Health Innovation Investment Readiness Program (IRP) and the Nimbus Synergies Health Impact Investor Challenge (IIC) have joined forces with an aligned focus on resolving this critical issue. Both programs are supported by Innovate BC.
Canada’s health innovation industry is leading the way in developing innovative solutions to improve healthcare outcomes, however, to ensure the success of these impact-focused healthcare startups, Spring Activator has teamed up with the Discovery Foundation, Innovate BC and Nimbus Synergies Inc to launch a program that strengthens the health innovation ecosystem in BC. The program consists of 2 phases starting in June 2023:
- Phase 1: the Discovery Foundation’s RISE Resilience: Health Innovation Investment Readiness Program (IRP), a custom curriculum that delivers support, tools and resources to prepare health innovation startups to pitch and raise venture funds.
- Phase 2: The Nimbus Synergies Health Impact Investor challenge (IIC), which provides increased investment knowledge and connects entrepreneurs to Angel Investors to deploy across the country, along with a rent free office space at the Discovery Parks & Nimbus Synergies’ incubator known as the ‘Generator’ that provide early-stage technology companies space, mentorship, and community.
Last spring, the 2022 Health Impact Investor Challenge trained 33 angel investors, 15 healthcare startups, and culminated in $300,000 invested into UXV Inc., a device company that disinfects air and surfaces using a form of light that is safe for human exposure but kills pathogens in seconds, even while people are present. Other participating startups went on to raise $5+ million within six months of the program, with one healthcare finalist winning nearly $300,000 through the subsequent Spring Activator Women-led Impact Investor Challenge.
“Spring Activator is thrilled to collaborate with Discovery Foundation, Innovate BC and Nimbus Synergies Inc to support the growing health innovation ecosystem in BC .Through collaborating with regional partners and empowering investors with a diversity of knowledge and networks in the sector, this program will be a unique opportunity for BC healthcare startups to not only access investment, but also tap into support and connection resources to scale their growth and impact.”
- Preparing health innovation startups on investment-readiness. Provide foundational investment education and insights that will prepare startups to engage and close financing with prospective investors and donors.
- Guiding early-stage and impact-curious investors end-to-end through the impact investing process with the added benefit of deeper insights into the healthcare industry.
- Educating a joint cohort of funders and startups about the investment process, from market analysis, to impact measurement, to negotiation and closing, all culminating in an equity investment into a winning company.
“We are excited to partner with Spring Activator to provide the Health Investment Readiness Program to prepare entrepreneurs in exciting, impact-focused, healthcare startups to attract capital to help grow and scale their businesses. Improving healthcare outcomes for British Columbians is important for all, and this coordinated program will also encourage and facilitate investment in innovative solutions that are more inclusive, accessible and affordable.”
“We are thrilled to partner with Spring Activator, the Discovery Foundation, and Innovate BC to launch the Health Investment Readiness Program and Health Impact Investor Challenge. By providing education, resources, and connections to purpose-driven startups, we can help accelerate their growth and impact in the healthcare industry, ultimately improving health outcomes for Canadians.”
To apply as a company for the Discovery Foundation’s RISE Resilience: Health Innovation Investment Readiness Program please visit the website.
To apply as an investor for the Nimbus Synergies Health Impact Investor Challenge, please visit the website.
About Spring Activator
A certified B Corporation®, Spring Activator is a global incubator, accelerator, and advisory firm that empowers entrepreneurs, investors, and entrepreneurial ecosystem builders to change the world through innovation. With its advisory services, it has helped over 70 different incubators, accelerators, foundations, and governments across 5 continents enhance their capacity to maximize impact both in their local communities and globally. Through its impact programs, Spring has helped more than 2100+ entrepreneurs and raised over $30M in funding. Provided training support for over 170+ impact Investors. More information available at www.spring.is.
About Discovery Foundation
The Discovery Foundation facilitates innovation in BC by supporting the development and sustainability of the science and technology sector, with a focus on equity, diversity, and inclusion. To learn more about the Discovery Foundation and for partnering information, please visit: https://www.discoveryfoundation.ca/.
About Nimbus Synergies Inc
Nimbus Synergies leads early-stage financings in innovative and complementary health technology startups. By bringing these startups together to share resources, industry specific knowledge, and relationships, Nimbus is accelerating their growth and increasing their likelihood of success. Nimbus is significantly impacting the burgeoning yet underserved digital health and health technology sectors through its leadership as investor, partner, and mentor. To learn more about the Nimbus Synergies Inc, please visit :https://www.nimbusinc.vc .
About Innovate BC
Innovate BC helps foster innovation in B.C. so that British Columbians in all regions of the province can benefit from a thriving, sustainable, and inclusive innovation economy. A Crown Agency of British Columbia, Innovate BC funds and delivers programs that support the growth of the B.C. economy by helping companies start and scale, train talent that meets labour market needs, and encourage technology development, commercialization, and adoption. To learn more about Innovate BC, please visit: https://www.innovatebc.ca/ .
For media inquiries please contact:
Tra My Pham, Investment Program Manager, Spring Activator | tramy@spring.is
Christina Schroder, Manager of Logistics and Communication | info@discoveryfoundation.ca
Ari Gupta, Office & Community Manager | arushi@nimbusinc.vc
Michael Gleboff, Communications & Community Manager | mgleboff@innovatebc.ca
