The Challenge culminated in UVX Inc. receiving $300,000 in capital investment from the graduating cohort of 35 newly trained impact investors
On June 8, UVX Inc. was selected as the winner of Spring Activator’s 2022 Health Impact Investor Challenge, presented by the TELUS Pollinator Fund.
UVX focuses on disinfecting occupied spaces over six times more effectively without disrupting operations. The $300,000 in capital will enable UVX to run pilots and create case studies, get certified by regulatory bodies, and scale up their manufacturing capability. This will also allow the team to increase and deliver on sales of the product while generating a significant impact for getting into the market to support customers, patients, and healthcare staff.
"We are delighted to see UVX as the winner of the Health Impact Investor Challenge. With technology that disinfects indoor air it has the potential to provide protection for people everywhere, especially those with high-risk medical conditions. That's a scalable impact that can truly make a difference in healthcare.”
UVX has built the world’s first intelligent ceiling device that is six times more effective than chemical disinfection and seven times more effective than air purifiers with HEPA filters. UVX 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.
"I hope every entrepreneur gets the opportunity to go through a program like this. Working with investors with a wide range of expertise in healthcare, ranging from medical doctors to decision-makers in some of Canada’s largest healthcare institutions, offered us a perspective we wouldn’t have received anywhere else. It’s amazing to think that this time last year we had nothing more than a duct-taped prototype, and now we’re gearing up for commercialization. Winning this challenge has put us one step closer to that goal.”
More than 81 healthcare purpose-driven ventures from across Canada applied for the challenge, with 20 companies from a variety of health-focused sectors selected to pitch their business to 35 early-stage impact investors. Throughout the challenge, these new investors explored the basics of impact investing, grew their investment networks, and collectively chose the top healthcare company for investment.
About the Impact Investor Challenge
The Impact Investor Challenge is a two-month program that Spring Activator runs to grow the impact investor community, guide early-stage and impact-curious investors into impact investing, empower and fund impact entrepreneurs while helping to change the world through purpose-driven innovation. Since the launch of the Challenge in 2019, Spring has trained 160+ impact investors. This has resulted in over $780,000 awarded in direct investments, and the catalyzation of additional impact investments made, surmounting $15M.
"The Health Impact Investor Challenge has been an incredible opportunity to work alongside Spring, up and coming angel investors, and these new Canadian healthcare ventures - all of which are driving social innovation and creating innovative solutions to better our communities. We believe in profit with a purpose and are delighted to see the opportunities the challenge has given for businesses to grow and scale their businesses to support better and more equitable access to healthcare.”
What's next?
After the positive turnout and experience with the Health Impact Investor Challenge, Spring Activator alongside the TELUS Pollinator Fund will continue making an impact this fall with a Women-Led Impact Investor Challenge, a program that aims to support the work of women founders and investors who are making a difference in the entrepreneurial ecosystem.
The challenge will run from September to December 2022 culminating in an investment of over $100,000 into a statistically under-funded market. Investors and entrepreneurs learn hand in hand as they go through the investment process and take action backed by a supportive community. Women entrepreneurs and aspiring or experienced investors of any identity are encouraged to reach out to the Spring team for more information.
