New program launched to accelerate angel investments into BC climate tech startups
The program is funded by Innovate BC and delivered in partnership with Spring Activator, Volition and Foresight Canada.
The Vancouver Economic Commission (VEC) has launched Angels for Climate Solutions, a program aiming to increase the flow of capital investment into BC-based, early-stage climate technology startups.
“Angels for Climate Solutions is a result of the strategic imperative to ensure our innovation ecosystem has the support necessary to apply its ingenuity and agility to the climate emergency,” said new VEC CEO Eleena Marley. “Technology-based solutions will form the backbone of climate action in many cities around the world—especially so in Vancouver, given our city’s climate-oriented character and robust tech industry.”
The program, funded by Innovate BC and delivered in partnership with Spring Activator, Volition and Foresight Canada, undertakes a cohort-based approach to education and training with two intersecting streams, one geared towards angel investors looking to make early-stage investments into climate technologies and one designed for climate-focused startups looking to fundraise.
Applications for both cohorts close on October 27. The education and training are interspersed with a series of pitch events, which culminate in the angel cohort awarding one startup investment of up to $100,000.
“Collaboration with our partners within the tech ecosystem is so critical to driving progress with innovation and economic development in BC. Innovate BC is proud to support Vancouver Economic Commission and their industry delivery partners on Angels for Climate Solution to catalyze the growth of our cleantech services ecosystem,” said Raghwa Gopal, president and CEO of Innovate BC.
Facilitating early-stage investment in climate solutions is essential to progress the innovation required to meet necessary climate goals. This is particularly critical during the “Decade of Action” outlined by the United Nations, which urges accelerated efforts to meet Sustainable Development Goals (SDGs) by 2030.
“Moreover, the success of our early-stage startups and angel investors alike plays a significant part in future-proofing Vancouver and ensuring a strong, stable and inclusive economy,” added Marley.
“While effective climate solutions are a result of the founders and the innovations they develop, it is also reliant on the capital that supports them in their critical early stages of growth," said Keith Ippel, CEO of Spring Activator. "For BC-based climate solutions to grow, thrive, and become global players in addressing climate solutions, we need to develop a vibrant early-stage investor community that is equipped and empowered to make informed investments for both financial and environmental returns."
By connecting angel investors with startups seeking funds to scale their climate-oriented solutions, Angels for Climate Solutions helps address the urgency of the Decade of Action while leveraging the market opportunity it presents.
For more information, visit vancouvereconomic.com/climate-angels.