< PreviousFEB 2023 • ISSUE 04 1112 MAKE THE WORLD BETTER MAGAZINETell us about your organization's mission. Spring Activator was founded in 2014 with a simple but bold mission: to accelerate and amplify the activities of purpose-driven leaders to create an equitable and resilient world that is regenerative by design. We envision a world in which every business is an impact busi- ness, every investor is an impact investor, and where entrepreneur- ship and investment ecosystems drive regenerative innovation. We act globally, leveraging our know-how to provide the tools, knowledge, network, and mentor- ship needed to change the world. What inspired you to start your organization? Spring was launched to give impact founders and companies access to the tools, training, resources, and capital that was previously only available to tech companies. In parallel, Spring wanted to give tech entrepreneurs and angel investors a way to share their voice in impact. What were some of the challenges you encountered? Early on it was apparent that convincing entrepreneurs, inves- tors, and partners that companies could launch, grow, and create lasting positive impact and make money was actually possible. We needed to work hard to convince people that impact entrepreneurs were out there, that they had great ideas to solve big problems, and that they could create momentum, success, and impact. What do you consider your organization's biggest success? In almost nine years, Spring has worked in over 50 communities worldwide, supporting 2,100+ founders and 200+ investors, who have raised more than $30 million. We are helping entrepreneurs and investors create impact at scale. What makes your organization unique? Our holistic and collaborative ap- proach to creating change. Spring partners with foundations, incu- bators, accelerators, governments, and donors to create, launch, and grow thriving innovation and entrepreneurial communities. Authentic change within a system is complex, involving nu- merous stakeholders and interest groups. We see ourselves as a con- duit between governmental insti- tutions, who are primarily respon- sible for implementing top-down SPRING ACTIVATOR SPRINGBOARDING IMPACT THROUGH VALUES ALIGNED CAPITAL Money and impact can be the best of friends. Recognizing that generating a profit and doing good can actually live in harmony is an important step toward creating a better world where businesses are profitable, regenerative, and equitable. Spring Activator launched in order to provide impact-driven founders with the guidance, tools, and community they need to build and grow their businesses. We spoke with Keith Ippel, Co-Founder & Co-CEO, and Caroline von Hirschberg, Co-CEO, about how this values-driven organization has evolved and grown to support entrepreneurs, investors, and ecosystems around the world to make impact entrepreneurship mainstream. Spring Activator team members at Vancouver Investor Social FEB 2023 • ISSUE 04 13approaches to change, and the impact business and investment community, who are attempting to create positive change from the bottom-up through their products, services, processes, and capital. Our mission of making impact entrepreneurship mainstream is in line with the B Corporation mandate of redefi ning successful businesses and inspiring organizations to not only be the best in, but for the world. In September 2017, we be- came a Certifi ed B Corporation. Th ere are over 4,000 Certifi ed B Corporations from more than 150 industries in 70+ countries. Spring was also certifi ed by the non-profi t B Lab to meet rigorous standards of social and environmental performance, accountability, and transpar- ency. We’ve evaluated how our practices impact our employees, our community, the environ- ment, and our customers. How do you feel your organization makes the world better? We are committed to helping entrepreneurs make a posi- tive social and environmental impact through our programs, global community, and by un- locking access to values-aligned capital. We do this through creating positive social impact by helping to enable and sup- port immigrant entrepreneurs as they grow their businesses in Canada, increasing access to capital for impact ventures and encouraging investors of all experience levels to approach venture capital (VC) through an impact lens, and ensuring that early stage impact entrepreneurs are supported and align their growth with impact. How can capital be used as a force for positive change? Capital can be used to invest in companies that are focused on delivering products, services, and/or technology that make the world a better place for people and the planet. Investing capital into companies dedicat- ed to climate solutions, health- care, education, the circular economy, sustainable food and agriculture, and sustainable retail and supply chain initia- tives will help these companies accelerate their growth, success, and impact. We can also use capital to support thematic approaches to positive changes, such as investing in businesses that are led by or serve underrepresented communities including wom- en, BIPOC, rural and remote communities, and persons with disabilities. As a result of this, the Spring community Some of our initiatives include Spring’s Impact Startup Visa Accelerator Program which supports cohorts of entrepreneurs from around the world to move to Canada apply for Permanent Residence status and build their ven- ture in Canada through the Canadian Startup Visa immigration pathway Our Impact Investor Challenge This program is a comprehensive -week program with an investor track for individuals interested in impact investing and an entrepreneur track for early-stage fundraising startups seeking investment The program introduces investors and impact-curious individuals to impact entrepreneurs who are seeking funding for their impact-driven initiatives To date over has been awarded in impact investments to Challenge winners and more than million has been catalyzed to participants as a result of the program Our Discovery Foundation Business Activate Program which is designed to offer early stage im- pact entrepreneurs the tools and resources they need to gain confi dence in activating growth Through this program participants receive access to resources and expertise around funding talent digital marketing and other key interest areas The program includes monthly webinars video tutorials actionable work- sheets themed monthly sprints and support calls Thanks to our sponsors this program is offered at a low cost or for free thus increasing access for early stage entrepreneurs looking to build out their skills Additionally as members of for the Planet we give one percent of our gross revenue and provide in-kind consultations to environmental not-for-profi ts We also work towards meeting the UN Sustainable Development Goals SDGs primarily through SDG Quality Education SDG Decent Work and Economic Growth and SDG Reduced Inequalities 14 MAKE THE WORLD BETTER MAGAZINErepresents women and BIPOC-led businesses, with of the winners of our Impact Investor Challenges being women. By investing in these businesses, capital can move the dial on equitable access to funding and nance, leadership roles, jobs, and products and services. In short, by using capital to invest in companies that actively make the world a better place, either in what they do or how they do it, capital becomes a massive force for positive change. Tell us about your organization's goals. Spring acts globally as a collabora- tive partner to guide and empower changemakers with high-impact knowledge, tools, and a network to help them thrive. Our services span training programs, capacity-building, mentorship, advisory services, and more. No matter where you are on your impact journey – from im- pact-curious to impact-committed – we invite you to become a part of the Spring Community. Are there any upcoming initiatives or projects you'd like to share? e Women-led Impact Investor Challenge, presented by the TELUS Pollinator Fund for Good, is our most recent Impact Investor Challenge cohort. is challenge focuses on stimu- lating impact investing in women-led impact businesses by facilitating connections between those looking for purpose-based investments with women founders working on solutions to local and global problems. e goal is to promote gender diversity in the impact investor and startup ecosystem. e competition includes a cohort of aspiring and serial impact investors and a group of women founders seeking funding. After a series of pitches, the cohort of investors puts forward a , + investment to the winning women-led company. In , Spring will be collabo- rating with Foresight Canada, Cycle Canada, and HSBC Foundation to run the inaugural Quebec Cleantech Investor Challenge. We are also excited about the launch of the Spring Investing Collective – an organic extension of the Impact Investor Challenge. is collective will bring together impact investors and high-growth entrepre- neurs seeking funding to facilitate deal ow, connections, and foster impact-driven innovation. is com- munity-centric approach to capital is something we see as missing in the world of VC. On the entrepreneur side, the Impact Startup Visa Program (ISV) remains one of our largest programs. ISV combines a traditional startup program with processes and support to help entrepreneurs solidify their business in Canada. e ISV Program operates under the banner of Canada's Start-Up Visa – a Canadian immigra- tion channel. What do you most want people to know about your organization? Spring exists to change the world through innovation, and we love to roll up our sleeves and get to work with investors and entrepreneurs to make that happen. How can people help or contribute to your organization's mission? Become an impact investor! Become a partner! We run programs like the Impact Investor Challenge to grow the impact investor community and introduce investors and impact-curious individu- als into impact investing by providing a learning experience that culminates in making an actual investment in a high-impact company. e program not only educates investors, but helps fund impact entrepreneurs so they can change the world through innovation. The Spring community represents women and BIPOC-led businesses with of the winners of our Impact Investor Challenges being women spring.is linkedin.com/company/spring-is instagram.com/springactivator facebook.com/SpringActivator twitter.com/spring_is Spring Activator team FEB 2023 • ISSUE 04 15VANCITY IMAGINING THE WORLD OF FINANCIAL SERVICES THROUGH AN IMPACT LENS Thinking differently about economic participation and prosperity means being willing to challenge deeply embedded norms. While many Canadian financial services firms have only recently tried to integrate more purpose into their practice, Vancity is well down the track of building lasting positive change for people and the planet as a normal course of business. We spoke with Andrea Harris, VP of Impact Strategy, about how this Vancouver-based financial co-operative is leading with their values without sacrificing profit. Andrea Harris, VP of Impact Strategy at Vancity 16 MAKE THE WORLD BETTER MAGAZINETell us about your organization's mission. As a values-based fi nancial co-operative, Vancity is committed to transforming how banking is done so we can help our members and their communities thrive fi nancially, socially, and environmental- ly. Th is means that we use fi nance as a force for good to create lasting positive impact for people and the planet. What inspired your founders to start your organization? Canadian credit unions were estab- lished in the early 20th century, emerg- ing at a time when traditional banks made it diffi cult for the average citizen to borrow or invest. Most credit unions formed around a common bond, such as a workplace, trade, church, or ethnic affi liation – which made sense since the original idea behind credit unions was to lend money on the basis of character, rather than wealth or property. Although these common-bond credit unions increased access to credit among the working class, they still left out some groups in society. Frustrated by this, the founders of Vancity began promoting the idea of an open-bond credit union, one that was available to any resident, regardless of background. It was an unorthodox idea, but it had many supporters. And in 1946, this idea turned into reality with the creation of Vancouver City Savings Credit Union (Vancity), now the largest credit union in Canada. What do you consider your organization's biggest success? Since our founding, we’ve worked to widen economic participation and help our members and the communities they live in solve real-life problems and close barriers to economic participation. Our close connections with the com- munity and our ability to act quickly in times of crisis have allowed Vancity to provide support in ways usually limited to non-profi ts. When COVID-19 broke out, we knew how we needed to respond. We supported our communities by pushing our governments to introduce broader support for everyone who was fi nancial- ly impacted by the pandemic. We also helped our members divert money to immediate life needs by reducing credit card interest rates to zero, deferring loan and credit card payments, and temporarily waiving fees for online and telephone transactions. What makes your organization unique? We often have to remind people that Vancity is not a philanthropic char- ity. We are a for-profi t co-operative. But thinking about the impact of our actions on people and the planet is ingrained both in how we make our profi ts as well as what we do with them. We share 30% of our net profi ts with members and community groups every year. By the end of 2022, we will have distributed $31.9 million between our members and into partnerships to address broad and systemic needs in communities. How do you feel your organization makes the world better? At Vancity, we’ve translated our values into ethical principles that govern all our business decisions, and we put policies in place that guide diff erent teams in applying these principles to their decisions. We have such policies across our business lending, community investment, and procurement. When we’re looking at a business loan application, for example, we apply a holistic assessment process. We do what every fi nancial institution does: Vancity is committed to transforming how banking is done so we can help our members and their communities thrive financially socially and environmentally This means that we use finance as a force for good to create lasting positive impact for people and the planet At Vancity we’ve translated our values into ethical principles that govern all our business decisions and we put policies in place that guide different teams in applying these principles to their decisions Th e Ryder: a 40-unit aff ordable rental community in Hope, BC that now houses seniors, people working entry- to mid-level jobs, people with disabilities, and small families. FEB 2023 • ISSUE 04 17we look at the fi nancial risks and returns. But at the same time, we also look at the impact that putting our members’ capital into a project will have with respect to people and the planet. We ask ourselves whether this aligns with our values, and we apply a specifi c set of guidelines to our assessment. How can capital be used as a force for positive change? Financial institutions and organizations with huge capital have the power to aff ect systemic change, and there are many ways of doing that. For example, Vancity uses shareholder engagement to push other companies to act on climate, inequality, racism, and discrimination. With trillions of dollars under their control globally, fi nancial institutions have a critical role to play in addressing the climate emergency and transitioning to a clean economy. Th is includes changing what they fund – moving away from emis- sions-heavy industries to cleaner jobs and industries – and factoring climate risks and social benefi ts into their fi nancial planning and reporting, their assessment of loan requests, and their investment decisions. Tell us about your organization's goals. We have a vision of a transformed econo- my that protects the earth and guarantees equity for all. Our strategy to build a clean and fair world involves learning to become a proactively anti-racist organization, while continuing to oppose discrimination, pro- mote Reconciliation, and widen access to fi nancial opportunity and prosperity. One of the ways we try to achieve that is by creating a roadmap for delivering on our climate commitment of reaching net-ze- ro by 2040 – meaning that by 2040, the greenhouse gas emissions from Vancity’s lending portfolio (mostly commercial and residential properties) will be eliminated or signifi cantly reduced. For us, commitments to net-zero are worth zero without a focus on people. Financial institutions and organizations with huge capital have the power to affect systemic change and there are many ways of doing that In numbers We share of our net profi ts with members and community groups every year By the end of we will have distributed million between our members and into partnerships to address broad and systemic needs in communities Since the Vancity Affordable Housing Accelerator Fund has supported the development of affordable rental homes by providing loans for unique housing projects developed by non-profi t housing organizations In units of affordable housing were constructed or renovated with fi nancing from Vancity Since Vancity has distributed more than million to members and communities We want to have a positive impact on people and the planet while continuing to be profi table Soroptimist Apartment House: 135 units of aff ordable housing in Vancouver. 18 MAKE THE WORLD BETTER MAGAZINEWe’re trying to support our members and their communities in becoming resilient, like in the face of more extreme weather events, for example. To ensure Reconciliation is em- bedded into every aspect of Vancity, we added Reconciliation as a core value back in 2016 and created an Indigenous Banking Strategy. Th is is not a one-and-done program, but a process that continues to be improved as we support our Indigenous part- ners – from how we distribute grants, to how we serve members, and how we work to advance Reconciliation. Are there any upcoming initiatives or projects you'd like to share? For many years, Vancity has worked with organizations that help people living along the housing continuum: from emergency shelters through to transitional and subsidized housing, co-operatives, below-market rentals, and property ownership. Since 2011, the Vancity Aff ordable Housing Accelerator Fund has supported the development of 4,450 aff ordable rental homes by provid- ing 75 loans for 59 unique housing projects developed by 31 non-profi t housing organizations. In 2021, 3,150 units of aff ordable housing were con- structed or renovated with fi nancing from Vancity. We are also working with non-profi t housing partners to make homes more comfortable and sustainable. Our Non-Profi t Housing Retrofi t Program is available to hundreds of non-profi t housing providers across BC, and aims to improve energy effi ciency, reduce carbon emissions, and boost the over- all sustainability of BC’s aff ordable housing stock. What do you most want people to know about your organization? We are a member-owned fi nancial co-operative that puts the needs of its members fi rst. We are not account- able to large shareholders and we don’t maximize profi ts at all costs. Since 1994, Vancity has distributed more than $422.3 million to mem- bers and communities. We want to have a positive impact on people and the planet, while continuing to be profi table. How can people help or contribute to your organization's mission? It's important for people to know where their money goes and make responsible choices when it comes to their investments. Vancity off ers only 100% socially responsible invest- ments, but there are also many other options available that allow you to invest in line with your values. Outside of your investment choices, another way to contribute to Vancity’s mission is to support local businesses wherever possible. And if you are a business owner, remember that how you choose to run your business matters. For Vancity, every decision in our organization needs to have an impact lens alongside the profi t lens. Other businesses and organizations can do this as well by setting impact-based business targets alongside their profi t targets. To ensure Reconciliation is embedded into every aspect of Vancity we added Reconciliation as a core value back in and created an Indigenous Banking Strategy vancity.com twitter.com/Vancity facebook.com/Vancity instagram.com/vancitycu linkedin.com/company/vancity youtube.com/vancitycu Mount Douglas Manor: 35 studios and 48 one-bedroom units specifi cally built to house lower-income indepen- dent seniors in Saanich. FEB 2023 • ISSUE 04 19Next >