Startup Canada is pleased to announce a partnership with The Upside Foundation of Canada, a registered charity. The Foundation provides an innovative platform for corporate philanthropy: donate options or warrants, not cash. Earlier-stage and high growth private companies can pledge stock options or warrants to the Upside Foundation, convertible into a small portion of equity. When the company has a liquidity event (e.g., IPO, acquisition), the Foundation sells its options for cash and donates the proceeds to registered charities in Canada in the areas of poverty, education and technology. The Foundation has no involvement in the donor companies’ operations.
It’s an innovative and easy way to create a corporate social mission and give back to our community without spending any cash or time. It’s a platform that’s new to Canada but modeled after successful organizations in the US and Israel, which have raised tens of millions of dollars for their local communities. Leading Canadian VCs, incubators, accelerators, and now Startup Canada, supports the platform.
We at Startup Canada believe in the importance of supporting community and we encourage our members and followers to consider giving back through The Upside Foundation. To learn more about The Upside Foundation, watch this short video, email [email protected], visit www.upsidefoundation.ca, or follow @SharetheUpside on Twitter.