TELUS launches new $100 million social impact fund to invest in new sustainable businesses with bold ideas to drive social c...
November 24 2020 - 6:00AM
Today, TELUS announced the launch of its new TELUS Pollinator Fund
for Good, a $100 million social impact investment fund created to
power the biggest, boldest, bravest ideas in new responsible and
sustainable startup businesses. The fund will invest in
entrepreneurs building solutions aimed at improving healthcare,
furthering social and economic inclusion, ensuring sustainable food
production, and reducing our environmental footprint. The TELUS
Pollinator Fund for Good will fuel greater social innovation in
Canada through investments in companies that generate both
financial and social returns benefiting our society.
“The Pollinator Fund for Good represents the progression of
TELUS’ social capitalism thesis, as we invest in entrepreneurs
and prescient business models that share our belief that to do well
as an organisation, we must do good in the communities where we
live, work, and serve,” said Darren Entwistle, President and CEO,
TELUS. “This $100 million investment will accelerate potent,
scalable and socially responsible services coming to market,
helping to answer some of the most pressing challenges facing our
world, including socio-economic inclusiveness. As one of the
largest corporate impact funds globally, our TELUS Pollinator
portfolio will improve health, environmental and food
sustainability outcomes by investing in our next generation of
innovators, leveraging transformative digital technologies, to
advance TELUS’ promise of a friendly future for all.”
TELUS remains committed to helping Canadian businesses and
entrepreneurs adapt and navigate the massive social and economic
disruptions posed by COVID-19. The TELUS Pollinator Fund for Good
will help scale early-stage companies and invest in those brave
enough to tackle societal challenges, deliver value to communities,
and fuel economic growth. Investments will focus on for-profit
companies and founders committed to driving social innovation and
economic growth in the following four areas:
- Transforming healthcare: Digital solutions
that make safe and quality physical and mental healthcare
accessible and efficient for all Canadians.
- Enabling inclusive communities: Startups
building solutions to further social and economic inclusion and
ensuring everyone has an opportunity to reach their full
potential.
- Supporting responsible agriculture: Companies
providing innovative technology-first solutions that empower the
agriculture industry to improve Canada’s food systems.
- Caring for our planet: Companies and
entrepreneurs building solutions to better the planet and reduce
our environmental footprints.
An advisory board of entrepreneurs, investors and thought
leaders with expertise across the impact areas is being formed to
advise on strategy, markets, and deal sourcing. Early-stage
companies receiving investment will benefit from the insights and
expertise from TELUS’ depth and breadth of resources, including the
TELUS Friendly Future Foundation, TELUS’ Community Boards, TELUS
Health, Sustainability, and TELUS Ventures with its broad-reaching
network within the venture capital space, to drive meaningful
social impact in Canada.
“As a leading corporation in the world, we have an
accountability to invest in new responsible businesses to ensure
their success and impact,” said Jill Schnarr, Chief Social
Innovation Officer. “At TELUS, we boldly believe profit and purpose
are mutually inclusive and we’re doing our part to support
purpose-driven businesses that are addressing the needs of our
communities today, as well as those we expect to be significant
drivers of our economy for years to come.”
The TELUS Pollinator Fund for Good is proud to announce three
cornerstone partnerships:
- Windmill Microlending is Canada’s largest
microlending program, offering microloans and individualized
learning plans to help skilled immigrants and refugees continue
their careers in Canada. On average, clients’ incomes increase 3.4x
upon completion of the learning plan.
- Rhiza Capital is a Sunshine Coast-based impact
investment fund that invests in B.C.-based companies that drive
both social and economic impact within the regions that they
serve.
- Tidal Vision is a US-based company that has
developed a proprietary process for upcycling crustacean shells to
develop a non-toxic, zero waste biopolymer that has applications
across many industries, including textiles, agriculture, and
wastewater treatment.
“As a global leader in social capitalism, we believe that
responsible business means purpose and profit go hand-in-hand. The
investments made by the TELUS Pollinator Fund for Good aren’t
restricted to Canadian-based companies driving social innovation;
it’s open to entrepreneurs worldwide looking to scale and grow
their impact in Canada,” said Blair Miller, Managing Partner. “We
look forward to working with our partners and advisors to identify
and support purpose-driven companies doing good around the
world.”
Since 2000, TELUS has contributed $1.3 billion in value, time,
and financial support to Canadian charities and grassroots
organizations, making TELUS one of the most giving companies in the
world. The new TELUS Pollinator Fund for Good is an extension of
TELUS’ continued commitment to lead the charge in social capitalism
through new investments in socially innovative and responsible
products to drive financial return and economic growth while
providing portfolio companies with the expertise and support from a
world-leading communications and information technology
company.
About the TELUS Pollinator Fund for GoodThe
$100 million TELUS Pollinator Fund for Good is one of Canada’s
largest corporate impact funds, and will focus its investment on
for-profit companies and founders committed to driving social
innovation. The TELUS Pollinator Fund for Good is an extension of
TELUS’ long-standing commitment to leveraging the power of
technology to drive positive social and environmental outcomes for
all Canadians by funding the development of solutions for
transforming healthcare, caring for our planet, supporting
responsible agriculture and enabling inclusive communities. To
learn more about the TELUS Pollinator Fund for Good, please visit:
telus.com/pollinatorfund
About TELUSTELUS (TSX: T,
NYSE: TU) is a dynamic, world-leading communications and
information technology company with $15 billion in annual revenue
and 15.4 million customer connections spanning wireless, data, IP,
voice, television, entertainment, video and security. At TELUS, we
leverage our world-leading technology’s potential to enable
remarkable human outcomes. Our long-standing commitment to putting
customers first fuels every aspect of our business, making us a
distinct leader in customer service excellence and loyalty. TELUS
Health is Canada’s largest healthcare IT provider, and TELUS
International delivers the most innovative business process
solutions to some of the world’s most established brands.
Driven by our passionate social purpose to connect all Canadians
for good, our deeply meaningful and enduring philosophy to give
where we live has inspired our team members and retirees to
contribute $736 million and 1.4 million days of service since 2000.
This unprecedented generosity and unparalleled volunteerism have
made TELUS the most giving company in the world.
For more information about TELUS, please visit telus.com and
follow us on Twitter (@TELUSnews) and on Instagram
(@Darren_Entwistle).
For media inquiries, please contact:
Jill YetmanTELUS Public
Relations416-992-2639jill.yetman@telus.com
A video accompanying this announcement is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/5d3b12c6-3b3f-4ccd-9829-2150547d205e
Photos accompanying this announcement are available
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/8522795b-bb20-47ee-8c6d-f70d3e10021ehttps://www.globenewswire.com/NewsRoom/AttachmentNg/9192f687-ee3b-4a3c-8405-78ada7b9475a
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