Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: ESG, Financial Inclusion, Sustainable Finance
Nova Credit and RBC Partner to Bridge Newcomer Credit Cap
Release | Jun 21, 2024
Image: Nova Credit and RBC partnership to support newcomers
Nova Credit and RBC Join Forces to Simplify Financial Start for Newcomers
Nova Credit has announced a partnership with the Royal Bank of Canada (RBC) to make it easier for newcomers to Canada to obtain credit. Newcomers to Canada frequently find it difficult to obtain loans, credit cards, or mortgages since they do not yet have a Canadian credit history.
See: RBC and Rogers Cybersecure Catalyst Launch New Fintech Incubator
Nova Credit's technology solves this problem by transforming international credit data into a format that Canadian lenders can comprehend and apply. This integration enables newcomers to carry their credit history from their home countries, thereby bridging the gap and providing more seamless access to financial goods in Canada.
Nova Credit is a credit infrastructure and analytics innovator committed to providing alternative credit data solutions. Nova Credit makes it easier for immigrants and newcomers to access financial services by converting international credit data into local equivalents. Report: 2024 State of Alternative Credit Data
Partnership Features
- This credit information passporting technology will be implemented into RBC's Global Credit Connect, allowing for real-time translation and integration of overseas credit histories into Canadian-equivalent scores.
- Eligible arrivals can now qualify for a variety of financial services, including credit cards and auto loans, depending on their overseas credit history.
- The partnership promises to make newcomers' experiences more inclusive and welcoming, as well as to help them integrate and stabilize their finances.
See: BDC’s $250M Boost for Inclusive Entrepreneurship in Canada
Janet Boyle, Senior Vice President at RBC:
"Our goal is to make the financial transition for newcomers as seamless as possible. This partnership with Nova Credit allows us to extend immediate financial services to new Canadians, recognizing their creditworthiness from day one."
Collin Galster, Head of International at Nova Credit:
"Working with RBC is a major milestone in our mission to support immigrants. Together, we are creating a more inclusive financial system that acknowledges the diverse backgrounds of new Canadians."
A Step Towards Financial Inclusivity
This partnership has the potential to make Canada a more welcoming and financially accessible place for newcomers.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Generative AI and Major Human Rights Fintech Risks
GenAI | May 28, 2024
Image: Freepik/rawpixel.com
Key GenAI Human Rights Risks That Fintech Companies Need To Mitigate
As generative AI (GenAI) technologies are increasingly being integrated into fintech companies to create unrivalled opportunities for efficiency and innovation, fintech founders need to develop responsibly and respect the most crucial human rights. B-Tech, a project of the UN Human Rights Office of the High Commissioner has published an informative paper linking these risks to the Universal Declaration of Human Rights (UDHR) in a recent report titled, "Taxonomy of Human Rights Risks Connected to Generative AI". Such risks include threats to privacy, further discrimination and bias, job displacement that leads to economic instability, and an infringement on freedom of expression and access to true information. Below are some key fintech related risks. Let's dig in...
1. Privacy and Data Protection
"No one shall be subjected to arbitrary interference with his privacy, family, home or correspondence, nor to attacks upon his honour and reputation. Everyone has the right to the protection of the law against such interference or attacks." UDHR Article 12
Financial technology companies are processing reams of sensitive personal data. GenAI technology enhances the data analytics, but at the same time, it risks serious threats to privacy. The greatest fears are around the deepfake abuse, unauthorized data scraping, and intrusions into the privacy of personal data.
- The capability of creating convincingly realistic fake content will implicate identity impersonation for the purposes of fraud.
- The malpractice of unapproved data scraping of personal data from social media and other sources is likely to lead to violation of privacy.
2. Prejudice and Bias
"All are equal before the law and are entitled without any discrimination to equal protection of the law." UDHR Article 7
GenAI systems can further highlight, replicate, and amplify training data bias, leading to adverse practices in credit scoring, loan approval, customer service, among others.
- AI-trained models built from biased data sets could unfairly deny loans or credit to certain demographic groups.
- Automated processes and decision making may further exacerbate the already existing socioeconomic inequalities.
3. Right to Work and Economic Stability
"Everyone has the right to work, to free choice of employment, to just and favourable conditions of work and to protection against unemployment." UDHR Article 23(1)
Potential GenAl applications in fintech may automate even repeatable jobs, thus leading to relocation of employment opportunities. This affects the economic stability and right of gainful living.
- Automation of customer service and compliance positions could see significant job displacement.
- The shift to AI-driven processes will likely expand the economic gap and truly affect a wide range of labour, not just the unskilled
4. Freedom of Expression and Access to Information (Bill of Rights Chapter Four)
"Everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers." UDHR Article 19
In fintech, the key is trustworthy information to support making informed decisions based on facts and reliability. AI in its current form might propagate misinformation adversely affecting trust in financial systems and fuelling the flow of incorrect information.
See: CAI’s Draft AI Framework for Human Rights
- A fake piece of financial news produced by AI could fuel market manipulation and investor confidence loss.
- Overreliance on AI for information can lead to a failure to tap multiple, diverse, and reliable sources of information.
What Could Happen If There's a Breach?
A violation of any of these human rights can lead to various forms of recourse:
- Individuals can seek redress under data protection regulations, for example, the General Data Protection Regulation (GDPR) in Europe. This regulation calls for strict privacy protections and tends to impose severely high penalties for non-compliance.
- A breach involving discrimination or bias may trigger anti-discrimination laws, which prohibit unfair treatment on the basis of race, gender, ethnicity, and other protected characteristics.
- A violation of the right to work and economic stability, employees can claim based on employment and labor laws that protect against unfair dismissals or unsafe working environments.
- Financial regulators, such as the SEC in the US have the authority to investigate and litigate fintech businesses on breaches of the financial regulations that have a consumer protection and ethical behavior conduct element.
- Most countries have human rights commissions or kinds of bodies through which the complaints filed are taken to the extent of taking any necessary measures against firms abusing human rights.
See: The Battle for Privacy in the Digital Age
- Filing of class action lawsuits can lead companies to alter unethical practices.
- Another remedy is through individual law suits for recovery of damages due to an injury suffered because of a breach.
- Negative media or influencer publicity would publicly exposed the fintech firm and it would tarnish its reputation, which would press the firm to change its practices. Advocacy groups could also have campaigns for more awareness to make companies accountable.
- Shareholders and investors pressure fintech companies to maintain ethical practices and respect for human rights, leading corporations to shift their policies and practices.
As one can see from the long list above, violated individuals and organizations have a range of channels to seek redress and hold the fintech companies accountable for human rights violations.
How to Proactively Mitigate Human Rights Risks in Fintech
Several best practices that fintech companies and financial institutions might adopt to proactively mitigate these risks of human rights.
1. Implement Ethical AI Guidelines and Conduct Regular Audits
- Adopt and enforce policies that make ethics and human rights the key considerations in the development and application of AI.
- Establish internal review boards for the AI projects to ensure that the projects are within the ethical standards and human rights principles.
- Conduct regular audits of AI systems and algorithms to prevent data from having bias or that algorithms don't further bias the data thus making unfair and discriminatory practices.
See: India Biometric Data Breach Highlights Cybersecurity Risks
- Use privacy impact assessments regularly to prevent data protection and privacy threats.
- Conduct AI operations, decision-making, and policies on the use of data in a transparent manner and publicly report on the use of AI including any measures to mitigate human rights-related risks.
2. Engage Stakeholders and Invest in Training
- Collaborate with human rights industry experts, organizations, and regulatory bodies to keep on top of best practices and evolving standards.
- Engage a diversity of stakeholders, inclusive of customers and affected communities, in the development and review of AI systems.
- Train all employees comprehensively in ethical AI practices, data privacy, and human rights.
3. Data Protection and Inclusive Innovation
- Develop strong management and data security measures to protect sensitive, personally identifiable information from potential breaches and unauthorized access.
- Put anonymization and encryption methods into place for personal data.
- Use diverse training data when developing AI solutions to reduce bias.
4. Establish Clear Recourse Mechanisms
- Stay informed of the laws and regulations in force. Adhere to industry standards and guidelines for the ethical use of AI and fintech operations.
- Prepare, develop, and implement plans to remediate any harm that has been caused by the AI system.
See: NIST Insights: GenAI Risk Management Framework
- Setup clear way to handle complaints and grievances related to the outcomes of the AI systems.
- All leaders in the company must commit to practising and ensuring an ethical corporate culture that encourages ethical behaviour, transparency, and respect of human rights.
Conclusion
Generative AI is a game-changer in fintech but it can amplify potential human rights risks. Companies big and small are advised to proactively mitigate core risks through privacy-first design, elimination of biases through culture, staff training, and ethical leadership and integrity around the processes and information within their organizations. Businesses need to embrace ethical guidelines, be subject to periodic audits, and include stakeholders in the process of building trust and responsibility in the use of AI for financial services.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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How Carbon Pricing Impacts Fintech and Investment Strategies
Carbon Pricing | May 17, 2024
Image: Freepik
Exploring how carbon pricing impacts fintech and investment strategies
Carbon pricing is emerging as an effective mechanism in combating climate change, influencing industries worldwide, including fintech. For fintech founders and investors, understanding carbon pricing's role and potential impacts is essential for strategic decision-making. A study published in Nature Communications suggests that carbon pricing is essential for achieving net-zero emissions by 2050. It acts as a financial incentive for businesses to innovate and invest in clean technologies, fostering a sustainable economic model
Does Carbon Pricing Work?
Carbon pricing is a tool used to reduce greenhouse gas emissions but it's under intense scrutiny. With diverse implementations globally, its effectiveness remains an important question for policymakers, businesses, and environmentalists. Research indicates that carbon pricing mechanisms, such as carbon taxes and cap-and-trade systems, have been effective in reducing emissions. A meta-analysis of ex-post evaluations reveals that regions with carbon pricing saw significant reductions in CO2 emissions. For example, Sweden’s carbon tax, introduced in 1991, has been credited with reducing its emissions by approximately 25% while the economy grew by 75%.
See: Fintech Can Combat Corporate Greenwashing
As of 2023, over 60 carbon pricing initiatives have been implemented globally, covering about 20% of global emissions. The European Union’s carbon price has surged past €50 per ton, while Canada plans to increase its price to CAN$170 per ton by 2030.
Doesn't it Stifle Economic Growth?
Concerns about the economic impact of carbon pricing are common, yet evidence suggests that it does not stifle economic growth. Studies show that well-designed carbon pricing can stimulate innovation and lead to more efficient energy use. For instance, British Columbia's carbon tax, implemented in 2008, has been associated with a 5-15% reduction in emissions with no adverse impact on GDP growth.
The effectiveness of carbon pricing also depends on how the generated revenue is used. Countries like Canada and Switzerland use carbon tax revenues to fund green initiatives or to reduce other taxes, thereby mitigating any regressive effects and garnering public support. In Canada, the revenue from carbon pricing is returned to households through rebates, making the policy more politically palatable and socially equitable.
Impact on Investment Strategies
Investors are increasingly incorporating carbon pricing into their decision-making processes. According to the World Bank, carbon pricing policies generated approximately $95 billion in revenue in 2023, underscoring their economic significance. For fintech investors, understanding these dynamics is crucial as companies with robust carbon management strategies often attract more investment. The integration of carbon pricing data helps in assessing the financial risk associated with carbon-intensive operations.
Fintech’s Role in Green Finance
Fintech is driving innovations in green finance by facilitating investments in sustainable projects. Blockchain technology, for instance, enhances the transparency and integrity of green bond markets, fostering greater investor confidence. Platforms that provide real-time environmental data are enabling more accurate assessment and management of carbon emissions, which is critical for compliance and strategic planning.
See: Canada’s Shift to Enhanced Climate Disclosures
Carbon accounting has become a well-funded sector within climate fintech, with startups raising significant capital to develop tools that measure and report carbon emissions. In 2022, carbon accounting startups attracted $970 million globally. Carbon offsetting, the practice of compensating for emissions by investing in environmental projects, also saw substantial growth, indicating a growing market opportunity for fintech solutions that facilitate these transactions.
Global Adoption Challenges
The adoption of carbon pricing varies globally, with the EU Emissions Trading System (EU ETS) being one of the largest schemes. However, challenges persist, such as carbon leakage, where businesses move production to countries with laxer emission regulations (a sort of 'race to the bottom'). Addressing these challenges requires international cooperation and mechanisms to ensure a level playing field.
See: SG Launches First Digital Green Bond on Ethereum
The increasing adoption of internal carbon pricing by corporations reflects a proactive approach to managing climate risks. More than 2,000 companies worldwide are using or plan to implement internal carbon prices. This trend is driven by regulatory pressures and the growing demand for transparency from investors and stakeholders. The International Monetary Fund (IMF) suggests that coordinated international efforts, such as establishing a global carbon price floor, could further enhance the effectiveness of carbon pricing policies.
Conclusion
The data-driven consensus from multiple studies is that carbon pricing works effectively in reducing greenhouse gas emissions without harming economic growth. By encouraging energy efficiency and green innovation, it's an important tool in the global effort to combat climate change. However, its success largely depends on how policies are implemented, international cooperation, and transparent use of revenues.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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CSA Backs New Sustainability Disclosure Standards
Policy | March 14, 2024
Image: Freepik
Canadian Regulators Advance Sustainability Disclosure Standards
On March 13, 2024, the Canadian Securities Administrators (CSA) endorsed the Canadian Sustainability Standards Board's (CSSB) consultation on the inaugural Canadian Sustainability Disclosure Standards 1 and 2 which integrates sustainability into the fabric of Canadian financial reporting setting a new benchmark for responsible investment and corporate governance.
See: Canada’s Shift to Enhanced Climate Disclosures
- The CSSB's consultation seeks to gather broad feedback on its first set of sustainability disclosure standards, aiming to refine and enhance these guidelines based on stakeholder input. For the CSSB standards to become mandatory, they must be incorporated into CSA rules. This process will involve a thorough review and potential modification of the standards to align with the unique needs of the Canadian market.
- The CSA is closely monitoring global developments, including the SEC’s recent approval of climate-related disclosure rules, to ensure Canadian standards are harmonized with international best practices.
- Post-consultation, the CSA plans to propose a revised rule focusing on climate-related disclosures, taking into account the finalized CSSB standards. This proposal will seek public feedback on various aspects, including application scope and compliance support for issuers.
Stan Magidson, CSA Chair and Chair and CEO of the Alberta Securities Commission:
“We are pleased to see publication of the CSSB’s consultation on its first set of standards. We’re interested in the feedback the CSSB receives generally and specific to certain questions, as it may help inform revisions to our proposed climate-related disclosure rule. We strongly encourage interested and affected parties to share their views on the proposed CSSB standards.”
See: Fintech Can Combat Corporate Greenwashing
Outlook
With the SEC approving climate-related disclosure rules, Canadian regulators are aligning with global standards, and by addressing the specific needs of Canadian issuers, the CSA and CSSB are transitioning to a more sustainable, transparent, and resilient financial ecosystem.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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SEC Adopts New Climate Disclosure Rules, Excluding Scope 3
Regulation | March 13, 2024
Image: Pixabay/geralt
SEC's New Climate Disclosure Rules Will Be A Game Changer for Investors
The Securities and Exchange Commission (SEC) has recently adopted new rules aimed at enhancing and standardizing climate-related disclosures by public companies and in public offerings (after receiving 24,000 comment letters). This move is a response to the growing demand from investors for more consistent, comparable, and reliable information regarding the financial impacts of climate-related risks on companies. Here's a closer look at what these rules entail and why they matter.
- Companies are now required to disclose climate-related risks that significantly affect their business strategy, operations, or financial condition. Registrants must conduct a detailed impact analysis of the actual and potential material impacts of identified climate-related risks on their strategy, business model, and outlook. Companies must provide both quantitative and qualitative descriptions of expenditures and impacts resulting from activities to mitigate or adapt to material climate-related risks.
See: Cato Analysis: SECs Proposed Climate‐risk Disclosure
- Disclosures must include information on the board's oversight of climate-related risks and management's role in assessing and managing these risks.
- Companies are required to describe their processes for identifying, assessing, and managing material climate-related risks and how these processes are integrated into their overall risk management.
- Large accelerated filers and accelerated filers must disclose material Scope 1 and Scope 2 emissions, with assurance reports provided at specified levels.
- Notes to the financial statements must detail the capitalized costs, expenditures, and losses related to severe weather events, carbon offsets, and renewable energy credits, as well as the impact of these factors on financial estimates and assumptions.
Reaction
An article by Governance Intelligence called "Why the requirements are much weaker than planned" by Sehoon Kim, highlights the significant dilution of the initially proposed requirements, particularly the controversial decision to not mandate companies to report Scope 3 emissions, which pertain to emissions generated throughout a company's supply chain and by the use of its products. This decision represents a substantial scaling back from the original proposal, focusing instead on requiring larger companies to disclose Scope 1 and Scope 2 emissions, related to their direct operations and energy use, only when such information is deemed materially relevant to investors.
See: Climate Inflation Discussion for a Sustainable Future
Scope 3 emission requirements sparked intense public debate and received a record number of comments, reflecting strong interest and significant opposition, including threats of legal action from several Republican state attorneys general. Much of the debate has centered on 'cost-benefit concerns' whether the compliance costs for companies would outweigh the benefits of mandated disclosures to investors. The SEC's own estimates suggested substantial compliance costs, potentially doubling for the average publicly listed company.
The rules are expected to disproportionately affect smaller companies, which are less likely to have voluntary disclosure practices in place, while larger corporations may see minimal impact.
* March 18, 2024 Update
Why It Matters
By requiring detailed disclosures, the SEC aims to provide investors with the tools they need to make informed decisions based on the climate-related risks and opportunities faced by companies.
See: Sustainability: A Must for Fintech Growth
These mandated disclosures promote transparency and accountability and encourage companies to more actively manage their climate-related risks, potentially leading to more sustainable business practices over the long term.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Conservative Backlash Leads to DEI Retreat on Wall Street
DEI | March 4, 2024
Image: Freepik/rawpixel.com
Wall Street Pulls Back on DEI Initiatives Due to Growing Conservative Backlash and Internal Pressures
Wall Street has begun to quietly pull back from its Diversity, Equity, and Inclusion (DEI) commitments, marking a corporate shift in America's approach to diversity. This retreat is attributed to a growing conservative backlash and internal pressures, leading to a reevaluation of DEI strategies across major financial institutions.
- Goldman Sachs has notably opened its "Possibilities Summit" for Black college students to White students, reflecting a broader trend of inclusivity. Similarly, Bank of America and Bank of New York Mellon are rethinking their DEI-focused programs and diversity metrics, respectively, under legal advisories to avoid accusations of reverse discrimination.
- The retreat is partly in response to legal challenges and the potential for lawsuits alleging reverse discrimination. This cautious approach follows the U.S. Supreme Court's rejection of affirmative action in colleges, fueling concerns over corporate diversity initiatives' legality. There's an undercurrent of resentment among some White employees, contributing to the reassessment of DEI efforts. This internal pushback is a quiet yet significant force influencing corporate decisions.
See: Fast Company Survey Finds Capitalism at Crossroads
- Despite efforts to improve diversity, the representation of Black senior executives in major banks like Goldman Sachs (3.7%), JPMorgan Chase (5%), and Citigroup (8.7%) remains low compared to their overall U.S. population percentage (about 14%).
- While public declarations remain supportive of DEI, internal adjustments suggest that companies are reworking recruitment programs and reviewing diversity targets to address the evolving legal and social landscape.
Why It Matters
This shift in Wall Street's DEI approach signals a broader reevaluation of corporate diversity strategies amidst changing legal interpretations and societal attitudes. The retreat from previously ambitious DEI commitments reflects the complex interplay between legal risks, internal dynamics, and external pressures.
See: McKinsey Report: Diversity in Global Private Markets 2022 and Institutional Investors as Catalysts for Change
The future of workplace diversity and inclusion efforts remains uncertain. There's a need for a balanced approach that addresses legal concerns while striving for genuine inclusivity.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Tech4SickKids – Innovate for a Healthier Tomorrow
Philanthropy | Feb 28, 2024
Drive Change: Support Tech4SickKids Now
We're helping rally innovators, influencers, and drivers of change—to join Tech4SickKids in a monumental challenge: raising $25 million to revolutionize SickKids with big-data solutions and a state-of-the-art hospital. This initiative isn't just about building walls; it's about breaking down barriers to the limitless possibilities of AI and modern medicine.
See: Bill Gates Announces $20 Billion Donation and Obligation to Return His Resources to Society
By aligning with Tech4SickKids, you join a community of forward-thinking entrepreneurs who understand that true success comes from making a positive impact on the world. This is your chance to leave a philanthropic legacy that transcends your business achievements, demonstrating the powerful role that entrepreneurs can play in solving real-world problems.
How You Can Join the Movement
- Donate: Every gift, whether one-time or monthly, fuels the fight. Your donation today is an investment in the future of pediatric care.
- Pledge Your Support: Through the Upside Foundation, tech founders can make a lasting impact by donating 1% of their company's equity at the time of sale or IPO. It's a simple way to give back that grows with your success.
See: Giving block reports, Crypto philanthropy jumped nearly 16x in 2021
- Leverage Your Corporate Clout: Encourage your company to match donations, become a sponsor, or initiate an employee giving program. It's an opportunity for corporate social responsibility that benefits everyone involved.
- Start Your Own Fundraiser: Engage your team and community by hosting an event in support of SickKids. Whether it's a gala, a hackathon, or a charity run, every event makes a difference. Find inspiration, register your event, and access our toolkit and resources to make your fundraiser a success.
Video: Precision Child Health Campaign
Erin Bury and Kevin Oulds, Co-founders Wilful:
"When we started Willful it was important for us to bake giving back into our strategy from day one. One early commitment we made was pledging 1% of Willful's equity to SickKids via The Upside Foundation. We're both passionate about having a world-class children's hospital available for our own kids and those in our community, so it was an easy choice to make. This has been a signal to employees, investors, and the larger community that we care about more than just the bottom line."
Take the Next Step
We invite you to learn more about how you can contribute to this transformative mission. Whether through equity pledges, offering your expertise, or advocating for the cause, your involvement can help build a new SickKids that stands at the forefront of pediatric healthcare innovation.
See: Bringing Good Ideas to Life: 13 Modern Ways to Innovate
For more information and to make your pledge, simply submit a pledge form at upsidefoundation.ca/pledge or reach out to Leonard Nolasco at leonard.nolasco@sickkidsfoundation.com
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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