The ClimateSpark Venture Challenge is open to registered charities and/or non-profit organizations based in the City of Toronto. Individuals and for-profit entities must partner with a registered charity and/or a registered non-profit organization to participate in the Challenge. Individuals and for-profits can enter the Challenge without a non-profit partner in place, but must establish such a collaboration by the end of Round 1 of Ignite (October 28th) to be eligible to proceed to Round 2. Click here for a list of current entrants who are interested in developing new partnerships.
Entrants will be judged on the following criteria:
Capacity and viability: The proponent has the demonstrated ability to further the venture and to create a formal business plan indicating a feasible pathway to successful implementation of the venture within three years.
Climate impact: The proponent must demonstrate that the successful establishment – or replication and scale-up – of the proposed activity can support a significant greenhouse gas emissions reduction in Toronto. Click here for more information on quantifying emission reductions.
Innovation: The proposed venture is an original, new social venture, or a new spin on an older approach. It can be a product, service, approach, financial tool, partnership or other initiative, including new ways to bring people together to sustain a new initiative over the longer term.
Community connection: A plan or strategy that links the venture to the broader community to provide impetus for engaging a broader and/or more diverse group of people in the climate solutions conversation.
Selection of the top 20 entrants in Ignite Round 1 and top 10 entries in Ignite Round 2 will be based:
- 30% on community reviewers' star ratings
- 50% on ClimateSpark Experts assessment (conducted offline at the end of the round), which will take into account community comments and interaction
- 20% on ClimateSpark Partners (TAF, TCF, CSI) assessment of criteria match and suitability for investment
Top 20 finishers in Ignite Round 1 go onto Ignite Round 2; top 10 finishers in Ignite Round 2 go on to Accelerate. Click here for the full Challenge Terms & Conditions