Grant and Funding Programs Offered by The Upside Foundation of Canada

The Upside Foundation of Canada is a registered charitable foundation that provides a structured way for Canadian tech founders, startups and venture capitalists to convert a portion of their equity or personal upside into charitable funding. Companies and VCs pledge typically around 1% of their equity, options, warrants or carry to Upside. When a liquidity event occurs, such as an acquisition or IPO, Upside converts this equity into cash and donates the proceeds to one or more registered Canadian charities chosen by the member.

Rather than running traditional open-call grant programs, Upside acts as an intermediary donor and infrastructure provider. It holds pledged equity, oversees the legal documentation, and then distributes funds to eligible charities according to the donor’s preferences and the foundation’s donation policy. Since 2014, this model has enabled more than 380 companies and founders to pledge, resulting in over 20 liquidity events and more than $3.2M donated to at least 31 charities across Canada.

Upside’s funding is broadly focused on nonpartisan service organizations that respect fundamental human rights and deliver long-term benefit to Canadians. Because each member company or VC selects its own beneficiaries, supported charities span diverse sectors, including health, youth, education, community services and inclusion initiatives. The foundation conducts due diligence to ensure that all recipient organizations are registered Canadian charities in good standing with the Canada Revenue Agency and align with its donation policy.

Charities do not apply through a formal competition; instead, they are nominated by Upside members who have pledged equity. Upside can advise founders on charity selection and provides charities with tools and best practices to integrate equity pledges into their fundraising strategies.

Before funds are disbursed, Upside reviews potential recipient charities through a due diligence process that may include examination of financial statements, meetings with organizational representatives, and approval by the foundation’s Board. The foundation explicitly avoids funding partisan political activities, discriminatory organizations, or groups associated with violence or terrorism. Upside does not charge fees on the donations it facilitates, though many members voluntarily allocate a small portion of their proceeds to support the foundation’s own operations.

Upside primarily serves Canadian high-growth, private companies that aspire to scale and eventually experience a liquidity event, as well as venture capital professionals who want to align their financial success with social impact. Its community-based model has engaged hundreds of startups and dozens of VCs, building a culture of embedded philanthropy within the Canadian innovation ecosystem. On the beneficiary side, a growing number of charities across Canada receive unpredictable but sometimes significant one-time gifts—ranging from hundreds to millions of dollars—when member companies exit.

Through events, networking opportunities and partnerships such as its role as the Canadian partner of Pledge 1% for equity donations, Upside promotes equity-based philanthropy and encourages founders and investors to build giving into their companies from day one.