News Summary

The Upside Foundation, a Canadian tech charitable platform founded in 2012, has handed over its operations to the SickKids Foundation’s Charitable Giving Fund. This transition aims to better position the foundation to continue facilitating charity donations from Canadian tech founders. The Upside Foundation allowed tech founders to pledge one percent equity in their startup to a Canadian charity. Over its operation, it helped 385 companies allocate equity, resulting in 21 exits and nearly $4 million directed to 23 Canadian charities. The SickKids Foundation, established in 1972, will now manage these pledges and allow future pledge-makers to continue donating equity to registered Canadian charities. This move is seen as a strategic alignment to grow sustainable revenue opportunities through innovation. Upside’s executive director, Juanita Lee-Garcia, will continue to support the operations within SickKids as a strategic advisor. The transition reflects the changing landscape in tech and charitable giving, with a downturn in tech exits and venture capital investments affecting the frequency of charitable opportunities.