Keith Ippel, the founder and Co-CEO of Spring, has raised over $47 million in early-stage capital for his impact investing ecosystem. He believes that the North American economy thrives on immigrants, with Canada welcoming approximately 500,000 newcomers each year and the U.S. having almost 15% of its population born in another country. Many of these immigrants are entrepreneurs seeking to take advantage of the entrepreneurial mindset and support systems available in North America.
Entrepreneurship has become a way for immigrants to overcome barriers they may face in traditional employment. For example, healthcare workers with qualifications that don’t align with North American standards may choose to start health-tech startups instead. Despite the potential impact immigrant entrepreneurs could have, they are still underserved and underfunded by the current investment ecosystem. It is believed that they could grow faster and create more jobs if given the opportunity.
To support immigrant founders, it is important to understand the challenges they face in accessing capital. This includes learning what it means to be capital-ready, understanding the capital landscape, familiarizing themselves with financial terminology, and connecting with the right investors. North American investors can help immigrant founders by providing training, education, mentorship, and networking opportunities to help them navigate the funding process.
Building a community that is welcoming and supportive of newcomer entrepreneurs is essential in creating a clear path to funding. Organizations like the National Angel Capital Organization and the Angel Capital Association are working towards establishing this community support. Investors also have a responsibility to look past surface differences and uncover the potential of the work being done by immigrant founders. By acting as mentors, advisors, and creating matchmaking opportunities, investors can help immigrant entrepreneurs succeed.
Supporting immigrant entrepreneurs not only benefits the individuals themselves but also contributes to the local economy. Immigrant founders represent untapped potential for financial returns and impact. By removing existing barriers, investors can unlock new opportunities for growth and innovation. Immigrant entrepreneurs have the potential to provide a return on investment that goes beyond financial gains, creating a return on impact that benefits both investors and the community at large.
