Why donating 1% of my startup to The Hospital For SickKids via The Upside Foundation of Canada
By Philip Poulidis, co-founder of ODAIA.ai
May 15, 2019
Today, we are happy to announce ODAIA’s donation of 1% of our equity to The Upside Foundation of Canada in support of The Hospital for Sick Children’s Tech4SickKids Initiative. The Upside Foundation is a registered Canadian charity that empowers Canadian startups to support worthy causes, and a part of the larger Pledge 1% global movement. Hundreds of Canadian startups have donated equity, which, upon a successful liquidity event, convert to a donation to the charity of their choice.
ODAIA has chosen to support Tech4SickKids, where Canada’s tech and innovation community is rallying together to raise $25 million for new, state-of-the-art spaces, people and programs. Specifically, the initiative will support:
a transformation of The Hospital For Sick Children’s campus
SickKids’ Big Data Initiatives
a Chair in Biomedical Informatics & Artificial Intelligence, which is being funded in part by a $1.75 million donation from Toronto entrepreneur and ODAIA investor, Amar Varma.
Choosing The Hospital for Sick Children as the recipient was an easy choice, as two of ODAIA’s founders have been personally touched by SickKids. In 2007, my two-year-old son suffered a potentially life-threatening illness called intussusception. SickKids immediately provided the care that he needed. The doctors and nursing staff went out of their way to comfort us and ensure that both my wife and I were well-informed of the procedure they were planning. My co-founder Periklis Andritsos, was also personally touched by SickKids Hospital when his niece received the care she needed after she was born with a life-threatening heart condition.
“Given the importance of institutions like SickKids for our community and our world, not to mention the profound impact it has had on our lives, it means a lot to us to have this opportunity to give back”, adds Periklis Andritsos.
For us at ODAIA, this donation reflects and reinforces our core values of giving back to our community and supporting the advancement of technology for improving people’s lives.
According to Upside’s Executive Director, Jennifer Couldrey, the Foundation is “thrilled to have a company with such high potential as ODAIA pledging to share their upside. We look forward to being along for the journey as the talented, committed founding team builds a strong business and is able to make an enormous impact in years to come”.
As our company grows, we look forward to seeing the Upside Foundation Canada, the Hospital for Sick Children, and the people they help, flourish with us.
About ODAIA ODAIA is an enterprise SaaS company that uses process mining and machine learning to turn customer data from multiple sources into business insights and predictions that drive actionable outcomes and better customer experiences. www.odaia.ai @odaiaAI
About The Upside Foundation of Canada The Upside Foundation of Canada brings the Canadian tech & innovation community together to do good. Founders building high-growth companies embed giving back into the DNA of their company by donating stock options or warrants, which, upon successful liquidity event, convert to a donation to the charity of their choice. www.upsidefoundation.ca @sharetheupside www.tech4sickkids.com