Annual Report 2023-24:
Multiplying Impact

Report
July 6, 2024

Global news headlines over the last 12 months paint the future in a dismal light, with records broken in all the wrong places. Environmentally in temperatures, heatwaves, droughts, and forest fires. Economically in skyrocketing costs of food, housing, and materials. Look only at the headlines, and it would be easy to think nothing is being done to tackle the world’s most urgent climate and economic challenges.

But where others see challenges, we continue to see opportunity.

There can be a bright, more economically and environmentally prosperous future for Canada and around the world for generations to come.

2023-24 marked the end of Foresight’s three-year strategic plan, and we are excited to embark on a new chapter in our journey toward a net zero world economy.

For the last three years, we have tirelessly worked to increase our capacity, accelerating Canadian cleantech to enable Canada to become the first G7 nation to reach net zero. This mission became a rallying cry for innovators, policymakers, investors, and cleantech adopters as we endeavored to clinch first place. That momentum launched Foresight into the impactful organization we are in today as Canada’s largest cleantech and adoption accelerator, and we’ve used that position to discover the key barriers and opportunities in Canada’s cleantech ecosystem, holding frank dialogues and creating meaningful partnerships with the potential to drive us to global cleantech leadership.

Hidden amongst the massive challenges are incredible opportunities, and we believe the main driver of those is cleantech adoption. 

Over the next three years, our mission is to accelerate adoption of the world’s best clean technologies, helping the world do more with less, sustainably, by:

Redefining Acceleration

Create greater alignment and impact across all accelerator programming by integrating industry partnerships, offer different forms of capital to support the scale up of solutions, and ensure all innovators across the country can access support.

Catalyzing Adoption

Integrate all programs, initiatives, and solutions that drive and track adoption of transformative technologies, domestically and around the world, into one platform to streamline buyer engagement and quantify impact.

Strengthening Networks

Strategically align stakeholders to tackle big problems, multiplying the impact of these networks through storytelling and data. 

Modeling Excellence

Prioritize operational excellence by investing in team development, strategic partnerships, and customer experiences.

    While we are proceeding with the urgency the climate crisis demands, we are also taking a moment to look back at the incredible progress we have made since Foresight’s founding in 2013.
    From humble roots in Vancouver, Canada, we have rapidly scaled into a globally connected non-profit, driving the adoption of sustainable innovation in major industries worldwide, multiplying the economic and environmental impact of cleantech acceleration.

Our Lifetime Impact

  • 8,560+ High-Paying Jobs
  • $1.74B in Capital Support Raised 
  • 1,210+ Ventures Supported
  • $504M in Revenue Generated
  • 270+ EIRs & Mentors
  • 200+ Industry partners 
  • 145+ Governments and Indigenous Rights Holders Engaged
  • 60 Innovation Challenges
  • 70+ Mt Projected GHG Emission Reductions by 2033
    Canada’s cleantech ecosystem is one of the strongest in the world, and we at Foresight are proud to have played a part in the establishment of this incredible sector. But we know we need to do more.
    As the impacts of climate change scale up, so has our impact. In 2023-24, we stayed consistent in accelerating and supporting a record number of companies, while setting new records for international investment in our ventures, and building powerful networks of innovators .
    In 2023-24 we continued to build Foresight’s programming, with major accomplishments and milestones, including:  
  • 340 Companies Supported
  • 48 New Mentor & EIR
  • 8,800+ Hours of EIR Support
  • 790 Green Jobs Created
  • $271M+ in Capital Support Raised
  • $66M+ in New Revenue Generated

Our planet has reached a tipping point— the good kind

Thanks to climate champions everywhere, we’ve managed to land on an unstoppable path towards a clean energy transition. New innovators are emerging to tackle unique environmental issues, industries are recognizing the opportunities in the net zero transition, investors are understanding the value of cleantech innovation, and governments are enacting policies that have the potential to curb climate change. 

Cleantech will be the dominant economic driver in the years to come, and Canada has an unprecedented opportunity to lead. 

While we know we have more work to do, and a long way to go to achieve a net zero economy, we are excited to share our progress with you, and invite you to read about our highlights and accomplishments in 2023-24. 

Read the full annual report below.