Aviva Ventures is investing $180 million in disruptive high-potential startups around the globe
TORONTO, June 20, 2016 /CNW/ - Aviva Canada announces another industry first by bringing Aviva Ventures to Canada. Aviva Ventures is investing $180 million CAD over the next five years in high-potential digital startups around the globe. Aviva will host their first-ever Pitch Day event in Toronto on October 11, 2016.
The call for submissions is now open and closes August 26, 2016. Through a selection and short-listing process, the top 10 Canadian-based digital startup submissions will pitch to a panel of Aviva advisors in Aviva's new digital development shop in downtown Toronto for their chance to be considered for an investment of up to $10 million CAD.
"Pitch Day is another way we're fostering digital innovation in the insurance industry and staying on the forefront of technology that's cutting edge," said Ben Isotta-Riches, Chief Information Officer, Aviva Canada. "We're excited to make investments and collaborate with startups that can offer new, creative and unique ideas to our company and add value for our customers."
Canadian startups interested in participating in Pitch Day can visit avivapitchday.ca to view the requirements and submit an application. In order to qualify for Pitch Day, startups must specialize in one of four investment categories: 'The Internet of Things' (IoT), data and analytics, distribution or innovative new propositions for customers.
"We continue to thrive in the digital space with a portfolio of businesses Aviva Ventures has invested in so far in the UK," said Ben Luckett, Managing Director, Aviva Ventures. "We're ready to hit the ground running to meet the growing market opportunities of high-growth, digital startups in Canada."
About Aviva Canada
Aviva Canada is one of the leading property and casualty insurance groups in the country providing home, automobile, leisure/lifestyle and business insurance to more than three million customers. A wholly-owned subsidiary of UK-based Aviva plc, the company has more than 3,500 employees, 25 locations across Canada and approximately 1,500 independent broker partners.
Aviva Canada invests in positive change through the Aviva Community Fund, Canada's longest running online community funding competition. Since its inception in 2009, the Aviva Community Fund has awarded $6.5 million to over 222 charities and community groups nationwide.
About Aviva Ventures
Aviva Ventures is Aviva's corporate venture fund and is wholly-owned by Aviva plc. It forms part of Aviva's wider innovation strategy and was launched in December 2015. Currently operating out of Aviva's digital garage in London England, Aviva Ventures is looking to make investments across the markets where Aviva operates. The fund aims to invest £100 million over the next five years into startup businesses that will disrupt, lead and transform the insurance industry.
SOURCE Aviva Canada Inc.
For further information: Media Contact: Priscilla Wong, Public Relations Specialist, Aviva Canada Inc., Desk: 416 288 6780, Mobile: 647 208 7523, [email protected]