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In times of stress, there’s another way—tend and befriend
We understand that creating a new world requires us to act differently, unravel our conditioning, and have the courage to show up and care for one another. We put our dreams on the table and trust that others will show up to uplift them.
Vicki Saunders
Coralus Founding Activator
Apply now!
If you’re working on the world’s to-do list in your venture, and you self-identify as a woman or as non-binary, we’d love for you to join us.
Next call for applications:
CA + US—Monday 25 September 2023
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Frequently
Asked Questions
We bootstrap our operations with a mix of government grants, partners, and community subscription contributions.
Coralus is a federally incorporated not-for-profit in Canada, governed by a Board of Directors.
Please see below for how we are structured in each country:
- In the US, the Fund is managed through Philanthropic Ventures Foundation (PVF), on behalf of Coralus. PVF is a 501(c)(3) nonprofit, EIN number 94-3136771.
- In Australia, Coralus has a local bank account with CBA, opened up under the umbrella of Coralus Canada Fund.
- In New Zealand, Coralus has a local bank account with Westpac, opened up under the umbrella of Coralus Canada Fund.
- For the UK, Coralus has partnered with HSBC to open a non-resident account, under the umbrella of Coralus Canada Fund
The intention behind the Fund is to build a perpetual fund that passes on to future generations. With that outcome, we will build a succession plan for governance so that this money exists in perpetuity.
If at some point in the future we feel as a community that this fund is no longer needed or needs to wind down we will find an organization with a similar mission to partner with through an agreed upon process by the Coralus Board of Directors. In our incorporation documents, instructions to the Board read as follows: Any property remaining on liquidation of the Corporation, after discharge of liabilities, shall be distributed to one or more qualified donees within the meaning of subsection 248(1) of the Income Tax Act.
Coralus has an Advisory Board of Directors who meet regularly and all financial statements are audited annually.
While we recognize that all people will need to work together in order to build the new world, we know this is going to take time. Our starting point is women and non-binary only. There is also emerging data that indicates women + non-binary investors better understand women-led + non-binary Ventures, and that women-led + non-binary Ventures funded by women + non-binary folks perform better. Every day, working together, we remember that we have all we need to redesign, redefine and recreate this world. If you have further questions or want to know how our position has evolved, please contact hi@coralus.world.
Folks who wish to contribute capital can gift a subscription to a woman or non-binary person in their life (a child, sibling, spouse, mentee, entrepreneur, colleague, etc.) or to someone who has applied to Coralus for a gifted spot. With gifted Activations, you’ll contribute 80% ($880 or £680) of the cost and the recipient will contribute the remaining 20% ($220 or £170) and be able to participate fully in the Coralus community.
Men can also encourage entrepreneurs to apply to Coralus help spread the word about Coralus to their networks.
We are committed to building a diverse global community of individuals of all ages, races, ethnicities and cultures. Our goal is to build a new regenerative economy that is life sustaining. There is a lack of diversity in our current power structures, which results in highly inequitable systems. It is our intention to build a highly diverse community.
Coralus members currently range in age from 11-96. We continuously strive to work alongside BIPOC communities in all regions around the world to transform systems and work together to heal generations of racism and inequality. Getting into relationship with one another – working together for the benefit of all – is part of our economic, social, and cultural reconciliation.
Coralus is a community of like-hearted people who connect in our desire to build new systems and create the world in which we want to live. Community members bring their unique experiences and contribute what they have to offer to the community. We have folks in our community who are artists, teachers, caregivers, business professionals, and so much more. We are not a place for any one type of person. We are a place where all types of people can come together to shape what we are co-creating.
We welcome all levels of participation and consider this to be a community that you join on your own terms. We understand that life gets busy so we invite you to engage in a way that works for you. If you want to contribute your capital but don’t have time beyond that, great! If you want to be highly engaged, support the Ventures and help grow the community, that works too!
Your experience in the collective is on your own terms. You can be involved as much as you like. No guilt!
Connect with others – The collective is a network of well-connected, experienced and generous women and non-binary people who are here to support each other. You might meet your next business partner, mentor, investor, or lifelong friend.
Ask & Give – We have all that we need in this network to reach our potential. If you need something, ask. If you have something to give, please offer it.
Vote to select the Ventures – Each year there are two rounds of online voting where you can share feedback with Venture applicants and help decide which entrepreneurs in your region will receive funding, coaching, and access to the community.
Support the Ventures – You’ll hear the latest Venture updates and Asks (what they need help with) on calls and in the newsletters, and you are welcome to get involved as a customer, advisor, connector, amplifier, and/or follow-on fund investor to help the Ventures grow their businesses.
Learn and take action around building equitable systems and shifting mindsets – As an Activator you’ll be invited to participate in learning sessions, retreats, in-person gatherings, and podcasts.
And if you want to get even more involved, there are opportunities to host and facilitate calls and events, join and organize working groups within the network (e.g. Coaches Collective, Ask/Give Collective), help grow the Coralus community, help Ventures with their financials, and more!
Yes! You can either gift an Activation to a woman or non-binary person in your life (a child, sibling, spouse, mentee, entrepreneur, colleague, etc.) or to someone who has applied to Coralus for a gifted spot.
With gifted Activations, you’ll contribute 80% ($880 or £680) and the recipient will contribute the remaining 20% ($220 or £170) and be able to participate fully as an Activator in the Coralus community.
If the Activator contribution represents a financial barrier but you want to be part of Coralus’s global community, we invite you to apply for a gifted Activation.
How it works: 80% of the Activator contribution will be covered thanks to the generosity of another person’s gift; for 20% ($220 or £170) you’ll help fund the Ventures and get to participate fully in the community.
We are also fortunate from time to time to partner with other organizations, who gift in cohorts of Activators and offer additional benefits and support. A recent example is our partnership with PNC Bank, which offers a gifted Activation, access to a financial advisor,and monthly programming.
No. When you sign up, you will select one of our 5 current regions to Activate in (Canada, the US, New Zealand, Australia, the UK). Your payment will be in that region’s currency and will help fund Ventures in that region, and as an Activator you’ll get to vote for the Ventures in that region. You do NOT need to live there to Activate, and you are welcome to participate in any/all of our events.
We’ve had several expats Activate in their home country as a way to give back and stay connected. We’ve had Activators who live in Singapore, Hong Kong, Germany, the Netherlands, Japan, Switzerland, and beyond.
You can join year-round. Subscriptions are recurring monthly, recurring annual, or a single year. Once you join the community - we consider you an Activator for life. Keeping an active subscription will enable you to participate in voting to select the Ventures each year as well as other member benefits. Continuing ongoing contributions allows us to grow the Coralus perpetual fund and support more women and non-binary entrepreneurs doing world changing work. If your circumstances permit, we’d love for this to be an ongoing contribution.
It’s not required to Activate in order to apply as a Venture. However, we do recommend joining to get a feel for the community first and to begin receiving support sooner. Many Ventures who have been selected started out by activating first and connecting with the community in order to build on and strengthen their application.
Venture applications open once a year per hemisphere - North (Canada, US, UK) usually opens in September / October. South (Australia and New Zealand) usually opens in April / May. Visit our application portal for dates, details, and sign up to the interest list to be oneof the first to hear about when we open.
Coralus members democratically vote to support various types of Ventures who create significant positive impact across all sectors who align with at least one of the following UN Sustainable Development Goals.
We are agnostic about age or sector or structure. If you are a for-profit, not-for-profit or charity that generates revenue and can pay back a loan over 5 years, then you can apply.
No, we are agnostic about age or sector or structure. If you are a for-profit, not-for-profit or charity that generates revenue and can pay back a loan over 5 years, then you can apply.
Yes! If you are an entrepreneur and meet the criteria (majority women- or non-binary-owned and led, minimum $50K or £40K in revenue this year, and creating a better world), we encourage you to apply. If you are applying as a Venture, becoming an Activator is agreat way to join the Coralus community, begin building relationships and get the support you need to grow your business.
In order to apply to be a Coralus Venture, you must meet all eligibility requirements including the minimum revenue. Many Ventures begin as Activators, and leverage the network to get the support they need through our community of radically generous women + nonbinary folks with all different sorts of expertise and connections.
If your business meets the eligibility criteria then yes you can apply.
- Describe Your Venture.
- What is your Venture’s vision?
- Why you? Why now? Why are you the person to solve the problem your Venture is addressing? Why is now the right time?
- Which UN Sustainability Goal are you working on (you may have more than one but please highlight one) and how are you measuring impact? How are you working on the goal? How are you measuring impact?
- What is your current business model? How do you currently make money?
- Outside of customer revenue, how much money have you raised/received from other sources?
- Reciprocity is an important part of the Coralus experience. Why do you want to join our venture community? What do you want to give and receive?
- Tell us about your team. How do you define roles and responsibilities? Current number of full time employees? Current number of part-time employees/contractors on your team?
At Coralus, we trust the intuition of the collective to determine/select the Ventures. When voting we ask them to keep the following in mind:
- Would you buy or refer to this product or service to your network?
- Do you think the entrepreneur has what it takes to lead this company?
- Do you think this business is creating a better world (is it a new mindset, new model or new solution in how they run their business or in their product and service)?
- Is the business exporting to other countries or have export potential?
The loan amount for the cohort is determined by the number of active members contributing to the pool of funds divided by the number of ventures (eg: If the pool was $125,000, each venture could get $25000 max). It tops out at $100,000 maximum for an individual venture in each country.
The 0%-interest loan has a five-year term that is paid back in 20 equal installments. We don’t restrict what the loan is used for except it cannot be used to pay back debt. As the funds are paid back, the money gets reinvested into the fund and loaned out again to new Ventures.
The first quarter after the retreat is devoted to starting engaging with your development guide, getting deeply connected to the community, and working with an Activator accountant for learning and support. At the end of the quarter, with insights from the Activator CFO and your Development Guide’s support, you’ll assess whether you want to take a loan and if so, how much and whether it should be given all at once or tied to milestones.
We’ve had ventures take no loan because they are getting what they need from the community and the coaching, take a small amount, take it with milestones and get the full amount all at once—whatever is best given the Venture’s unique situation and ability to repay.
Coralus reserves the right to accept or reject a Venture’s request; however we strive for alignment between the Venture and the Guides.
Still have a question?
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Economic Development Canada
Développement économic Canada
We acknowledge the support of the Government of Canada’s Women Entrepreneurship Loan Fund.
Nous reconnaissons l’appui du Fonds d’emprunt pour l’entrepreneuriat féminin du gouvernement du Canada.