The Nyoka Light Wand is a non-toxic, biodegradable glow stick. File photo

The Nyoka Light Wand is a non-toxic, biodegradable glow stick. File photo

Women-led fund supports Comox Valley social enterprise

Nyoka Design Labs focus on sustainable alternatives to billions of glow sticks that end up in landfills

Thrive Impact Fund (TIF), a women-led impact investment fund, is supporting Nyoka Design Labs, a Comox Valley-based social enterprise that develops clean-tech alternatives to luminescent materials and products.

Nyoka is focused on providing a sustainable alternative to the billion glow sticks that end up in landfills each year. Building toward a circular economy model, Nyoka is on course to becoming a B-Corp enterprise.

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“Financing is what pushes a company towards success,” Nyoka founder/CEO Paige Whitehead says in a news release. “Thrive Impact Fund supports impact-focused companies like Nyoka Design Labs access the type of financing that is often only available to later stage companies. Having a diverse financing strategy is already helping accelerate our impact, boost our revenue, and helps me sleep at night. Thank you so much to the TIF team for supporting our success.”

TIF launched on Vancouver Island last year. The place-based, impact investment fund provides flexible financing and support to help innovative and impactful enterprises succeed. The outcomes are positive social, environmental, or cultural benefits for communities on Vancouver Island and beyond. The fund offers investors an opportunity to put money to work for good, locally. The goal is to build a $10 million evergreen fund that invests for impact, now and into the future.

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