Can a carrot get you to exercise more or quit smoking? Public health and Bay Street are betting on it
As the backer of a new social venture — an app fittingly named Carrot Rewards — the federal government is betting on yes. And so is a less likely player in the world of social entrepreneurship: Bay Street.
The Public Health Agency of Canada provided initial funding of $5 million, and the government of British Columbia gave $2.5 million as part of an original contribution agreement. Venture capitalists invested another $2 million while loyalty providers and charitable advisers jumped on board — each convinced the app could entice an effective and more affordable alternative to traditional health advertising and efforts.