STARTUP CANADA LAUNCHES WOMEN FOUNDERS FUND WITH EVOLOCITY FINANCIAL GROUP

startup canada

BY JESSICA GALANG

In partnership with Montreal-based Evolocity Financial Group, Startup Canada announced the launch of Startup Canada Women Founders Fund.

The fund will provide $1,000 in micro grants to female entrepreneurs, while also providing access to Startup Canada’s network of entrepreneurs through the Startup Canada mentorship program, where they can receive mentorship and support.

“Today, Canadian women are starting businesses at double the rate of their male counterparts, yet receive only four per cent of venture capital,” said Marissa McTasney, Startup Canada Women Entrepreneur Fellow and founder of Moxie Trades. “A great portion of these women-led ventures offer significant social contributions, making an investment in women-owned businesses good for our economy and great for our communities. The Startup Canada Women Founders Fund, powered by Evolocity, provides an excellent opportunity for women entrepreneurs to extend their impact as they start and scale their companies.”

Both organizations say that their goal is to address barriers that face women entrepreneurs, including access to mentors and capital.

“As a company whose main mission is financing small business growth in Canada, Evolocity is excited to partner with Startup Canada in identifying and supporting the success of the next generation of innovative female entrepreneurs,” said David Souaid, co-founder and president of Evolocity Financial Group. “We have worked closely with many female business owners over the years and we’ve witnessed first hand the additional obstacles they face in growing their business. This fund is a great way for us to share some of the best practices we have seen in their industries and help support their growth both strategically and financially.”

The fund is currently accepting applications until August 31.