Subjects: ECO, WOM, SBS, CFG
Minister Ng announces Women Entrepreneurship Strategy investments
Government of Canada investing nearly $10 million to support women entrepreneurs in Atlantic Canada
FREDERICTON, Aug. 19, 2019 /CNW/ - The Government of Canada is advancing women's economic empowerment with the first ever Women Entrepreneurship Strategy (WES), a $2-billion investment that seeks to double the number of women-owned businesses by 2025.
Today, the Honourable Mary Ng, Minister of Small Business and Export Promotion, joined Matt DeCourcey, Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship and Member of Parliament for Fredericton, to celebrate investments of nearly $10 million in women entrepreneurs in Atlantic Canada. This includes new investments of $1,796,595 in women entrepreneurs and in an organization supporting women entrepreneurs in Fredericton and other communities in New Brunswick. This program is administered through the Atlantic Canada Opportunities Agency.
The following women-owned or -led businesses will each receive up to $100,000 through the Women Entrepreneurship Fund to help them grow their business and reach new export markets:
- SomaDetect, located in Fredericton, which will conduct marketing activities to promote its in-line sensor technology for detecting disease in cows
- iTacit, located in Fredericton, which will develop an integrated digital marketing program to reach, attract, and generate demand in new export markets
- Edmundston Truck Stop, located in Edmundston, which will open a second location in Moncton
- South Ridge Maple Co. Ltd., located in Knowlesville, which will partner with the Woodstock First Nation to collect sap and create maple products, while also developing strategic sales and marketing export plans
- MASITEK Instruments, located in Moncton, which will develop a strategic partnership with a large-scale packaging equipment and supplies organization to expand the company's export activities
In addition, Minister Ng announced Moncton-based Conseil économique du Nouveau-Brunswick as a WES Ecosystem Fund (Regional Stream) recipient. It will be receiving $1,211,595 to develop and implement an entrepreneurship support program for women from francophone communities, including francophone immigrant women. The project will prioritize women entrepreneurs in sectors where women are traditionally under-represented and will offer a range of tools while maximizing resources already provided by different partners in the ecosystem process.
Minister Ng also highlighted the 25 other successful WES Ecosystem Fund and Women Entrepreneurship Fund recipients in the region. The Government of Canada has invested a total of nearly $10 million in women entrepreneurs in Atlantic Canada. Through a variety of projects, recipients in New Brunswick, Newfoundland and Labrador, Prince Edward Island, and Nova Scotia are growing their businesses and female entrepreneurs are getting the support the need to start up, scale up, and access new markets. View the complete list of successful projects in Atlantic Canada.
The Women Entrepreneurship Strategy complements the Government of Canada's efforts to advance gender equality. These efforts include addressing pay equity, providing more affordable child care and putting an end to gender-based violence.
Quotes
"Our government believes that women's economic empowerment is not just the right thing to do; it's good for the bottom line. That's why we launched the Women Entrepreneurship Strategy, a strategy that seeks to double the number of women-owned businesses by increasing their access to financing, networks and advice. It's a smart investment with an economic and social return."
? The Honourable Mary Ng, Minister of Small Business and Export Promotion
"The Government of Canada is committed to ensuring the full and equal participation of women in our economy and society. This is why we created the first ever Women Entrepreneurship Strategy, which seeks to double the number of women-owned businesses in Canada in the next six years. Today's investments will help women-owned and -led businesses in Fredericton and across New Brunswick innovate, grow, and export to new markets."
? Matt DeCourcey, Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship and Member of Parliament for Fredericton
Quick facts
- The Women Entrepreneurship Strategy (WES) will help women start and grow their businesses by improving access to financing, talent, networks and expertise through an investment of nearly $2 billion.
- The strategy will help our government achieve its goal of doubling the number of majority women-owned businesses by 2025.
- In Budget 2018, the WES Ecosystem Fund was allocated $85 million to help non-profit, third-party organizations deliver support for women entrepreneurs and address gaps in the ecosystem.
- In Budget 2018, the Government of Canada allocated $20 million to the Women Entrepreneurship Fund. Following the call for applications held in fall 2018, over 3,000 applications were received and over 200 projects were funded. The Government is pleased to be able to support approximately 100 more projects by investing an additional $10 million in the Women Entrepreneurship Fund. With this additional investment, the Government is providing a total of $30 million to women-owned and ?led businesses across Canada to grow their businesses and reach new markets.
- WES complements our government's broader initiatives to advance gender equality. These initiatives include measures on pay equity, more flexible parental leave and more affordable child care.
- Advancing gender equality has the potential to add $150 billion in incremental GDP to the Canadian economy by 2026.
- Just 16% of SMEs in Canada are majority women-owned.
- Only 11.2% of majority women-owned SMEs export, compared to 12.2% of majority male-owned SMEs.
- The Global Entrepreneurship Monitor Canada 2015/16 Report on Women's Entrepreneurship indicated that, in 2016, Canada had the highest percentage of women participating in early-stage activity (13.3%) and the fifth highest in terms of female ownership of established businesses among comparable innovation-based economies.
- Final funding is subject to negotiation of contribution agreements.
Associated links
- Women Entrepreneurship Strategy
- Canada Business App
- Innovation and Skills Plan
- Canadian Trade Commissioner Service
- CanExport
- Accelerated Growth Service
- Industrial Research Assistance Program
- Innovative Solutions Canada
- Venture Capital Catalyst Initiative
- Canada-European Union Comprehensive Economic and Trade Agreement
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership
- Canada-United States-Mexico Agreement
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Annex: Women Entrepreneurship Strategy recipients in Atlantic Canada
WES Ecosystem Fund (National Stream) | |||
Name | Location | Funding amount | Project description |
CBDC Restigouche | Campbellton, NB | $2,170,000 | The organization will launch a Canada-wide, bilingual project to build the capacity of loan agents who work regularly with women entrepreneurs through the development and dissemination of web-based tools. |
WES Ecosystem Fund (Regional Stream) | |||
Name | Location | Funding Amount | Project Description |
Conseil économique du Nouveau-Brunswick | Moncton, NB | $1,211,595 | The organization will develop and implement an entrepreneurship support program for women from francophone communities, including francophone immigrant women. |
Newfoundland and Labrador Organization of Women Entrepreneurs | St. John's, NL | $1,940,292 | This project will create the Atlantic Canadian Women in Business Growth Partnership to address gaps in the women's entrepreneurship ecosystem for diverse groups of women-owned businesses and assist under-represented groups in receiving mentoring. This project is done in partnership with the Centre for Women in Business (Halifax, NS), the PEI Business Women's Association (Charlottetown, PEI), and the New Brunswick Association of CBDC's Women in Business Initiative (Bathurst, NB). |
Centre for Women in Business | Halifax, NS | $2,015,600 | The organization will launch a program called Greater Heights for Growth, which will target high-growth women-owned companies earning over $1 million annually in sectors where women have traditionally been under-represented, such as ocean tech, agri-tech, advanced manufacturing, and information technology. |
Women Entrepreneurship Fund | |||
Name | Location | Funding amount | Project description |
Advanced Glazings | Sydney, NS | $50,000 | Through this project, the company will commercialize the Solera Wall, a newly trademarked product. |
AtlanTick Repellant Products | Mahone Bay, NS | $100,000 | Through this project, the company will improve production capacity and expand market access for its natural tick repellant products. |
BioSpa (Quann) Cosmecuticals | Summerside, PE | $100,000 | Through this project, the company will acquire new processing equipment to increase production. |
Duinkerken Foods | Slemon Park, PE | $90,000 | Through this project, the company will grow its operations, increase productivity, and pursue international export markets. |
Edmundston Truck Stop | Edmundston, NB | $100,000 | Through this Indigenous-led project, the company will open a second location in Moncton. |
Eric C, Robinson Inc. | Albany, PE | $100,000 | Through this project, the company will diversify and grow its farming operations through the acquisition of specialized grain storage tanks. |
Galloping Cows | Port Hood, NS | $90,000 | Through this project, the company will acquire bar code equipment and develop nutritional information for its products. |
iTacit | Fredericton, NB | $100,000 | Through this project, the company will develop an integrated digital marketing program to reach, attract, and generate demand in new export markets. |
Kountry Korner | Robinsons, NL | $100,000 | Through this Indigenous-led project, the company will enhance experiential tourism products. |
Made with Local | Dartmouth, NS | $100,000 | Through this project, the company will purchase a packing line and develop a national marketing strategy. |
Maritime bioLoggers | Dartmouth, NS | $97,500 | Through this project, the company will develop a blood vial measurement unit for vial transport quality control. |
MASITEK Instruments | Moncton, NB | $100,000 | Through this project, the company will develop a strategic partnership with a large-scale packaging equipment and supplies organization to expand its export activities. |
MGS Holdings | Alberton, PE | $100,000 | Through this project, the company will establish a water-based greenhouse grow operation and address the premium early strawberry market with a higher degree of certainty. |
Mrs. Dunster's | Sussex, NB | $100,000 | Through this project, the company will automate elements of the production line and address short-term labour shortages in rural New Brunswick. |
Nain Hotel | Nain, NL | $100,000 | This project will enhance energy efficiency in the building. |
Oceans Ltd. | St. John's, NL | $100,000 | Through this project, the company will develop a seaweed-based veterinary health product with anti-microbial skin health properties. |
Other Ocean Interactive | St. John's, NL | $100,000 | Through this project, the company will undertake product and market development activities to grow export revenues. |
P&B Enterprises | Port Hope Simpson, NL | $100,000 | This project will improve the quality and amenities of an existing tourism operation. |
Passive Design Solutions | Hubley, NS | $100,000 | Through this project, the company will undertake marketing activities to enter national and international markets and increase sales. |
Peer Ledger | Halifax, NS | $50,000 | Through, this project, the company will conduct marketing activities and enhance the sales and customer care capabilities of its blockchain technology. |
Port Rexton Brewing Company | Port Rexton, NL | $100,000 | Through this project, the company will design a new production facility. |
Resilia | Shediac, NB | $75,000 | Through this project, the company will expand to markets globally and increase its sales and market share in North America and other international markets. |
SomaDetect | Fredericton, NB | $100,000 | Through this project, the company will conduct marketing activities to promote its in-line sensor technology for detecting disease in cows. |
South Ridge Maple Co. | Knowlesville, NB | $100,000 | Through this project, the company will partner with the Woodstock First Nation to collect sap and create maple products, while also developing strategic sales and marketing export plans. |
SucSeed Social Enterprises | St. John's, NL | $100,000 | Through this project, the company will create a custom injection-moulded grow tank, move manufacturing into its supply chain, and implement an international marketing initiative. |
The Call Centre Inc. | St. John's NL | $100,000 | Through this project, the company will prepare an export marketing strategy and coach its workforce to ensure it is well positioned to scale. |
Totally Raw Natural Dog Food | Halifax, NS | $100,000 | Through this project, the company will purchase equipment to increase production to meet growing demand for dehydrated pet treats. |
SOURCE Innovation, Science and Economic Development Canada
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