Inclusive Women Venture Capital Initiative
Canada
Financial support to increase representation of women in the venture capital industry
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Innovation Canada
- Innovation, Science and Economic Development Canada (ISED)
- Government of Canada
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get financing to reach national audiences and create a more inclusive venture capital environment for women. Assist women entrepreneurs to understand options for financing by providing education and training to support equitable access to funding.
grant_single_labels|projects
There are eligible projects for the Women Entrepreneurship Strategy (WES) Inclusive Women Venture Capital Initiative grant. Projects must be delivered by not-for-profit organizations to increase Canadian women entrepreneurs' access to venture capital funding, contribute to increasing representation of women in the Canadian venture capital industry, and reduce biases in the Canadian venture capital industry.
- Projects must be delivered by not-for-profit organizations.
- Projects should increase Canadian women entrepreneurs' access to venture capital funding.
- Projects should contribute to increasing representation of women in the Canadian venture capital industry.
- Projects should aim to reduce biases in the Canadian venture capital industry.
grant_single|admissibleProjectsExample
$15,000
Creating a mentorship program to connect women entrepreneurs with experienced venture capitalists
$18,000
Develop a curriculum to educate women on venture capital fundraising strategies
$18,000
Launching an online platform to provide educational resources on venture capital to women
$14,000
Establishing a research initiative to study gender biases in venture capital
$12,000
Offering specialized training workshops to equip women entrepreneurs with venture capital skills
$11,000
Organizing networking events to connect women entrepreneurs with venture capital firms
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's profile and proposed activities.
- The applicant must be a not-for-profit organization.
- The project must aim to increase Canadian women entrepreneurs' access to venture capital funding.
- The initiative should contribute to increasing representation of women in the Canadian venture capital industry.
- The project should reduce biases in the Canadian venture capital industry.
grant_eligibility_criteria|who_can_apply
The eligibility for the Women Entrepreneurship Strategy (WES) Inclusive Women Venture Capital Initiative is targeted towards not-for-profit organizations that focus on enhancing the venture capital environment for women entrepreneurs in Canada. The initiative aims to increase access to venture capital funding for Canadian women entrepreneurs, improve women's representation in the venture capital industry, and reduce biases within the industry. However, specific evaluation and selection criteria are not provided in the given context.
grant_eligibility_criteria|eligible_expenses
Eligible expenses for the Women Entrepreneurship Strategy (WES) Inclusive Women Venture Capital Initiative grant may include but are not limited to:
- Program development and delivery costs
- Administrative expenses directly related to the project
- Consultant fees for project-specific expertise
- Training and capacity-building activities
- Outreach and networking costs
- Evaluation and reporting expenses
grant_single_labels|criteria
The evaluation and selection criteria for the Women Entrepreneurship Strategy (WES) Inclusive Women Venture Capital Initiative include the following:
- Alignment with the program objectives and priorities of the WES Inclusive Women Venture Capital Initiative.
- Demonstrated ability to increase access to venture capital funding for Canadian women entrepreneurs.
- Potential to contribute to the representation of women in the Canadian venture capital industry.
- Strategies to reduce biases in the Canadian venture capital industry.
- Sustainability and scalability of the proposed project.
grant_single_labels|register
- Step 1: Prepare your project proposal according to the grant guidelines and criteria.
- Step 2: Submit your application during the open call for proposals, which is currently closed.
- Step 3: Wait for the evaluation process to be completed by the grant administrators.
- Step 4: If successful, follow the instructions provided by the grant program for next steps.
Apply to this program
The Inclusive Women Venture Capital Initiative
The WES Inclusive Women Venture Capital Initiative aims to enhance the venture capital landscape in Canada by supporting projects that increase women entrepreneurs' access to funding. With a dedicated budget of $15 million, this initiative is part of the broader Women Entrepreneurship Strategy set forth by the Government of Canada, which seeks to dismantle systemic barriers faced by women in the venture capital ecosystem.
Enhancing Access and Equity in the Canadian Venture Capital Industry
The Inclusive Women Venture Capital Initiative is an ambitious project initiated by Innovation, Science, and Economic Development Canada as part of the broader Women Entrepreneurship Strategy (WES). This strategy is focused on promoting gender equality and empowering women within economic sectors, particularly in the historically male-dominated venture capital industry. In 2020, it was reported that only 2.3% of global venture capital funding flowed to women-led startups, highlighting the critical need for targeted interventions like the IWVCI in Canada to tackle such disparities and create a more equitable venture capital landscape.
Under the IWVCI, $15 million has been allocated from Budget 2021 to fund a variety of not-for-profit organizations that propose compelling projects aimed at increasing the representation and success of women in the venture capital sector. These projects are expected to establish robust support mechanisms that ensure more women entrepreneurs have the necessary resources and opportunities to grow and scale their businesses. The initiative also seeks to address and mitigate biases that have traditionally existed within the industry by enhancing diverse representation among venture capital firm partners, where women only accounted for 19.4% in Canada as of 2021.
The initiative represents a strategic investment in not just women entrepreneurs but the Canadian economy at large by leveraging the untapped potential of female-led ventures. These efforts aim to disrupt systemic barriers, providing women entrepreneurs with the visibility, mentorship, and financial backing that is typically elusive. In doing so, the IWVCI empowers women to contribute significantly to innovation and economic growth, helping to pave the way toward a more inclusive venture capital ecosystem.
Through the IWVCI's funding, recipient organizations are tasked with the challenge of implementing sustainability-focused projects that foster inclusive practices. This involves collaboration across sectors, sharing of best practices, and fostering a new generation of women leaders in the venture capital space. By addressing historical inequalities and creating pathways for future equity, the IWVCI lays foundational work towards a self-sustained, inclusive venture capital environment.
Overall, the initiative is crafted not just to provide temporary financial backing but to inspire long-lasting change in the venture capital industry. By focusing on long-term systemic change, the IWVCI aligns with the goals of Canada’s Women Entrepreneurship Strategy, which emphasizes more comprehensive empowerment and greater inclusion of women in all facets of economic activity. This initiative reflects an understanding that gender parity in capital access is not just a matter of fairness but vital for dynamic, innovative, and resilient economic development in Canada.
