Startup Canada and OnDeck Canada join forces to Invest in Women Entrepreneurs
August 1st, 2019 | Startup Canada and OnDeck Canada (Formerly Evolocity Financial Group) launched today the 2019 Startup Canada Women Founders Fund, which provides micro-grants to women entrepreneurs and women-led companies in STEM (Science, Technology, Engineering and Math) across Canada to help them start and grow their businesses by supporting operations, accessing opportunities, training, and new markets, while accelerating gender parity and further unleash the economic potential of women.
Entrepreneurship is an essential building block for economic growth across the globe. It has been evident as well, the fundamental role that women play in the progress of Canadian economy; however, according to Statistics Canada, only 15.7% of SMEs are owned by women, most with fewer than 19 employees. This Fund aims to change this unequal landscape.
“Considering the importance of companies in STEM fields in our economy, and the fact that less than 30% of individuals participating in this sector are women, it is our mission to unleash their potential in this sector by providing a boost in capital and supporting them in their entrepreneurial journey” said Anastasia Valentine, Chief Executive Director of Startup Canada. “Having seen the impact of this fund over the last three years, we are eager to launch the 2019 Women Founder Fund, and proud to partner with OnDeck Canadato invest in female entrepreneurs”
“We are proud to enter our 4th year of partnership with Start Up Canada to empower and elevate women in small business.” said David Souaid, Chief Revenue Officer of OnDeck. “STEM industries are vastly developing, and traditionally women in this space are underserved as they face a gap in equal opportunity, access to capital, and lack of representation. We see the success and development of the businesses we have worked with, and the power of this platform to bridge the gap. Now as OnDeck Canada, we are thrilled to continue the momentum of investing in small businesses – a critical driver of our economy – as well as the women leaders that drive this growth.”
“Winning the 2018 Women Founders Fund enabled Streamline Genomics to move faster with our product development through the hiring of an intern.” said Josette Landry, Founder and CEO of Streamline Genomics, a medical cloud-based analytics platform. Other last year’s grant recipients include, a non-clinical maternal health app + service Mommy Monitor; an enterprise that creates and deploys AI co workers aiming for faster data-driven decisions PureStrategy.ai, high-tech design and manufacturing of food production systems serving Arctic and Sub-Arctic communities The Growcer, and smart glasses company iBIONICS.
Applications for the Startup Canada Women Founders Fund are due by September 15, 2019, at 11:59 pm PT. For more information and to apply, visit:
The recipients of the Fund will be publicly announced on October 23, 2019, at the sixth annual national Startup Canada Awards Gala at MaRS Discovery District in Toronto, which will celebrate distinguished outstanding achievement in advancing Canadian entrepreneurship, and convene leading Canadian investors, innovators, government, and anchor company executives.
For more information please contact:
Media Relations, Startup Canada
Communications Manager, OnDeck Canada
About Startup Canada
Startup Canada is the national rallying community and voice for Canada’s 3.5 million entrepreneurs. Since launching in 2012, Startup Canada has grown to represent more than 200,000 entrepreneurs and 50 grassroots communities from coast to coast to coast. Through digital programs and flagship events, Startup Canada is the network promoting, inspiring, educating, connecting and giving a voice to Canada’s entrepreneurs; supporting them to start, operate and scale businesses that build a better Canada for the world today and for future generations. For more information, visit www.startupcan.ca.
OnDeck (NYSE: ONDK) is the proven leader in transparent and responsible online lending to small business. Founded in 2006, the company pioneered the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small businesses online. Today, OnDeck offers a wide range of term loans and lines of credit customized for the needs of small business owners. The company also offers bank clients a comprehensive technology and services platform that facilitates online lending to small business customers through ODX, a wholly-owned subsidiary. OnDeck has provided over $11 billion in loans to customers in 700 different industries across the United States, Canada and Australia. The company has an A+ rating with the Better Business Bureau and is rated 5 stars by Trustpilot. For more information, visit www.ondeck.com.
About OnDeck Canada
OnDeck Canada has originated CAD$440 million in small business funds nationally since inception. Today, OnDeck Canada offers a wide range of financing products including, term loans, lines of credit, and merchant cash advances, customized to the needs of small business owners throughout Canada. For more information on OnDeck Canada, visit www.ondeck.ca.