To answer questions about the program and/or application process, ISED and the Women Entrepreneurship Knowledge Hub are hosting an information session on May 10, 2022, at 2:30 pm Eastern Time (ET).
Register for the webinar
The Government of Canada is committed to advancing gender equality, women's economic empowerment, and supporting women entrepreneurs through the Women Entrepreneurship Strategy (WES).
What is the Inclusive Women Venture Capital Initiative?
The WES Inclusive Women Venture Capital Initiative is a 3 year non-repayable contribution program totaling $15 million that seeks to strengthen and build a more inclusive venture capital environment for Canadian women.
It will fund projects including initiatives to strengthen the capacity of women entrepreneurs to access venture capital funding, contribute to increasing representation of women in the venture capital industry, or initiatives to reduce biases in the venture capital industry.
The lead applicant must be a Canadian not-for-profit organization with minimum of two years of operating experience (by June 2022) with a focus on supporting women in the venture capital environment. The lead applicant should fall under at least one of the categories of not-for-profit organizations or associations listed in Section B.4.i of the Application Guide.
For-profit organizations and others not listed under the Section B.4.i of the Application Guide are ineligible to apply as a lead applicant. For additional clarity, the funding available under this initiative cannot provide direct capital investment to women owned or led businesses, create investment funds, nor be further distributed.
Partnerships are encouraged; however, an organization may choose to apply independently.
Applicants may also apply as a partnership of not-for-profit organizations or a partnership of not-for-profit and for-profit organizations/entities. The partnership must be led by a not-for-profit organization.
Organizations can be a partner for different applications.
For additional details on how to apply as part of a partnership/consortium, please see Section B.4.i and ii of the Application Guide.
Project scope and areas of focus
- Be completed by March 31, 2025 (project lengths may vary)
- Have a minimum total project budget of $600,000 and not exceed a budget of $5,000,000 with a reasonable budget request based on organizations' previous experience, history, and capacity
- Provide services on a national or multi-regional scale (at least 5 provinces or territories), and
- Deliver services and products in both official languages as per the Official Languages Act
Eligible focus areas include one or more of the following:
- Assist women entrepreneurs to better understand available options for financing and enable them to pursue and access such options
- Support efforts to advance and grow the representation of women in roles such as investors/fund managers in various venture capital industry contexts
- Provide education and training to support equitable access to funding and/or promotion of related practices to the venture capital industry (such as venture capitalists, angel networks, financial institutions, and others)
- Engage investors to better understand, adapt to and work with women entrepreneurs or their enterprises
- Foster networking or mentoring models to facilitate access to capital for women entrepreneurs and their businesses, and
- Demonstrate support and contributions in other areas to strengthen the network of women and diverse entrepreneurship organizations in Canada, aligned with the Inclusive Women Venture Capital Initiative's objectives
Please see Section B.4.iv of the Application Guide for more details.
The Government of Canada invites eligible organizations to submit proposals in either English or French no later than June 20, 2022 (11:59 a.m. PST). Applications must include all required information outlined in Section 7 of the application guide to be considered in the next stage of the selection process. Late submissions will not be considered.
Please contact the WES Central Inbox (firstname.lastname@example.org) or call 1-800-328-6189 for questions or concerns.
Submitting your application
Interested applicants can apply through the Application Form. After completing the Application Form via our website, please submit all required supporting documents by selecting the "Add Attachments" and "Submit" buttons directly in the form. When you are ready to submit the Application Form, please first print or save a copy for your records.