-
About
-
Global
-
About GEN
Operating in 200 countries to make it easier for anyone to start and scale.
-
Board + Staff
Leading the strategic direction and daily execution of the GEN mission.
-
Our Partners
A range of organizations contributing expertise, experience and energy.
-
About GEN
-
National Leadership
-
Managing Directors
Individuals leading GEN chapters and all aspects of national engagement.
-
Global Leaders
Individuals contributing to national engagement in GEN programs.
-
Managing Directors
-
Compass Awards
Celebrating excellence and honoring those making a difference.
-
Contact GEN
Reach out to our team with any questions.
-
Global
-
Our Work
-
Our Pillars
-
GEN Ecosystems
Stronger and more globally-connected entrepreneurial ecosystems.
-
GEN Founders
Empowering innovators from all backgrounds to achieve their full potential.
-
GEN Invest
The right capital in the right hands – at the right time.
-
GEN Policy
Evidence-based ideas for smart policy design to help entrepreneurs thrive.
-
GEN Ecosystems
-
Our Work
-
GEN Programs
View a list of all our programs.
-
GEN Events
Flagship events + ongoing event series driving connectivity.
-
GEN Programs
-
Our Impact
-
Impact Reports
In-depth look at GEN’s impact each year since it began in 2008.
-
Impact Stories
Examples of GEN’s impact on individuals and ecosystems around the world.
-
Impact Reports
-
Our Pillars
-
Resources
-
GEN Connect
-
Ecosystem Connect
Connect with ecosystem builders + community leaders worldwide.
-
Founder Connect
Connect with founders building the next generation of startups.
-
Investor Connect
Connect with angels, VCs + other investors aligned to your stage + goals.
-
Mentor Connect
Connect with experienced mentors across our global network.
-
Ecosystem Connect
-
Policy + Research
-
GEN Atlas
Collection of public sector policies + programs to drive economic growth.
-
GEN Research Library
Collection of the latest research strategies, reports, data sets + more.
-
GEN Atlas
-
More Helpful Tools
-
Events Calendar
Find events advancing entrepreneurship near you + around the world.
-
GEN Speakers Bureau
Commission-free directory of speakers for your next entrepreneurship event.
-
GEN Community Directory
Searchable directory of GEN members representing 200 countries.
-
No Bad Ideas
Card game designed to help turn your ideas into great ones – no mistakes.
-
Events Calendar
-
GEN Connect
-
Events
-
Overview
Brief summary of all GEN events + gatherings
-
Global Entrepreneurship Congress
Global gathering of delegates shaping the future of entrepreneurship.
-
GEC+
Regional or sector-specific deep-dives built off the GEC model.
-
GEN Exchange
Virtual webinars for GEN community members to explore timely issues.
-
GEN Meetup
Open-source model to hold your own ecosystem event.
-
Startup Huddle
Chapters crowd-sourcing advice + support, one entrepreneur at a time.
-
Startup Nations Summit
Gathering of policymakers on regulatory issues + innovative programs.
-
Events Calendar
Find an entrepreneurship event near you.
-
Overview
-
News
-
Global Newsfeed
All of the unfiltered news + updates from the GEN community.
-
The Startup State
Major entrepreneurship announcements, reports, commentary + features.
-
Press + Media Kit
Official GEN assets and information for journalists, partners, and storytellers.
-
Subscribe
Sign-up to receive important updates, event invitations + more.
-
Global Newsfeed
- Countries
User login
Women Entrepreneurship Strategy
The Women Entrepreneurship Strategy (WES) is a comprehensive plan launched in 2019 by the Government of Canada aimed at doubling the number of women-owned businesses by 2025 with $7 billion in commitments and investments.
What are the main aims and objectives?
The central goal of WES is for women to play an equal and complete role in the economy. This goal is underpinned by several objectives including:
-
Advancing gender equality and women's participation in the economy, which could add up to $150 billion to Canada's GDP.
-
Doubling the number of women-owned businesses by 2025.
-
Enhancing women-owned businesses' access to financing to help them grow and access new markets
-
Increasing access to mentoring, skills development and networking for women entrepreneurs
-
Improving participation of under-represented groups in federal business innovation programmes
-
Gathering and sharing data and knowledge on best practices for women entrepreneurs
How does the program work?
The WES currently contains four main initiatives that address access to finance, mentorship, skills development and knowledge sharing.
WES Inclusive Women Venture Capital Initiative
The WES Inclusive Women Venture Capital Initiative in Canada is a program aimed at promoting gender inclusion and equal opportunities for women entrepreneurs in the venture capital (VC) industry. It is a 2-year program supported by $15 million allocated in the 2021 budget which is to be invested in non-profits and projects that improve women's access to capital and representation in the Canadian VC ecosystem – which in 2021 was just 19.4% – while tackling gender bias more broadly. For example, $2.3 million of the fund has been used to fund the Building Community Initiative and the Women in Tech project which offer resources, training and mentorship to women entrepreneurs and investors.
Women Entrepreneurship Loan Fund
The Women Entrepreneurship Loan Fund offers microloans of up to $50,000 to help women entrepreneurs and business owners expand their companies and foster economic growth. The Government of Canada has allocated $55 million for loans to be distributed through selected delivery organizations that women entrepreneurs can apply through. The full list of delivery organizations is available here.
WES Ecosystem Fund
The purpose of the WES Ecosystem Fund is to strengthen capacity within the entrepreneurship ecosystem and close gaps in service for women entrepreneurs. It focuses on supporting not-for-profit organizations and projects that address ecosystem gaps for diverse populations of women entrepreneurs, and prioritizes projects in areas of strength for women entrepreneurs, including those in rural, remote, and Northern areas. The projects funded by this program will also provide entrepreneurship training, business acceleration support, networking and mentorship opportunities. The fund has invested $100 million over five years and received an additional $65 million in Budget 2021, bringing the total investment to $165 million.
The Women Entrepreneurship Knowledge Hub
The Women Entrepreneurship Knowledge Hub is a comprehensive digital platform in Canada that supports and promotes women entrepreneurship. Its primary goal is to connect women entrepreneurs with valuable resources, data, and best practices from across the nation. The Hub’s activities include: collecting, analyzing and dissemination information through research on women’s entrepreneurship, supporting and sharing best practices among women business support organizations and reporting on the progress of women entrepreneurs in Canada.
With backing from the government and collaboration with over 75 partners, WEKH addresses the unique challenges faced by women entrepreneurs by building a national network and regional hubs. The Hub has received $13.62 million in funding to date.
What is the overall cost?
Overall, the Canadian Government has pledged $7 billion in funding to Women Entrepreneurship Strategy, however, to date significantly less than that appears to have been spent so far. The combined funding for the four initiatives described in the previous section amounts to just $248.62 million.
How was it implemented?
Canada's Women Entrepreneurship Strategy (WES) was developed through a collaborative process involving extensive consultations with various stakeholders. The development of WES involved gathering input from women entrepreneurs, organizations supporting women entrepreneurs, and experts in the field. By working closely with stakeholders and incorporating their insights, the Canadian government ensured that the Women Entrepreneurship Strategy is well-targeted and effective in addressing the unique challenges faced by women entrepreneurs.
TIME LINE:
July 28, 2021 – Minister Ng launches call for applications to deliver the Women Entrepreneurship Loan Fund
January 11, 2022 – Minister Ng announces new call for proposals under the Women Entrepreneurship Strategy Ecosystem Fund
March 8, 2022 – Minister Ng announces the next phase of the Women Entrepreneurship Strategy
March 28, 2022 – Minister Ng announces renewed funding for the Women Entrepreneurship Knowledge Hub
April 25, 2022 – Minister Ng launches call for applications to deliver the Inclusive Women Venture Capital Initiative
March 8, 2023 – Minister Ng announces recipients of funding under the Women Entrepreneurship Strategy
What impact has been measured?
In March 2023, May Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development announced the achievement of important milestones for the Women Entrepreneurship Strategy. Since its launch in 2021, the program has:
-
Helped more than 10,000 women start new businesses
-
Helped more than 12,000 women grow their existing business
-
Approved eight new projects for $25 million in funding through round 1 of the WES Ecosystem Fund
-
Approved fifteen organizations selected for $40 million in funding to deliver round 2 of the WES Ecosystem Fund
-
Approved five organizations approved for $15 million in funding to deliver the Inclusive Women Venture Capital Initiative
However, no information has yet been provided on progress towards their stated objective of doubling the number of women-owned businesses by 2025. Given that the program still has two more years left to run we anticipate more outcome analysis will be produced in the next few years.
