Halifax, (NS) May 12, 2020 – The51 and Atlantic Women’s Venture Fund are announcing the formalization of an unprecedented national partnership named “Canada51”. By combining their strengths, communities and knowledge, Canada51 will collectively support, amplify and fund women’s businesses across Canada, embracing this unique socioeconomic opportunity and bringing about a positive economic wave on a national scale.
The COVID-19 pandemic has presented Canada and the world with incredible social and economic challenges. However, Canada51 is taking steps to reimagine business models and entire industries in stronger, future-fit ways. By unlocking the potential of female entrepreneurs, Canada51 is liberating not just capital, but the ideas that will see Canada through present, and future challenges.
Canada51 believes supporting female entrepreneurs is the key to economic recovery, as women-led businesses represent an extremely underserved economic group that is consistently overperforming. Women make up 51% of the population yet receive just 2.8% of VC funding available worldwide, 4% in Canada. Female led teams out-perform their male counterparts by an average of 63% higher increase in company value, deliver higher ROI and higher revenues, yet the disparity in representation of women in this field remains. The COVID-19 pandemic has only deepened existing inequalities.
Innovation, technology and entrepreneurship are already expected to drive economic recovery— if women participate equally as both entrepreneurs and investors, Canada51 believes the potential for recovery will be exponentially greater. By committing to investing in women as a collective force, Canada51 is igniting an economic engine that will transform our economy, build on the valuable perspectives of multiple stakeholders and represent the entire population, making Canada future-fit and resilient.
Through partnership and collaboration, Canada51 will increase their social and economic impact exponentially. Join Canada51, and create a collective and collaborative Canadian movement of female driven innovation, well-financed and championed. For more information or to become a member of Canada51 please sign up via www.Canada51.ca. People of all genders are welcome to join this opportunity.
“It’s time for us to invest in what looks like us. At The51, we’ve made a commitment to tap 51% of Canada’s capital, innovation, talent and spending power. We know we can transform Canada’s economy in this decade and beyond and our partnership with AWVF is pivotal to stitching this next economic wave together”, Shelley Kuipers, Co-founder, The51. The51 Co-founders also include Judy Fairburn and Alice Reimer.
“We expect this structured partnership to expand in a very powerful way, creating a nationwide network effect.” says AWVF Co-Founding Partner, Rhiannon Davies, who manages the fund with leading entrepreneurs Sarah Young and Cathy Bennett. “Embracing organizations and individuals who are actively supporting female innovation and capital, delivering sustainable, profitable and inclusive economic growth at a time when it is needed most.”