Together we’re igniting a nation-wide movement of
female driven innovation—backed, financed and
championed by partnership and collaboration.
Through a newly developed national partnership, The51, Sandpiper Ventures, and other like-minded organizations are joining forces to unlock Canadian capital and invest it in Canadian female entrepreneurs and women-led companies. The result of our combined knowledge, shared networks and collaborative non-competitive spirit is called Canada51.
What We Know
In Canada, our population is comprised of 51% women. Yet, as a demographic, women receive just 2.8% of all available venture capital worldwide. Women of colour receive just 0.2% of funding, and there are no stats available for Indigenous women, LGBTQ women and/or women with disabilities, likely because the numbers are so small. The funding gap for women-led businesses, and the complex causes behind it results in significant, detrimental effects on the success of women’s businesses—and thus, the potential of our Canadian economy.
Female entrepreneurs are an underserved group that are consistently over-performing. Even with less access to capital and greater struggles in the start-up phase, female teams consistently outperform their male counterparts by an average 63%. In the wake of COVID-19, innovation, technology and entrepreneurship will be key drivers to our economic recovery. Canada51 understands that when women are afforded equal opportunity to participate in the entrepreneurial field, not only will economic growth experience an unprecedented and deeply essential upsurge, but the social, political and environmental value generated by giving voice to women’s ideas, business models, products and services will be immeasurable.
2019 data indicates…
- Private technology companies led by women are more capital-efficient, achieving 35% higher ROI, and, when venture-backed, 12% higher revenue than start-ups run by men. ( Kauffman Foundation)
- Women-founded companies in First Round Capital’s portfolio outperformed companies founded by men by 63%.
- Despite the severe funding gap, start-ups founded and co-founded by women actually performed better over time, generating 10% more in cumulative revenue over a five-year period. ( BCG)
And the rate of female entrepreneurship is only accelerating…
- “Women-owned businesses are growing much faster than all other businesses. From 2007 to 2018, women-owned businesses grew by 58% in terms of number of firms, and 46% in terms of revenue.” – Geri Stengel, American Express Research Advisor
While the COVID-19 pandemic has generated incredible innovation in certain industries at unprecedented speeds, it has also deepened existing inequalities, more acutely impacted women, and exposed the pre-existing vulnerabilities in our economic systems like never before.
By marrying innovation with capital (capital that brings an updated perspective previously unacknowledged) not to mention buying power and adjunct network effects, Canada51 will empower founders and create businesses that create jobs, changing household income opportunities and positively impacting community and society.
As proponents of financial feminism, we will continue to influence and change existing funding establishments. We will also become leaders who seek, design and build new solutions to represent the innovation lacking in our present funding vehicles, and re-imagine what female-focused funding solutions could look like. By committing to investing in women, we’re igniting an economic engine that will transform our economy, built on the valuable perspectives of multiple stakeholders and representative of the entire population. Making us future-fit and profitable—through a holistic lens of value and impact.
- Unlocking Capital: Levelling the playing field starts with capital. Capital is the engine and currency of the powerful in today’s society; it must be activated across a portfolio represented by diversity.
- Increasing Participation: We need 51% of the population to be fully participating in our society, actively influencing the future of what our country can be – one that can provide for future generations.
- Building Awareness and Capacity: We need to build awareness of this economic and societal opportunity and capacity to thrive; we need to share stories from every corner of our country and build a learning and storytelling platform where both as investors and entrepreneurs, women can unabashedly pursue wealth creation.
- Delivering Economic Value: Sharing access in addition to knowledge and capital is key. Through shared access to business and corporate networks, curated mentorship, access to industry partners, launching customers and export markets we enable female-driven companies to thrive and rapidly scale.
- Influencing Policy Changes: We will work as a collective of like-minded organizations to bring awareness to the economic and social opportunity of investing in women across all levels of government – federal, provincial, and local, thereby changing policy to better support 51% of the population for investing and innovation.
Through partnership and collaboration, we increase our social and economic impact exponentially. Join us, and create a Canadian movement of female driven innovation, monumentally financed and championed.
As Melinda Gates says, “When we invest in women and girls, we are investing in the people who invest in everyone else.”