Innovation Guelph receives $1.9 million federal investment for women entrepreneurship

Innovation Guelph, which supports local entrepreneurs through funding and programming, has received $1,879,983 from the federal government.

The government’s investment is part of its $2 billion Women’s Entrepreneurship Strategy, which aims to double the number of women-owned businesses by 2025. Innovation Guelph will use the money to fund organizations that support women entrepreneurs.

“The women entrepreneurs and business leaders of Innovation Guelph make incredible contributions to our economy.”

“The women entrepreneurs and business leaders of Innovation Guelph make incredible contributions to our economy and community every day,” said Lloyd Longfield, member of parliament for Guelph. “I’m proud to be a part of a Liberal government that takes women’s economic empowerment seriously … I am excited to see what the future holds for the women at Innovation Guelph.”

In the past, Innovation Guelph has supported women entrepreneurs through its Rhyze Project, which helps women find venture capital and mentorship through specific programs. Rhyze aims to raise the number of women-owned businesses in Guelph and Wellington County to 30 per cent by 2025.

“If we want Canada’s economy to run on all cylinders, everyone must have the opportunity to succeed,” said Navdeep Bains, minister of innovation, science and economic development. “Our government’s Women Entrepreneurship Strategy will help business women reach their highest potential and provide their full contribution to our economy by supporting them with the tools they need to grow their businesses and create jobs.”

Innovation Guelph, which is led by executive director Anne Toner Fung, will partner with Business Centre Guelph-Wellington, GreenHouse of St. Paul’s College, University of Waterloo, and the Waterloo Region Small Business Centre to develop new Rhyze programming.

In celebrating the announcement, Mary Ng, minister of small business and export promotion, reiterated her often-used statement, noting, “[The Government of Canada] believes that women’s economic empowerment is not just the right thing to do, it’s good for the bottom line.”

“That’s why we launched the Women Entrepreneurship Strategy … it’s a smart investment with an economic and social return,” she stated, arguing that the current Liberal government is the best “under which to be a woman in Canada’s history.”

Image courtesy Innovation Guelph via Twitter