To mark International Women's Day 2023, Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, announced the recipients of funding under the Women Entrepreneurship Strategy (WES). This nearly $7 billion initiative is helping remove systemic barriers women face in accessing the financing, resources and networks they need to start up, scale up and reach international markets:
Eight new projects approved for $25 million in funding through round 1 of the WES Ecosystem Fund. The eight approved projects under round 1 of the Ecosystem Fund will provide entrepreneurship training, business acceleration support, networking and mentorship opportunities to help diverse and underserved women across the country reach their business goals.
Fifteen organizations selected for $40 million in funding to deliver round 2 of the WES Ecosystem Fund. The recipients of funding under round 2 of the WES Ecosystem Fund will focus on supporting women entrepreneurs in their areas of strength—such as the care economy and the retail and service sectors—as well as providing coverage in rural and remote regions and the north.
Five organizations approved for $15 million in funding to deliver the Inclusive Women Venture Capital Initiative
Since its launch, the WES Ecosystem Fund has helped more than 10,000 women start new businesses and more than 12,000 women grow their existing ones. An extra 35,000 people will be accepted in 2022-23.