BDC Partners with Founders Fund to Support Underrepresented Women Founders
OTTAWA, ON- MARCH.15, 2021- Founders Fund, has announced a new partnership in its ongoing commitment to support underrepresented entrepreneurs throughout the COVID-19 pandemic by partnering with BDC, the bank for Canadian entrepreneurs, to bring much needed resources and support to woman founders within the Founders Fund community.
Women entrepreneurs have been hit the hardest in the pandemic with businesses more concreted in the service sector, increased domestic responsibilities and less access to capital. The impact of these factors have left the widening gap of gender equality in businesses even larger.
BDC is supporting Founders Fund in addressing this gap by committing resources, education and advisement to hundreds of underrepresented founders across all industries and demographics. Founders Fund provides barrier free grant funding, mentorship and education to women entrepreneurs across the country with over $120,000 provided in funding to date.
“BDC’s support will help us support a community of underserved founders that are vital to the economic recovery of the COVID-19 pandemic. This partnership comes at a crucial time of support for women in business and will have a deep impact on the founders in the Founders Fund community and beyond.” - Sheena Brady, founder of Founders Fund
The partnership between BDC and Founders Fund builds on both organizations commitment to supporting underrepresented founders through the pandemic and beyond.
BDC, the Business Development Bank of Canada is a financial institution devoted to Canadian entrepreneurs. BDC helps create and develop strong Canadian businesses through financing, advisory services and capital, with a focus on small and medium-sized enterprises.
In 2019, BDC signed the UN Women’s Empowerment Principles pledge and has dedicated $1.4-billion to majority women-led businesses to help them grow and expand. This includes a $200-million Women in Technology Venture Fund that supports high-growth, women-led technology companies and helps to create an ecosystem for women in tech and investment roles that does not exist today.
“Women represent enormous untapped potential and there is no limit to what they can accomplish. As investors, we need to run as fast as women entrepreneurs do. It is our job to help them unleash that potential.” -Michael Denham, BDC’s President and CEO
ABOUT FOUNDERS FUND
Founders Fund is a Canadian, digital growth accelerator supporting women-identifying founders. Founders Fund members & their extended community can access mentorship, resources, and barrie-free funding opportunities for their business.
With over 50% of members identifying as women of colour, including 38% identifying as newcomer, immigrant entrepreneurs, Founders Fund has a key focus and attention on building an inclusive community supporting diverse and intersectional under-represented entrepreneurs across the country.
To date, Founders Fund has distributed over $120,000 in barrier free grant funding while supporting over 500 women-identifying entrepreneurs to gain access to mentorship and resources for their business.