The federal government has announced almost $10 million for Atlantic Canadian companies led by women, or organizations in the region advancing women’s entrepreneurship.
On Monday, Mary Ng, Minister of Small Business and Export Promotion, was in Fredericton to announce the funding, which comes from the government’s $2 billion Women Entrepreneurship Strategy. The funding includes direct grants for businesses and funding to support organizations that promote female-led businesses.
“Our government believes that women’s economic empowerment is not just the right thing to do; it’s good for the bottom line,” said Ng in a statement. “That’s why we launched the Women Entrepreneurship Strategy, a strategy that seeks to double the number of women-owned businesses by increasing their access to financing, networks and advice.”
The following women-owned or -led businesses will each receive up to $100,000 through the Women Entrepreneurship Fund to help them grow their ventures and reach new export markets: Another 25 successful WES Ecosystem Fund and Women Entrepreneurship Fund recipients in the region were also recognized.
- Fredericton-based SomaDetect, which will conduct marketing activities to promote its in-line sensor technology for detecting disease in cows;
- iTacit, based in Fredericton, which will develop an integrated digital marketing program to reach, attract, and generate demand in new export markets;
- Edmundston Truck Stop, located in Edmundston, which will open a second location in Moncton;
- South Ridge Maple Co. Ltd., located in Knowlesville, which will partner with the Woodstock First Nation to collect sap and create maple products, while also developing strategic sales and marketing export plans;
- And Moncton-based MASITEK Instruments, which will develop a strategic partnership with a large-scale packaging equipment and supplies organization to expand the company’s export activities.
Read about SomaDetect's recent US$2M funding round
In addition, Ng announced Moncton-based Conseil économique du Nouveau-Brunswick as a WES Ecosystem Fund recipient. It will receive $1.2 million to develop an entrepreneurship support program for women from francophone communities. The project will prioritize women entrepreneurs in sectors where women are traditionally under-represented and will offer a range of tools while maximizing resources already provided by different partners in the ecosystem process.
