The National Angel Capital Organization (NACO) today announced the launch of the National Women’s Initiative, a groundbreaking series of projects that will leverage a national network of partner organizations to provide support and education to women entrepreneurs across Canada.
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(left to right): Claudio Rojas, CEO (National Angel Capital Organization), Shannon Pestun (Entrepreneur), Paulina Cameron, CEO (The Forum), Melodie Gingras (The Forum), The Honourable Rechie Valdez (Minister of Small Business), and Sabine Soumare, Executive Director (Women Entrepreneurship Knowledge Hub) at TSX Open celebrating Women’s Entrepreneurship Day. (Photo: Business Wire)
The National Women’s Initiative is funded by the Government of Canada through the Inclusive Women’s Venture Capital Initiative, a key part of Canada’s first-ever Women Entrepreneurship Strategy.
Through its partnerships with established organizations dedicated to women’s entrepreneurship, investing and business, NACO will support a variety of projects, including a series of cross-country roundtables where women investors and entrepreneurs will have the opportunity to connect, share challenges, and identify opportunities. The initiative will also provide a platform for educational materials designed to empower women entrepreneurs and investors with the know-how to succeed, as well as share investor and entrepreneur stories to amplify and inspire women in the ecosystem.
The launch of the National Women’s Initiative further solidifies the critical role of NACO as a platform for cross-Canada connectivity, the advancement of best practices and education, and increased access to capital for entrepreneurs through the activation of angel investors in the ecosystem.
According to NACO’s 2023 report, women now constitute 37% of Canada’s angel community, marking a 50% increase from previous years. However, women and diverse entrepreneurs still encounter hurdles in building successful ventures in Canada due to systemic bias, limited access to critical networks, and low representation in the investment community. The National Women’s Initiative, powered by NACO, is launching new programs to combat these challenges and enhance capital and opportunities for women entrepreneurs nationwide.
“Supporting women in business isn’t just the right thing to do—it’s the smart thing to do to support our economy. The launch of the National Women’s Initiative is great news for women entrepreneurs and is yet another step our Government is taking to support women-owned businesses from coast to coast to coast,” said the Honourable Rechie Valdez, Minister of Small Business. “Through Canada’s first-ever Women Entrepreneurship Strategy—and partners like the National Angel Capital Organization—our government is delivering real support for tens of thousands of women-owned small businesses that will help build a stronger, more inclusive economy and create good middle-class jobs for all Canadians.”
“NACO’s vision is that of a platform — one dedicated to national connectivity, the advancement of best practices, education, the expansion of capital accessibility, and the mobilization of more women angel entrepreneurs and investors into the ecosystem,” said Claudio Rojas, CEO of NACO. “The National Women’s Initiative will serve as an unprecedented effort within the Canadian angel investment landscape, and one that we believe will truly make a difference in the lives and professional success of women entrepreneurs across all regions of Canada.”
“We believe in the power of diversity and the limitless potential of entrepreneurs in Canada. There are so many visionary women founders making remarkable contributions to their industries, markets and communities. NACO’s commitment to providing these leaders with the additional support they need will only accelerate their impact,” said Sonya Shorey, Interim President and CEO of Invest Ottawa. “Invest Ottawa is proud to be part of this ecosystem and a partner in NACO’s National Women’s Initiative. By supporting women in business, we’re not simply driving growth. Together, we are creating a more competitive and inclusive entrepreneurship ecosystem, economy and Canada.”
About NACO
NACO members have invested $1.54 billion into more than 2,000 Canadian companies. Incorporated in 2002, NACO is Canada’s professional association for angel investors and the national umbrella for over 100 organizations including angel groups, venture funds, incubators and accelerators.
Angel investors are individuals or funds that put their capital at risk in the early-stage ecosystem. This includes, but is not limited to, individual Limited Partners (LPs) that invest passively or semi-actively in funds or venture funds, family offices that invest in pre-seed and seed stage companies, and individuals that invest directly into early-stage companies on their own or with the support of an angel group.
Angel-backed companies that went on to achieve successful outcomes include Slack and Thinkific in BC; Verafin in Newfoundland and Labrador; WealthSimple and ApplyBoard in Ontario; Paper in Quebec; SkipTheDishes in Saskatoon; and Jobber and Neo Financial in Alberta. Angel investment fuels the pipeline of companies that grow to raise venture capital and scale into the global success stories of the future.
To learn more about the National Women’s Initiative, go to: https://nacocanada.com/womensinitiative.
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