Food Starter, a startup food incubator and accelerator in Toronto, and Fiera Foods, a globally successful Canadian food manufacturer, have announced the launch of The Women in Food Rise Up Fund.
The three-year startup growth fund, Rise Up, presented by Fiera Foods, will provide Food Starter’s women-led enterprises with access to a grant of $5,000 to quickly start and scale food businesses. The fund aims to recognize that women entrepreneurs play a leading role in innovating Ontario’s food industry.
“We see day in and day out through our interactions with partners, employees and clients, that women can lead and excel in our industry,” said Boris Serebryany, President and CEO of Fiera Foods Company.
“The concerning reality is that women are still underrepresented in food manufacturing. We’re proud to work toward a solution by partnering with Food Starter to remove barriers, creating a more open and inclusive environment for female entrepreneurs and innovators in Ontario’s food industry.”
Grant recipients will receive a cheque for $3,500 within two weeks of announcement plus $1,500 in Food Starter production hours or accelerator fee credits. The grant will be used for purchasing new equipment, supplies or ingredients required to fill orders, production labour and marketing expenses.
Although women entrepreneurs in Canada now represent 47 percent of Canadian business owners and contribute $148 billion in economic activity, they continuously face barriers to accessing capital to start and scale their businesses. Women newcomers face additional hurdles.
“We strongly believe in working to create more equitable playing field for women and in particular women newcomer entrepreneurs. It benefits us all creating jobs, advancing equity, and building resilient communities” said Petra Kassun-Mutch, Executive Director, Food Starter.
To qualify, ventures must be 51% women-owned and women-led, revenue-positive, an active hourly or accelerator 2018 Food Starter client and a registered for profit, social enterprise. Preference will be given to newcomer and women-led ventures. A review team consisting of Food Starter and Fiera Foods representatives will review applications.
“We will continue to educate the food and beverage business community about the need for funds for women-led enterprises,” said Petra Kassun-Mutch.
Applications for the Rise Fund are now available online and due on August 13, 2018.
Source: Food Starter