Movement51's Financial Feminism Investing Lab to inspire economic empowerment of women in Calgary
OCIF supports program for women-led investment in early-stage tech companies
CALGARY, AB, Dec. 15, 2021 /CNW/ - The Opportunity Calgary Investment Fund (OCIF) announced funding to Movement51, affiliate of The51, to grow its community of women-identifying investors and entrepreneurs in Calgary.
OCIF will provide up to $333,000 over two years to support the graduation of 165 Calgary-based women-identifying individuals through the Movement51's Financial Feminism Investing Lab (FFIL), offered in partnership with the University of Calgary's Haskayne School of Business.
The six-week virtual program includes an introduction to the startup ecosystem with a focus on early-stage investor education. The FFIL program aims to provide participants with the terminology, capability and confidence to activate their capital to drive innovation and advance the economy through a gender-aware lens.
The pilot cohort for the program launched in February 2021 and was supported in partnership with the Canadian Women's Foundation Investment Readiness Program, funded by the Government of Canada's Social Innovation and Social Finance Strategy.
Movement51 is a not-for-profit organization established by The51, which addresses financial feminism inequalities that affect women and gender-diverse people across Canada.
The51 was founded in Calgary in 2019 and provides democratized access to women-led capital for early-stage businesses. With the vision to create a new critical mass of women-identifying investors and make Calgary the centre for women-powered capital, the FFIL program is sector agnostic with expertise in diverse areas, including commerce, health tech, enterprise and consumer digital platforms, fintech, cleantech and agtech.
OCIF was launched by The City of Calgary in April 2018 to support investments that spur growth and create jobs in strategic sectors identified in the economic strategy Calgary in the New Economy. Movement51 is the 20th organization to be approved for funding.
Quotes:
"Movement51 is building the financial feminism movement. We are here to drive change for women-identifying and gender diverse individuals so they may continue to build the financial feminist economy. We're honoured that OCIF sees the significance in what we're doing with the Financial Feminism Investing Lab and we look forward to expanding the program with OCIF's championship."
Salima Shivji, Executive Director, Movement51
"As a company headquartered in Calgary, we know the incredible potential that exists to make this city a Financial Feminist Capital centre in Canada. The51 is thrilled OCIF has chosen to invest in Movement51 to diversify the investment and entrepreneurial ecosystem, ensuring the 51 per cent are fully participating in building the financial feminist economy."
Shelley Kuipers, Co-CEO, Chief Growth Officer, The51
"The seeds of our future success lie with the wealth of experience in women-led enterprises. Women comprise 51 per cent of our population but only receive 2.3 per cent of venture capital. Women's economic empowerment is key to our economic success, and we must fund and create policies that unlock this potential. I'm excited to see this needed investment being announced today. It is sure to contribute to the rising tide of women leading our economic recovery."
Calgary Mayor Jyoti Gondek, ex-officio OCIF Director
"Women investors and entrepreneurs have historically faced unfair barriers and it has cost our society immensely. Movement51's Financial Feminism Investing Lab activates the incredible potential of women-led capital to help accelerate diverse startups in Calgary and the OCIF Board is confident we will see real momentum in our city from this support."
Nancy Laird, Vice-Chair, Opportunity Calgary Investment Fund Board of Directors
"Movement51's programs recognize how integral women are to the recovery and growth of the economy and will help our city grow as an inclusive innovation hub and the destination of choice in Canada to solve the world's greatest challenges."
Brad Parry, Interim President & CEO, Calgary Economic Development
ABOUT OPPORTUNITY CALGARY INVESTMENT FUND
Opportunity Calgary Investment Fund was created as a wholly owned subsidiary of The City of Calgary in 2018 to support catalytic investments within the city to help diversify and transform the economy. The fund is administered by Calgary Economic Development and has a volunteer Board of Directors. For more information, visit our website.
For more information contact:
Media cell: 403 880 7040
Email: [email protected]
ABOUT MOVEMENT51
Movement51 is a not-for-profit organization established to address financial feminism inequalities that affect women-identifying and gender-diverse people across Canada. Specifically, Movement51 drives change in the areas of financial acumen, financial education and entrepreneurship and investing through a gendered lens.
ABOUT THE51
The51 is a Financial Feminist™ platform where investors, entrepreneurs and those who aspire to be, come together for democratized access to women-led capital for women-led businesses—to build mutual wealth and social/environmental impact, share knowledge and experiences, become influential investors, innovators and consumers, and build the Financial Feminist™ economy.
For more information contact:
Carina Ludgate, Marketing Lead, The51
Phone: 780-934-5995
Email: [email protected]
SOURCE Calgary Economic Development Ltd.
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