Evol receives nearly $10 million in financial assistance from CED to support women and men entrepreneurs in Quebec from diverse backgrounds.
QUÉBEC, March 8, 2023 /CNW/ - Canada Economic Development for Quebec Regions (CED)
Supporting inclusion, diversity, and sustainable development contributes to economic development in Quebec's regions. That is why the Honourable Pascale St–Onge, Minister of Sport and Minister responsible for CED, today announced two financial contributions totalling $9,475,800 for Evol to support women and men entrepreneurs from under–represented groups.
Evol specializes in funding and mentoring for diverse, inclusive businesses across Quebec. President and CEO Sévrine Labelle is a manager recognized for her unifying approach to leadership. Over the six last years, she has been able to contribute to the organization's development and success in order to support more women and men entrepreneurs across the province.
CED's assistance will be used to finance two projects. An initial non–repayable contribution of $4,475,800 will enable Evol to provide ongoing, personalized mentoring to businesses that have a diverse clientele, including women, and a sustainable development component. A second repayable contribution of $5,000,000 will be placed in an impact financing envelope to provide loans to women and men entrepreneurs from under-represented groups in Quebec's economy in order to foster their access to financing.
Women such as Sévrine Labelle play an instrumental role in the country's economic development. On International Women's Day, the Government of Canada wishes to showcase their leadership and know-how, which are essential in building a Canadian economy that is stronger, more resilient, and more inclusive.
"We continue to invest in our communities by taking into account their unique challenges and needs. This commitment comes, among other things, through an effort to improve economic prospects for traditionally under-represented groups in entrepreneurship, including women entrepreneurs. Through strategic, targeted investments such as those I am announcing today, we are fostering inclusion and diversity. I wish Evol great success in its projects. Finally, I thank Sévrine Labelle for her remarkable involvement in recent years and wish her all the best in her future projects."
The Honourable Pascale St–Onge, Member of Parliament for Brome–Missisquoi, Minister of Sport and Minister responsible for CED
"Thanks to our 25 years of experience, we have the conviction, at Evol, that guided funding is an excellent tool to help women and men entrepreneurs succeed. By contributing to these two aspects of our organization, CED is enabling us to support even more women and men entrepreneurs from very diverse backgrounds who have or wish to have a positive impact on society. Once again, the federal government is demonstrating that it shares with us this commitment to make our economy more inclusive, just, and sustainable."
Sévrine Labelle, President and CEO, Evol
- The funds have been granted under the Jobs and Growth Fund (JGF) and the Regional Economic Growth through Innovation (REGI) program. The JGF targets businesses and economic organizations to help them prepare local economies for long-term growth. It involves strategic investments in projects to reduce Canada's environmental impact and foster a green, resilient economy. The REGI program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
- In Quebec, SMEs account for 99.7% of the province's businesses and 50% of its GDP.
- CED is a key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
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SOURCE Canada Economic Development for Quebec Regions
Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Ariane Joazard-Bélizaire, Press Secretary, Office of the Minister of Sport and Minister responsible for Canada Economic Development for Quebec Regions, [email protected]
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