Sept. 23, 2021

A Seneca initiative to “rise up” is aiming to help more women and individuals from marginalized groups achieve their entrepreneurial goals.

“Numerous studies show that women-led companies tend to perform better than those led by men,” said Chris Dudley, Director Entrepreneurship, Seneca Innovation.

With women making up only 28 per cent of all entrepreneurs in Canada, “we want to provide additional key supports and knowledge to help them develop their dreams,” Mr. Dudley added. “We want to build up a network for them to launch ventures. By helping them rise up, we will create more inclusive and resilient communities.”

To do so, HELIX, Seneca’s on-campus innovation and entrepreneurship incubator, is launching its next phase of growth with a donation of $300,000 over four years from Scotiabank, one of its longstanding partners.

Inspired by ScotiaRISE — Scotiabank’s 10-year, $500-million commitment to foster economic inclusion and resiliency among disadvantaged groups — HELIX RISE will work to provide more critical, targeted support for women and individuals from marginalized groups.

“Our goals to support women and visible minorities align with Scotiabank’s goals,” Mr. Dudley said. “There is tremendous synergy.”

Sandra Odendahl is Vice-President of Social Impact & Sustainability at Scotiabank.

“We are proud to contribute to the next phase of Seneca’s HELIX program,” she said. “HELIX is an important initiative dedicated to helping entrepreneurs get the support they need to bring their visions to life. Through ScotiaRISE, we are committed to helping increase access to opportunities that lead to greater participation in the economy.”

HELIX RISE will follow the Seneca Au Large mandate to build the more equitable and virtual Seneca. It will develop and bolster existing core programming — both in person and online — to increase the number of female HELIXers to at least 50 per cent in four years.

Currently, women participants account for 35 per cent of HELIX’s overall numbers. According to a 2020 Ontario Chamber of Commerce report, closing the gender gap in entrepreneurship could add up to $81 billion to Canada’s gross domestic product.

For Sheri Burke, an author, teacher and entrepreneur who has participated in the HELIX Summer Institute and multiple Career Recharge sessions, women-exclusive events and resources can go a long way in helping female entrepreneurs succeed.

“The overall encouragement is important,” said Ms. Burke, who recently pivoted to pursuing a career in entrepreneurship after attending a Career Recharge workshop on developing venture ideas during the pandemic. “It’s very important that women can support other women entrepreneurs.”

HELIX RISE also aims to increase the participation of marginalized HELIXers to at least 60 per cent and the number of HELIX coaches, mentors and facilitators who identify as women or from marginalized groups to at least 50 per cent.

With the investment from Scotiabank, Mr. Dudley says HELIX will be able to carry out recommendations from the HELIX subcommittee and focus on developing additional supports for female and visible minority entrepreneurs.

“These committees will guide the evolution of our program for our next phase,” he said. “We know that simply creating additional programming is not enough. Every class, workshop, event, coach, mentor, speaker and facilitator must reflect and welcome our whole community.”