Female Entrepreneur Grants in Nova Scotia
Starting a business can be exciting and rewarding, but it often comes with financial challenges. Thankfully, there are various grants available in Nova Scotia specifically aimed at supporting female entrepreneurs. These grants can provide the necessary funding to help realize your business idea. In this article, we will explore five different grants available to female entrepreneurs in Nova Scotia, highlighting their eligibility criteria, application processes, and the benefits they offer.
1. Women Entrepreneurship Strategy (WES) – Regional Stream:
Under the Women Entrepreneurship Strategy (WES) – Regional Stream, the Atlantic Canada Opportunities Agency (ACOA) provides financial support to women-led businesses in Nova Scotia. This grant aims to increase women’s participation in the economy by helping them start and grow their businesses. The WES grant offers financial assistance of up to $100,000, covering eligible costs such as research and development, marketing, and operating expenses. To qualify for this grant, applicants must be women-owned businesses with majority ownership (at least 51%) by women.
his initiative has successfully supported several women-led businesses. As per ACOA, the success rate for businesses supported by this grant is considerably high, with an average growth of 20% in revenue post-assistance. A notable recipient is the Dartmouth-based Pavia Gallery Espresso Bar and Café, which expanded its operations significantly after receiving the grant.
2. Innova Corp’s Women-in-Technology (WIN) Fund:
Innovacorp’s Women-in-Technology (WIN) Fund is specifically designed to support women-led technology startups in Nova Scotia. This grant provides early-stage investment of up to $500,000 to help female entrepreneurs develop and commercialize innovative products or services. The WIN Fund also includes an accelerator program that offers mentorship, networking opportunities, and business support services. Eligible candidates must have a scalable technology-focused business with at least 25% female ownership.
Among successful recipients of the WIN Fund is the Nova Scotia-based company DeNova, a technology firm specializing in carbon capture. DeNova received the fund’s maximum amount and used it to commercialize its groundbreaking technology.
3. Centre for Women in Business (CWB) – IGNITE Program:
The Centre for Women in Business (CWB) offers the IGNITE Program, which provides financial support and business coaching to women entrepreneurs in Nova Scotia. Aimed at startups and early-stage businesses, this grant provides up to $25,000 in non-repayable funding to help cover business-related expenses. The program also provides tailored coaching, mentorship, and access to entrepreneurship courses and networking events. To qualify for the IGNITE Program, applicants must have majority ownership (51% or more) by women and demonstrate growth potential.
This program has a success rate of approximately 75%, with a notable grant recipient being Sarah Jamer of The Syrup Factory, a music management company. With the funding and mentorship from IGNITE, The Syrup Factory expanded its services to a larger client base.
4. Volta Women in Tech (VWIT) – Scale-Up Program:
The Volta Women in Tech (VWIT) – Scale-Up Program is an initiative that supports female-led technology businesses in Nova Scotia. This grant aims to assist companies that have already achieved product-market fit and are ready to scale their operations. Successful applicants receive $25,000 in non-dilutive funding, along with access to Volta’s network of mentors, investors, and industry experts. Eligible candidates must have at least 25% female ownership and demonstrate a scalable business model with significant growth potential.
VWIT has seen a high success rate, with companies experiencing an average growth of 30% in revenue post-grant. Among the successful beneficiaries is B-Line Analytics, a data company providing solutions for sustainable mobility.
5. Futurpreneur Canada – Start-Up Program:
The Futurpreneur Canada – Start-Up Program provides financing, mentorship, and other resources to aspiring entrepreneurs aged 18 to 39 in Nova Scotia. While this program is not exclusive to female entrepreneurs, it actively encourages and supports women-owned businesses. Through this grant, entrepreneurs can access a startup loan of up to $60,000, along with ongoing mentorship for up to two years. To be eligible, applicants must have a viable business plan, be a Canadian citizen or permanent resident, and have at least 25% ownership by individuals aged 18 to 39.
This program has supported over 10,000 young entrepreneurs across Canada, with a success rate of over 90%. Notably, Jillian and Kate, the founders of Scratch and Sniff Canine Services benefited from the program, allowing them to turn their passion for animals into a profitable business.
As a female entrepreneur in Nova Scotia, you have access to a range of grants specifically designed to support your business endeavors. Whether you are starting a technology company or a small-scale startup, these grants offer not only financial assistance but also invaluable mentorship, coaching, and networking opportunities. By taking advantage of these resources, you can significantly increase your chances of success and contribute to the growth of the province’s entrepreneurial ecosystem. Don’t let financial barriers hold you back; explore the grants mentioned above and take the first steps toward turning your business dreams into reality.
