The federal government will announce Wednesday a $50-million commitment to finance women-led tech startups, part of an effort to address a chronic funding gap facing female entrepreneurs.
Small Business and Tourism Minister Bardish Chagger will announce at a government-organized women’s entrepreneurship conference in Toronto that Business Development Bank of Canada’s private capital arm will create a $40-million funding program to invest venture and growth capital in tech businesses led or majority-owned by women. The Crown corporation will allocate another $10-million to initiatives including the MaRS Investment Accelerator Fund that provide early-stage funding to women founders.
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