Studies that look at the innovations driving decarbonization reveal that women-led enterprises – and especially small and medium-sized businesses – play an essential role in Canada’s move to net zero. Grengine’s energy storage solutions, for example, offer tools for shifting to renewable energy sourcesSupplied
When Connie Stacey realized she had an answer to ethical energy, she knew she had to start a business making the technology she developed. The result is Grengine, dedicated to engineering and manufacturing smart Li-ion batteries, smart battery management systems, and state-of-the-art battery energy storage solutions for individual, commercial and industrial customers.
Grengine innovations reduce energy use, cut greenhouse gas (GHG) emissions and save large energy users hundreds of thousands of dollars every year, and Ms. Stacey, the founder, describes the enterprise’s mission as “reducing greenhouse gas emissions and ending energy poverty, for good.”
Ms. Stacey, who holds a BA and a diploma in software programming and previously worked for more than 15 years in the IT/computer-programming sectors, views diverse talent as key to her success. She strongly supports other women entrepreneurs and those interested in making their business more sustainable in an affordable way.
Recently, she partnered with Toronto Metropolitan University’s Diversity Institute and the Future Skills Centre, which is funded by the Government of Canada’s Future Skills Program, to share her experience in scaling her business, including by leveraging skills development. “As a battery manufacturing company, we obviously have very technical staff, but team members must also have critical-thinking skills,” she says. “I have also found this very much a common factor in other startups. Diverse team members, such as women or Indigenous people, offer fresh eyes and solutions to problems that others may not have thought about.”
Wendy Cukier, founder of the Diversity Institute and the Women Entrepreneurship Knowledge Hub (WEKH) as well as a research lead for the Future Skills Centre, agrees with Ms. Stacey. “A closer look at the innovations driving decarbonization across Canada reveals that women-led enterprises – and especially small and medium-sized enterprises [SMEs] – play an essential role. However, the valuable contributions of women and other diverse entrepreneurs are often overlooked. If we want to unlock the full potential of inclusive sustainability, we have to first acknowledge the contributions of these ‘greenpreneurs’ – and then ensure they have access to adequate support.”
Connie Stacey"As a battery manufacturing company, we obviously have very technical staff, but team members must also have critical-thinking skills. I have also found this very much a common factor in other startups. Diverse team members, such as women or Indigenous people, offer fresh eyes and solutions to problems that others may not have thought about.
Founder, Grengine
The Women Entrepreneurship Knowledge Hub worked with Coralus (formerly SheEO) on research supported by the Future Skills Centre to explore strategies and processes to enable women entrepreneurs to advance sustainability on the path to net zero. Feedback from women entrepreneurs points to “a lack of information, knowledge, mentorship and supports for SMEs who want to greenify their operations,” she notes. “Those who do pursue the path of sustainable entrepreneurship are often forced to learn everything by themselves.”
Accordingly, Dr. Cukier advocates for promoting “training and support programs that go beyond technology skills – to focus on developing sustainable entrepreneurship. We already know what works through our research with WEKH and successful programs of the Future Skills Centre. Now is the time to scale up the support.”
This is reinforced by Prageet Nibber, who founded Rewatt Power in 2019. When she embarked on a quest to scale her business, she found it took considerable effort “to navigate the noise and feed the things that will actually move you forward.
“There are many accelerator opportunities in the entrepreneurial ecosystem for cleantech companies,” she says, “but this can make it hard to choose which ones are most aligned with your business.”
Ms. Nibber created processes and tools to help organizations transition to low-carbon operations. Her climate accounting software solution aims to help companies quantify and measure their carbon emissions and monetize carbon credits. Rewatt supports renewable electrification projects, from residential to utility scale, for a wide variety of customers and sectors.
In addition to helping partners reduce their carbon emissions, Rewatt is also looking closely at its own environmental impact, prioritizing low-emissions infrastructure and minimizing corporate travel, Ms. Nibber explains. “Our internal efforts complement our external impact and help us reach our net-zero goal.”
This dedication to achieving better outcomes – across economic, social and environmental parameters – is something many female-led SMEs have in common, says Dr. Cukier. “Research from the Women Entrepreneurship Knowledge Hub and BMO shows that women entrepreneurs are actively driving sustainable development and transformation in Canada and the U.S.”
Furthermore, evidence from Coralus demonstrates that investing in women-led businesses achieves economic impacts that match or exceed other investments in terms of revenue generation, job creation and exports while also advancing the UN Sustainable Development Goals.
“We need to replicate and scale what we know works. We need to ensure that women and Indigenous entrepreneurs have access to financing, supports and programs that will help them build their sustainable businesses and drive us forward in the journey towards a low-carbon economy,” Dr. Cukier adds.
Advertising feature produced by Randall Anthony Communications. The Globe’s editorial department was not involved.