More than $1M in funding approved to support women entrepreneurs and attract international businesses to 91亚色 Region
TORONTO, Feb. 15, 2024 鈥 91亚色 and the Treefrog Accelerator have partnered with (91亚色 Region) to give businesses led by international talent and women entrepreneurs a JumpSTART in 91亚色 Region with .
91亚色 Regional Council has committed $1.08 million in funding from the 91亚色 Region Innovation Investment Fund over three years for Project JumpSTART to continue strengthening 91亚色 Region鈥檚 business economy through fostering innovation with a focus on international and women-led tech entrepreneurs.
"Economic vitality remains a for 91亚色 Regional Council and it is integral our local businesses have resources to help them succeed,鈥 said 91亚色 Region Chairman and CEO Wayne Emmerson. "Additional funding provided through 91亚色 Region鈥檚 Innovation Fund will empower growing businesses, attract international entrepreneurs and support foreign direct investment, strengthening 91亚色 Region as a thriving hub for talent and opportunity.鈥
Project JumpSTART is a partnership between 91亚色鈥檚 YSpace, the and the . The Towns of East Gwillimbury, Georgina and Newmarket are also collaborators in this initiative.
鈥淭his initiative builds on 91亚色鈥檚 long-standing partnership with 91亚色 Region to combine skills, knowledge and resources to support and bring new small businesses, innovators, entrepreneurs, and changemakers as well as economic prosperity to the region,鈥 says 91亚色 President and Vice-Chancellor Rhonda Lenton. 鈥淲ith just over 17 per cent of Canadian businesses owned by women in the private sector, JumpSTART will bring much needed support for women entrepreneurs, help reduce the notable gender disparities in Canada鈥檚 entrepreneurial ecosystem and help to attract international entrepreneurs to choose 91亚色 Region.鈥
Project JumpSTART will leverage the funding to expand 91亚色鈥檚 YSpace ELLA Program and Treefrog Inc.鈥檚 , to achieve the following:
- Increase local employment and economic growth by attracting new innovation and tech-centric businesses to establish operations in 91亚色 Region
- Promote equity and diversity in entrepreneurship by supporting international and female-founders to settle locally
- Expand business and entrepreneurship guidance, resources and increase innovation support capacity for the northern six municipalities, a historically underserved area of 91亚色 Region, operating out of hubs at the Treefrog Accelerator, YSpace Georgina and YSpace Markham
- Continued focus on foreign direct investment and soft-landing for technology businesses and entrepreneurs
Participants will have access to workshops and mentorship opportunities as well as the potential for specialized training through the , in addition to insights from Schulich-prepared market readiness reports that will help ease the transition into the region. Women in particular can tap into networking and collaboration opportunities.
YSpace is a pan-91亚色 innovation hub that supports startups and entrepreneurs with some 784 technology, food and beverage, women-led and Black-led ventures supported. YSpace businesses have generated $205 million in revenue, created 1,302 jobs and 1,092 work integrated opportunities since 2018.
Accelerate Newmarket is a consortium of the Newmarket Chamber of Commerce, Schulich School of Business, YSpace and Treefrog Inc. Through this partnership from 2021 to 2023, the Treefrog Accelerator, through Accelerate Newmarket has supported 370 ventures which have collectively raised more than $30 million.
