Seneca is helping more business-minded women and individuals from equity-seeking groups achieve their entrepreneurial goals through a new initiative called HELIX RISE.
HELIX RISE marks the next phase of growth for HELIX, Seneca's on-campus innovation and entrepreneurship incubator. It has been made possible through a donation of $300,000 over four years from Scotiabank, one of HELIX's longstanding partners, to provide more timely and targeted support for women and individuals from equity-seeking groups.
"Women make up only 28 per cent of all entrepreneurs in Canada, and we want to provide additional key supports and knowledge to help them develop their dreams," said Chris Dudley, Director Entrepreneurship, Seneca Innovation. "By helping women and equity-seeking entrepreneurs, we will create more inclusive and resilient communities."
HELIX RISE is inspired by ScotiaRISE, Scotiabank's 10-year, $500-million commitment to foster economic inclusion and resiliency among disadvantaged groups.
"Seneca's goals to support women and equity-seeking entrepreneurs align with Scotiabank's goals," Mr. Dudley added. "There is tremendous synergy."
Sandra Odendahl is Vice-President of Social Impact & Sustainability at Scotiabank, which also recently contributed $5,000 for financial aid to Indigenous students at Seneca.
"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."
"By helping women and equity-seeking entrepreneurs, we will create more inclusive and resilient communities." Chris Dudley
HELIX RISE will contribute to the Seneca Au Large mandate to build the equitable and more virtual Seneca. It will develop and bolster existing core programming both in-person and online with a goal of increasing the number of female HELIXers to at least 50 per cent in four years.
Currently, women account for 35 per cent of HELIX's overall participants. 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 HELIX 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 equity-seeking groups to at least 50 per cent.
With this investment from Scotiabank, Mr. Dudley says HELIX will be able to develop additional supports for female and equity-seeking entrepreneurs, such as targeted mentoring, peer groups and workshops.
"We know that simply creating additional programming is not enough," he said. "Every class, workshop, event, coach, mentor, speaker and facilitator must reflect and welcome our whole community."
