The Call for Expressions of Interest is now open and accepting applications for all three streams. It further expands this commitment through an Inclusive Growth Framework that will apply to all renewed VCCI streams and requires all applicants to collect gender and diversity metrics, as well as implement policies and practices that promote DEI principles internally, in building their portfolios and in the broader VC ecosystem. The renewed VCCI goes further by introducing an inclusive growth stream to support access to VC for traditionally underrepresented groups, particularly women and racialized communities. The VCCI introduced in Budget 2017 included a strong focus on supporting gender balance. The renewed VCCI follows on a tradition of demonstrating global leadership in DEI in VC. According to recent research from the CVCA and Diversio, traditionally underrepresented groups face challenges in the VC industry: they make up a minority of the investors, and entrepreneurs from these demographic groups are less likely to seek equity financing and when they do, they are more likely to be turned down or to receive relatively less money for their businesses. The Government of Canada is committed to advancing diversity, equity, and inclusion (DEI) to encourage the Canadian VC industry to be representative of the Canadian population. Diversity, equity, and inclusion in Canadian venture capital Interested candidates are encouraged to apply. In addition, the Government will establish a private sector Selection Committee to evaluate incoming proposals and provide recommendations to the Deputy Minister of Innovation, Science and Economic Development Canada (ISED) on which applicants to select for the renewed VCCI.
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