Canada’s RadicalGenerosity funding model gears up for global expansion, by Denise Deveau, Financial Post

Read the full story at the Financial Post.

Vicki Saunders, founder of SheEO, wants the RadicalGenerosity program to be in 1,000 cities, loaning $1 billion a year, by 2020. (Ben Nelms/National Post)

40% Growth

A homegrown funding program, which helped five female entrepreneurs achieve about 30 per cent revenue growth in its first year, was so successful the initiative is doubling its size in Canada and being rolled out internationally.

Vancouver-based Sonia Strobel, managing director of Skipper Otto’s Community Supported Fishery, said the RadicalGenerosity program made a huge difference to her business and boosted her customer base by 40 per cent.

Strobel was one of the first five female entrepreneurs to take part in the program last year. Her company connects local fishers with consumers who purchase shares in sustainably caught seafood before the season begins.

Not only did the funding help her expand the customer base, it also made it possible for her to invest in a processing plant to better control the quality and volumes within the supply chain. And it exposed her to the power of having an expanded business network.

“SheEO has been a big game changer,” she said. “I have gotten some really powerful, high quality coaching that helped me learn my strengths and come into my role as an executive.”

“This is not just about the money,” Strobel said. “It’s about collaboration, where every woman executive wants to see others succeed.”

That potential has led to Saunders getting requests from people in 100 cities worldwide who want to replicate the funding model.”

 

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