LEAP announces call for applications for The Equity Opportunity: Advancing Women’s Economic Well-Being

The new program takes a collaborative, scalable approach to addressing women’s economic empowerment.

As published on EIN Press Wire. 

Toronto, August 17, 2022—LEAP | Pecaut Centre for Social Impact (LEAP) today announced the call for applications for its next initiative, The Equity Opportunity: Advancing Women’s Economic Well-Being. The Equity Opportunity will build a more equitable and resilient future for women in Canada, most notably women from equity-deserving communities.

The Equity Opportunity was conceived by a passionate and influential group of women leaders who recognized that the unprecedented economic setbacks women encountered during the pandemic amplified existing long-standing inequities. This group of champions came together to make a significant difference on the issue, sharing a vision for a more equitable and inclusive economy– especially for women experiencing poverty and other barriers to economic stability.

“We believe that a return to the pre-pandemic status quo is not enough,” said Joan Dea, Board Chair of LEAP, and Chair of The Equity Opportunity. “As business leaders, we have the opportunity to make a difference in the lives of women in Canada by breaking the long-standing barriers that prevent them from achieving full participation in the economy. We are excited to embark on this journey to change the lives of women in Canada.”

LEAP will select up to 10 high-impact social ventures for The Equity Opportunity, and over the course of five years will help them scale by providing them with funding, in-depth strategic and operational support, coaching and pro bono professional services from LEAP’s sector partners. Based on LEAP’s track record, it is anticipated that each social venture will grow between 4x and 10x. The Equity Opportunity will transform societal and institutional norms, strengthen the social sector and empower women personally and as a collective, which will ultimately lead to systemic change.

To date, The Equity Opportunity has attracted financial support from a number of individual philanthropists and corporations, including BMO Financial Group, Manulife, RBC Foundation, Scotiabank, and TD Bank Group. LEAP and its champions continue to fundraise to support this critical initiative.

Advancing women’s economic equity is an urgent need

An in-depth report entitled Advancing Women’s Economic Well-Being, published by LEAP, informs the investment thesis of this new Initiative. The report suggests that enabling economic independence for women is one of the highest value investments we can make as a society. It demonstrates that women’s financial security is an issue that goes far beyond economics, and defines well-being as the ability to meet basic needs – such as housing, food, and transportation. It also provides a roadmap for collaboration across government, private and social sectors to advance women’s economic well-being and create a more inclusive economy.

Women from equity-deserving groups – including those who are racialized, Indigenous, immigrants, low-income, disabled, lone parents, and people in the LGBTQ2+ community – experience additional barriers to economic well-being. During the selection process, The Equity Opportunity will prioritize social ventures working with these groups, resulting in direct positive outcomes on the personal stability, financial security, and economic futures of the most underserved women in Canada.

“We are excited to announce that applications are now open for our next Initiative, The Equity Opportunity, '' said Dr. Lorna Read, Managing Director, LEAP. “We will invest in organizations that help women from equity-deserving communities to overcome the barriers to their full participation in the economy. By leveraging the power of collaboration inherent in our venture philanthropy approach, we will build a web of support for the social ventures to help them scale their impact.”

Applications will be accepted starting today and until September 6 on LEAP’s website, which also provides further information on the criteria and intake process for social ventures interested in joining The Equity Opportunity.

About LEAP | Pecaut Centre for Social Impact

LEAP | Pecaut Centre for Social Impact (LEAP) believes in a society where everyone has the opportunity to reach their full potential. We catalyze large scale social impact by selecting, supporting and scaling breakthrough social ventures and unleashing the potential of collaboration. We achieve collective impact by working across issue-focused cohorts and with our sector partners, all business leaders in their respective industries: Boston Consulting Group, EY LLP, McCarthy Tétrault LLP, Hill+Knowlton Strategies Canada, Marts & Lundy, and Google.org. To date, over two million Canadian lives have been improved in every province and territory.