July 5, 2022. After less than a year with its new identity, Evol releases a report that offers a glimpse of a sustainable, prosperous future. Presented during its June 28 annual general meeting, the annual report is testimony to Evol’s value in Quebec’s entrepreneurial landscape.
“The past year was marked by the transformation of Femmessor to Evol and the mobilization of a new budget of $52.5 million, making it possible to offer impact financing and support to a broader entrepreneurial base,” said Sévrine Labelle, President and CEO of Evol. “As a result, our organization has the means to achieve its ambition to contribute to the evolution of our economy to make it more inclusive, equitable, and sustainable.”
In a year marked by a change in brand identity along with the expansion of its mission, Evol devoted over $5.7 million in financing to 77 business. These funds made it possible to create or maintain 1,471 jobs and generate $20.2 million in additional investment.
Working in entrepreneurship development for 25 years, Evol became a key reference for entrepreneurs from the 17 regions of Quebec. During the past year, the organization responded to 10,688 requests for information and held 3,924 exploratory meetings. With its wide-ranging service offer, it provided guidance to 2,859 entrepreneurs, including 1,217 who received individual, personalized support.
Renewed partnerships
In the past year, the Government of Québec also renewed its confidence in Evol by awarding it $23.4 million in funding over five years. As such, the Ministère de l’Économie et de l’Innovation is enabling Evol to offer ongoing, personalized support to more entrepreneurs in the 17 regions of Quebec. The Government of Canada, through Canada Economic Development and its Women Entrepreneurship Strategy, also continued its support to the organization.
Finally, Evol mobilized a funding envelope of $52.5 million to support businesses with diverse, inclusive ownership that want to have a positive impact in line with the UN’s 17 sustainable development goals. Of this amount — the largest the organization has ever mobilized — $25 million comes from a loan from the Government of Québec (through its agent Investissement Québec) and $27.5 million comes from private capital borrowed from the BDC, National Bank, Fonds de solidarité FTQ, and Fondaction.
“This was an incredible year for Evol,” said Cadleen Désir, Evol’s President of the Board of Directors. “Obviously, these achievements, along with realizing our purpose, would not have been possible without the unflagging support of our partners and the commitment of stakeholders, including board members, team members, our large community of engaged entrepreneurs, and our spokesperson Danièle Henkel.”
To consult the full annual report: evol.ca/en/press-room/
About Evol
Operating in Quebec’s 17 regions, Evol (formerly Femmessor) is an organization financially supported by the Ministère de l’Économie, de l’Innovation et de l’Énergie (MEIE) and the Government of Canada as part of its Women Entrepreneurship Strategy. Evol’s mission is to contribute directly to the creation, growth, and acquisition of diversified and inclusive businesses that have a positive impact on society.
Evol has a budget of over $52.5 million to offer financing that, combined with a personalized coaching experience and tailored complementary services, enables entrepreneurs to build sustainable, prosperous businesses.
Thanks to partnerships with the Government of Québec (with Investissement Québec as its agent), National Bank, the BDC, the Fonds de solidarité FTQ and Fondaction, Evol offers financing and support to businesses with diversified, inclusive ownership that have a positive impact in line with the UN’s sustainable development goals (SDG).
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Information:
Arnaud Berbery
1 844 523-7767, ext. 271
a.berbery@evol.ca
For more information about Evol
evol.ca
