TruShield Insurance and Startup Canada invest in the development of Canada’s retail sector
Toronto, O.N. December 14, 2015 | Saskatoon Maker Fair and Toronto’s Tempo Space are the first-ever recipients of the Trushield Insurance Retail Startup Fund presented by TruShield Insurance and Startup Canada.
The fund launched in September 2015 and invests in high-impact projects that fuel the growth of Canada’s retail sector. Funding was awarded based on the ability of the projects to provide startups and small businesses with support and opportunities to better compete with the top 30 companies that account for 66 per cent of sales in the sector.
“Canada’s startup community goes beyond tech and includes a vibrant retail sector that has transformed significantly with the explosion of e-commerce and social media,” said Victoria Lennox, CEO of Startup Canada. “Retail entrepreneurs are leveraging technology, innovating, and setting their sights on local sustainability and global growth. The Saskatoon Maker Fair and Tempo Space are excellent initiatives to remove barriers and increase opportunities for retailers to test the market.”
“At TruShield Insurance we are excited to be supporting new small businesses,” said Tony O’Brien, Senior Vice President of Small Business at TruShield Insurance. “The Retail Startup Fund has given us the opportunity to not only support startups with funding, but has also allowed us to meet and connect with so many Canadian entrepreneurs. The level of talent and innovation in the startup retail sector is incredible.”
The Saskatoon Maker Fair is an initiative of Startup Saskatoon, which will launch in 2016 and raise awareness, excitement and sales for new local businesses. More than a market or pop-up shop, the Saskatoon Maker Fair is designed to be interactive for people of all ages with a behind-the-scenes look at the production process.
“We are delighted to be awarded the TruShield Retail Startup Fund,” said Stephanie Yong, Community Lead at Startup Saskatoon. “This is a great opportunity for our community to bring together local entrepreneurs and showcase the talents of our creative makers. We look forward to holding a dynamic event that will bring out the public to view, interact and get a chance to experience our local talent.”
Tempo Space is a Toronto-based online marketplace connecting space owners with space seekers. The platform aims to lower entry barriers to retail marketplaces for entrepreneurs, DIY-ers, artists and musicians by connecting people with a simple and secure platform to find space that meets their needs. The platform plans to expand across Canada and in global markets.
“We are very excited to receive this grant made possible by the TruShield Retail Startup Fund,” said Dan Hadad, CEO of Tempo Space. “At Tempo Space we encourage space owners to rethink and maximize their spaces creating a pool of spaces that are accessible, creative and affordable for entrepreneurs.”
The announcement was made at Startup Canada’s 2015 #EveryEntrepreneur Tour Finale in Toronto. The national, non-profit organization travelled the country this fall to provide new opportunities to thousands of Canadian entrepreneurs as they start and grow their companies and to provide a platform for entrepreneurs to voice needs and calls-to-action to better the environment for entrepreneur-run businesses.
At the #EveryEntrepreneur Tour Finale, the organization also announced recipients of the Startup Canada Startup Space Fund, the Startup Canada Community Investment Fund, and the Startup Canada Women Entrepreneurship Fund.
For more information or to schedule interviews, please contact:
Kathryn Forrest
Communications & Marketing Manager, Startup Canada
1-844-782-7801 ext. 106
press@startupcan.ca
About Startup Canada
Startup Canada is a grassroots network of more than 125,000 entrepreneurs and more than 500 like-minded organizations that support entrepreneurs and small businesses as the voice of Canada’s startup community. Learn more at startupcan.ca.