Vancouver, BC, Feb. 21, 2020 (GLOBE NEWSWIRE) -- The Forum for Women Entrepreneurs (FWE) congratulates Lynn Dargis, CEO of Farmbucks Inc., who was awarded the $25,000 grand prize at FWE’s Pitch for the Purse Finale during the Odlum Brown FWE Gala at the Fairmont Hotel Vancouver on February 20, 2020.
Farmbucks is an app and website that centralizes, sorts and displays real-time grain bids for farmers so that they are able to identify and make profitable decisions quickly and efficiently.
“The Pitch for the Purse has been pivotal to my business and the Finale is an incredible celebration of all the support, mentorship and coaching over the past few months,” said Lynn Dargis, Farmbucks. “I’m extremely grateful for the education and connections throughout this program and I’m looking forward to continuing with FWE as I grow my business.”
Three finalists Taran and Bunny Ghatrora, Blume; Lynn Dargis, Farmbucks Inc.; and Kate Swanson, Ensembl, presented compelling 3-minute pitches to expert judges Tracey McVicar, partner, CAI Capital Partners and Charles Chang, founder of Lyra Growth Partners and Vega before a live vote from the 750+ audience members selected the winner.
The FWE Pitch for the Purse program is divided into four sections designed to educate and mentor every step of the way: Pitch Training, Semi-Finals, Mentorship + Pitch Finale.
Blume, Farmbucks and Ensembl were among 14 companies selected from 200+ applications from across Canada to present their pitches at semi-final events in Toronto and Vancouver last November. To prepare for their live pitches at the Finale, the three chosen finalists received six weeks of coaching and mentorship from investment leaders Abigail Slater, General Partner at Marigold Capital, Brian Paes-Braga, Principal, Head of Merchant Banking at SAF Group, Manny Padda, Founder & Managing Director of New Avenue Capital, and Richard Jaffray, President & Founder of Cactus Club Cafe.
“Women entrepreneurs need access to smart capital as only six percent of venture capital goes to women in Canada,” explained Paulina Cameron, CEO of FWE. “FWE created the Pitch for the Purse to bring together recognized experts and community leaders to mentor women entrepreneurs, teach them how to pitch investors as well as provide exposure for their businesses and make valuable connections with potential investors.”
Since launching four years ago, Pitch for the Purse participants have:
- raised cumulatively close to $20 million
- created 204 new jobs
- and grown their annualized revenue by $67 million
The Pitch for the Purse Finale is hosted during The Odlum Brown Forum for Women Entrepreneurs Gala, co-chaired by Christina Anthony, VP & Director Portfolio Manager, Odlum Brown (FWE Founder & Chair Emeritus) and Lara Dauphinee, Managing Director, Fiore Group. Now in its 18th year, the Odlum Brown FWE Gala has become Vancouver’s annual Event of the Year for celebrating women’s entrepreneurial successes and raising much needed funds in support of educational programming for women entrepreneurs.
“The Gala raised over $875,000 which will go to women entrepreneur educational programs,” said Christina Anthony. “Each year we are amazed by the overwhelming support from business leaders in our community and our alumni who give back to the organization because they believe they wouldn’t be where they are today without the help from FWE. It truly has grown into an empowering and supportive community.”
“We are proud to be leading the way with FWE’s innovative and transformative work, and this year’s Gala is another trailblazing milestone being the Fairmont Hotel’s first large banquet event in Canada to serve an entirely plant-based dinner menu,” added Lara Dauphinee.
The multi-course menu was created by Fairmont executive chef Colin Burslem and featured a selection of plant-based dishes including a refreshing radish carpaccio starter, a delectable main entrée of lentil and mushroom “tenderloin” and cauliflower risotto, and assorted desserts highlighting citrus, chocolate and coconut.
More information about Pitch for the Purse can be found at pitchforthepurse.ca.
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About FWE:
The Forum for Women Entrepreneurs (FWE) is a Canadian charity that educates, mentors and connects women entrepreneurs to be wildly successful, promoting strong economies and thriving communities. With the goal of building the economy, one woman-owned business at a time, FWE supports women who are venturing into new business opportunities or ready to ramp up and grow their existing business. From start-up advice to specific tips and tricks, FWE leaders, advisors, and business professionals are ready to share their expertise through game-changing and impactful programs. Since its inception, FWE has curated over 2,000 Mentor pairings, counts 570+ E-Series Alumnae, and has educated and mentored 400+ women with Pitch for the Purse. More importantly, when you help a woman entrepreneur through FWE, she will go on to create 10 more jobs and grow her revenue by over 30% each year. Although 50% of new businesses fail after the first five years, women who are educated and mentored by FWE are beating the odds stacked against them and are three times more likely to still be in business than the Canadian average. Learn more at www.fwe.ca.