Mastercard’s $10,000 grants empower Canadian women entrepreneurs to scale small businesses

Mastercard continues to champion Canadian small businesses through its impactful initiative, the Mastercard x Pier Five Small Business Fund. This programme, designed to empower women entrepreneurs in Canada, provides financial support alongside mentorship and community-building opportunities, helping small business owners thrive in an increasingly competitive landscape.

In its latest round, Mastercard awarded $10,000 CAD grants to 10 outstanding women-led businesses across Canada, spanning industries from sustainable food production to healthcare innovation and fashion. Beyond the financial boost, recipients gain access to expert mentorship, peer networking, and business development opportunities through a Priceless experience in Toronto.

How does Mastercard’s small business fund support Canadian entrepreneurs?

Mastercard’s approach to supporting Canadian small businesses goes beyond traditional funding models. The Mastercard x Pier Five Small Business Fund acts as both a financial lifeline and a growth accelerator. Each recipient receives not only a $10,000 CAD grant but also opportunities to connect with industry leaders, participate in exclusive workshops, and access a network of peers and experts committed to fostering entrepreneurial success.

According to Nishant Raina, Vice President of Small and Medium Enterprises at Mastercard Canada, the fund isn’t just about providing money—it’s about creating a platform for long-term business growth. Raina explains, “The Mastercard x Pier Five Small Business Fund empowers talented small business owners with resources and mentorship to help them succeed well into the future. More than just a financial grant, it’s a catalyst for growth and innovation.”

This holistic approach is essential in today’s economic climate, where small businesses face challenges such as rising operational costs, market fluctuations, and limited access to capital. Mastercard’s initiative helps bridge these gaps, ensuring entrepreneurs have the tools, funding, and community support they need to scale their businesses effectively.

Who are the recipients of the Mastercard x Pier Five Small Business Fund?

The 2025 cohort of the Mastercard x Pier Five Small Business Fund reflects the diversity and resilience of Canadian small businesses. The recipients represent a wide range of industries and backgrounds, showcasing the entrepreneurial spirit thriving across the country.

These businesses are not just profit-driven—they are purpose-led, focusing on sustainability, social impact, and community engagement. From eco-friendly grocery stores to assistive technology innovators, the recipients exemplify how women entrepreneurs in Canada are reshaping industries and driving meaningful change.

For example, companies like Boco Boco from Montreal are revolutionising the way consumers engage with sustainable food, while Bruized in Toronto tackles food waste through innovative upcycled snack products. In the healthcare space, Folds Wear Inc. from Calgary is transforming medical uniforms with eco-conscious designs, and ImaginAble Solutions in Hamilton is developing assistive technology to improve the lives of individuals with hand disabilities.

This diversity of industries highlights how Mastercard’s support reaches beyond traditional business sectors, recognising the importance of innovation and inclusivity in building a robust small business ecosystem.

Why is mentorship as important as funding for small businesses?

While financial support is crucial, mentorship often plays an even more significant role in the long-term success of small businesses. Mastercard’s programme acknowledges this by integrating mentorship and networking opportunities into its funding model.

Julian Golden, co-founder of Pier Five, emphasises the impact of mentorship: “Initiatives like the Mastercard x Pier Five Small Business Fund help bridge the gap in access to funding, which has historically been a significant barrier to success for women entrepreneurs in Canada. We’re proud to be part of this initiative with Mastercard that broadens access to funding and provides distinctive mentorship opportunities to this year’s cohort of deserving small business owners.”

Through the Priceless experience in Toronto, grant recipients engage with mentors, industry experts, and Mastercard partners. These connections provide strategic insights into business growth, marketing, operations, and financial management—skills that are often underdeveloped in early-stage entrepreneurs due to limited resources.

What is Mastercard’s broader strategy for supporting Canadian small businesses?

The Mastercard x Pier Five Small Business Fund is just one facet of Mastercard’s broader commitment to supporting Canadian small businesses. Beyond direct funding, Mastercard offers a comprehensive range of tools and resources designed to help entrepreneurs thrive in a rapidly evolving business environment.

This includes cybersecurity solutions such as free cyber assessment tools to protect against digital threats, seamless payment technologies to streamline transactions, and digital enablement programmes through the Mastercard Small Business Resource Centre. These initiatives aim to reduce operational risks and enhance the efficiency of small businesses across Canada.

Mastercard’s recent immersive shopping experience in Fort Langley, British Columbia, further illustrates its commitment to local business ecosystems. This initiative connected small businesses with new customer bases through experiential marketing strategies, driving both foot traffic and online sales.

Additionally, the Mastercard Small Business Community provides entrepreneurs with year-round access to resources, workshops, and networking events. This ongoing support helps small business owners stay updated on industry trends, adopt innovative practices, and build resilient business models capable of withstanding market fluctuations.

How does Mastercard’s initiative influence the future of small businesses in Canada?

Mastercard’s continued investment in Canadian small businesses signals a broader shift in corporate responsibility towards fostering inclusive economic growth. By focusing on women entrepreneurs in Canada, the company addresses systemic barriers that have historically limited access to capital, mentorship, and growth opportunities for underrepresented groups.

These efforts not only benefit individual entrepreneurs but also contribute to the overall vitality of the Canadian economy. Small businesses are the backbone of economic development, job creation, and community resilience. Mastercard’s support helps ensure that this sector remains dynamic, diverse, and prepared for future challenges.

As Mastercard expands its initiatives, the ripple effect will likely inspire other corporations to adopt similar programmes, creating a more supportive environment for entrepreneurs nationwide. This model of combining financial assistance with mentorship and community-building could become the standard for small business development programmes globally.