Evol, serving diversity for inclusive entrepreneurship

“Evol exists for entrepreneurs,” resolutely asserts Véronique, the Director of Business Outreach. “We don’t follow a trend; it’s firmly anchored in our reason for being. We want to support underrepresented clients in entrepreneurship and be there to meet their needs so that they can grow and shine; it’s always been that way, since day 1.” Femmessor (which preceded Evol) worked for women in entrepreneurship for over 25 years. At the time, nothing was won, but the work paid off and female entrepreneurship has gained ground. There are now more women than men going into business: 65% of new SME owners are women according to the Quebec entrepreneurial index. This is a big step forward and Evol is continuing its efforts!

As society evolved, the organization continued to grow, becoming Evol in 2021, with the same aspiration to transform the economy to make it more inclusive and equitable, but also more sustainable. “We wanted to update our purpose to reflect the plurality of faces that make up Quebec society and the increasingly present environmental concerns. Diversity, inclusion, impact… Everything remains to be built. Evol is a bearer of hope for a better world.”

Support impact projects

By launching a brand new impact financing envelope in 2021, Evol chose to specifically support companies that intended to generate positive impacts aligned with the 17 UN Sustainable Development Goals (SDGs). This was also the very first supported financing initiative that combines an equity mission and an impact vision.

To convey its message, Evol surrounded itself with visionary and inspiring entrepreneurs. "We are used to working closely with entrepreneurs. And who is better placed than them to understand their reality and encourage them to take action? It is with this in mind that we launched 1001 raisons , a vast communication campaign highlighting 25 impact leaders." The campaign aimed to highlight entrepreneurs from all walks of life and talk about the actions they had implemented in their respective companies. Whether it was to promote equal opportunities, support healthy and responsible food, promote responsible and sustainable sourcing or to revolutionize an industry to make it less polluting, this campaign was certainly a source of inspiration.

“It’s true that highlighting models and concrete examples is beneficial. Some companies are doing sustainable development and don’t even realize it!” smiles Chantal. “Others would like to get started, but don’t really know how to go about it. We may have an entrepreneur who comes to us wanting to reduce their plastic packaging, but the analysis of their environmental and community impacts shows that it’s by reducing their inputs that their impact will be greater. Our team is there to welcome entrepreneurs, regardless of their intention to have an impact, and to guide them towards what is most relevant for them and for society.”

Indeed, there are several aspects to consider: the impacts can affect citizens as well as stakeholders, employees or investors. This can concern the supply chain as well as the clientele. “We have access to a large network of resources and we have a regional presence that allows us to suggest profitable pairings at all levels,” she concludes.

“Our communications team has worked very hard over the past two years to popularize the sustainable development goals and to make this language more accessible,” confirms Véronique. “But the real work is done on the ground, by our entrepreneurs.”

Many have followed suit. This is the case of Christine Renaud, who was featured in the 1001 raisons campaign with her company e180, a B-Corp certified company. Her Braindate learning platform is used in events around the world. This is also the case of Trivel, a company in the Lanaudière region whose mission is to give people of all ages with specific needs the opportunity to enjoy the benefits of riding a tricycle and to fully participate in their community in a safe and sustainable way. And also, Malterre, a family business located in Bas-Saint-Laurent that produces crackers made from microbrewery spent grains.

Measuring impact: a quantitative and qualitative analysis grid

To qualify for the impact financing envelope, the project must of course be profitable, but also generate positive impacts on the planet and society. Evol must therefore rely on solid processes to analyze each project and its repercussions. We are talking about an impact for the future. How to assess the qualitative elements? How to position oneself in relation to an approach that is beginning, measure an intention of impact? How to evaluate the degree of involvement in the community or ensure ethical business governance? And above all, how to weigh all these aspects?

“We developed our own grid and an analysis system to weight each element and make an overall assessment of the current and future level of integration of sustainable development,” explains the Director of Impact Financing and Sustainable Development. “Of course, we want to avoid misleading claims or supposed commitments. We are uncompromising on this aspect and it is something that is quickly detected. The approach must be authentic and materialize within 12 months of obtaining the loan. At the same time, entrepreneurs are encouraged to remain mobilized and take action, through their participation in cohorts, such as our impact growth path, or with support bonuses and various incentives. We also calculate the effort to be made in the short and medium term and the expected benefits, because we know that the return on investment can be longer or more difficult to measure.”

Evol's impact analysis grid is aligned with the spirit of the 17 sustainable development goals set by the UN. It is based on two frameworks: the B impact Assessment allowing B Corp (Benefit Corporation) certification and the sustainable development guide of the Bureau de la Normalisation du Québec (BNQ 21000). Evol's impact analysis grid is linked to the calculation of the loan interest rate and is revised every year. The more the company's sustainable development approach is integrated into the company's various spheres of activity, the lower the interest rate will be. "This is one of the incentives we have set up in the short term, but we are always on the lookout for opportunities for innovation and collaboration to maximize our own impact in the financial and entrepreneurial ecosystem," concludes Chantal Thieblin Goffoz.