Scotiabank aims to bring women into the automobile industry by launching its accelerator program

In March of this year Scotiabank launched Women in Auto Accelerator, an accelerator program for up-and-coming young women leaders in the automotive industry.

The Women in Auto Accelerator, the first of its kind in Quebec, seeks to offer mentoring with women who have made their way in the automotive industry and to create links between women professionals across the province.

Supporting women to improve representation in the industry

There are few women in leadership and ownership positions in the automotive industry. To close the gender representation gap in the workforce and to better support women in their advancement, Scotiabank has therefore established the Women in Auto Accelerator. This program supports women by providing exclusive networking and mentorship opportunities.

Women in Quebec make up only 18% of the workforce in automotive services, and that number falls to 6.4 % for the skilled trades.^{^[1]} In addition, according to a study from Deloitte, nearly half of women in the automotive sector in North America said that they would choose a different line of work if they had to do it again. A lack of diversity and inclusion was one of the top reasons given.^{^[2]}

“With the Women in Auto Accelerator Scotiabank’s commitment in the automobile industry is linked to the desire to increase women's economic and professional opportunities. This is an unparalleled opportunity for us to interact with the industry and encourage diversity,” said Sylvie Gagnon, Director of Sales Market Lead in Quebec for Scotiabank’s Dealer Finance Centre.

A program that builds on exchanges

This acceleration program will pair six young up-and-coming leaders in the automotive industry with six experienced dealers in leadership positions. In addition to multiple mentoring meetings, participants will benefit from the support of a professional coach and the financial institution's network of experts.

The Women in Auto Accelerator is rooted in the Scotiabank Women Initiative®. “This completely free program has a unique cohort structure, as well as peer-to-peer co-development, coaching and group meetings with all mentors and mentees, all of which will contribute to the personal and professional success of these leaders,” added Ana Marinescu, Senior Manager of The Scotiabank Women Initiative. “What entrepreneur could ask for more?”

The Women in Auto Accelerator is a natural commitment for Scotiabank, which has worked closely with the automotive dealers for over 65 years.

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According to data from the Corporation des concessionaires automobiles du Québec: https://www.ccaq.com/les-femmes-dans-lindustrie-automobile/

DELOITTE. (2020). Women at the wheel – Key findings from the 2020 Diversity, Equity, and Inclusion in Automotive Study.
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