FedDev Ontario investment supports nine organizations to help Black entrepreneurs and business owners build, grow and scale their businesses
Black-led businesses and entrepreneurs make important contributions to southern Ontario's economy through innovation, business growth and job creation. By supporting initiatives that break down barriers and create opportunities for Black entrepreneurs and business owners, the Government of Canada is helping strengthen the Black entrepreneurship ecosystem and build a stronger Canadian economy.
Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced a combined non-repayable investment of nearly $15 million to support nine organizations in southern Ontario: Afro-Caribbean Business Network (ACBN), Aspire for Higher, Black Mentorship Inc., BlackTECH Hub, Carribean Canadian Association of Waterloo Region, Durham Region Association of Black Professionals and Entrepreneurs Inc., Nobellum Enterprise, Organization for Economic Development and Diplomacy, and The Change Maker Innovation Hub.
As part of this announcement, Nobellum Enterprise, a not-for-profit, female-led social enterprise, is undertaking a $3.6-million project, with FedDev Ontario providing $1.2-million to deliver the CanBlack STEM Project. This project will provide Black STEM-focused businesses with commercialization support, mentorship, and market access opportunities - boosting growth, competitiveness, and innovation outcomes.
