Funding from FedDev adds support for Black businesses in GTA
The Federal Economic Development Agency for Southern Ontario (FedDev) has invested CAD $2.4 million in Black Creek Community Health Centre to expand support for Black entrepreneurs across the Greater Toronto Area.
This new funding will enable the Black Entrepreneurship Alliance (BEA), an initiative established in 2021, to expand its offerings for Black-led businesses and professionals through additional training, mentorship, and market access opportunities.
The Black Entrepreneurship Alliance was co-designed by the Black Creek Community Health Centre, York University's YSpace, the TD Community Engagement Centre, and Schulich ExecEd. The program aims to deliver tailored support to Black business owners and professionals across the region.
The BEA runs various programs from community idea consultations to tech innovation. Notably, it runs an accelerator for Black-run tech startups. Each season, the program runs an early-stage tech venture program to launch businesses. In the past, it has helped businesses like multi-currency wallet Kobopay and AI-powered digital workspace Opendashboard.
Organisational background
Established in 1989, Black Creek Community Health Centre is a not-for-profit institution that provides services to Toronto's northwest communities. The centre focuses on delivering a comprehensive range of community-based programmes and services.
"Together, we are helping to unlock the potential of Black innovators. Our shared investment provides the tools, mentorship, and resources to build sustainable businesses. This isn't just about fostering economic independence - it's about strengthening community resilience within Northwest Toronto and creating equitable opportunities for all Black Ontarians to succeed and lead," said Cheryl Prescod, Executive Director, Black Creek Community Health Centre and Olu Villasa, Manager, Black Entrepreneurship Alliance in a joint statement.
Through partnerships with post-secondary institutions, municipalities, and federal agencies, the Black Entrepreneurship Alliance aims to bridge the gaps in support for Black entrepreneurs and promote equity in business development opportunities throughout southern Ontario.
Support for business growth
The investment from FedDev will support the expansion of several new programs, including an 11-week Business Process Improvement training program and a 12-week export-readiness course. In addition, an annual forum will be held in partnership with York University and local governments. The forum will provide a space for Black-led businesses to share ideas and build connections.
The initiative is expected to support over 350 businesses and provide mentorship and training to more than 350 professionals in southern Ontario.
Evan Solomon, Minister of Artificial Intelligence and Digital Innovation, highlighted the importance of supporting Black entrepreneurs in national economic growth.
"Black entrepreneurs are a testament to Canadian ingenuity, and their success is integral to Canada's future prosperity. This investment will help hundreds of Black entrepreneurs and professionals turn their ideas into successful businesses, creating jobs and driving innovation," said Solomon.