News Summary

The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has announced a $2.4 million CAD investment to support Black entrepreneurs through the Black Entrepreneurship Alliance’s incubator programs. This funding aims to enhance the support provided to Black entrepreneurs in Southern Ontario, particularly through Toronto’s Black Creek Community Health Centre. The investment will enable the addition of new programs, including business process improvement training and export readiness programs. The initiative is expected to support over 350 businesses and provide mentorship and training to professionals across the Greater Toronto Area. Since its inception in 2021, the Black Entrepreneurship Alliance has supported 136 ventures, generating $46 million in revenue and creating nearly 1,000 jobs.