IDEA Mississauga is excited to announce that it is a successful recipient of the Federal Government’s Regional Innovation Ecosystem Fund in partnership with Black Creek Community Health Centre, the Black Entrepreneurship Alliance (BEA) and York University. Through this fund, a total of $2.4 million in grants will be distributed, with IDEA Mississauga receiving $60,000 to support the Step-Up Program, which is a six-month program designed to help innovative and inclusive businesses overcome barriers to their growth, reach new levels of success, and drive meaningful social and environmental change.

IDEA Mississauga will be an active partner to Black Entrepreneurship Alliance (BEA) and the Black Creek Community Health Centre, providing support that is community-focused. This includes:

• Advisory services: Support BEA in addressing unique challenges facing Black entrepreneurs
• Community events: Support events and provide a platform for Black founders to build their network
• Business mentorship: Provide hands-on support to help entrepreneurs achieve their goals
• Grassroots development: Strengthen the talent pipeline for Black entrepreneurs

IDEA Mississauga has a proven track record in supporting Black-led and diverse businesses, particularly through programs like the Step-Up Program, which has been instrumental in helping diverse businesses in Mississauga overcome barriers to growth.

Funding from the Regional Innovation Ecosystem Fund will further enhance the Step-Up program, which provides entrepreneurs with access to expert training, personalized mentorship, and comprehensive resources to help underrepresented businesses expand. This investment will ensure that diverse businesses have the tools they need to scale and succeed while fostering an inclusive, thriving economy in Mississauga.

With its demonstrated success in empowering entrepreneurs from underrepresented groups, IDEA Mississauga is uniquely positioned with the tools and resources to support the Black Entrepreneurship Alliance’s work. This partnership underscores the City of Mississauga and IDEA Mississauga’s commitment to deliver meaningful impact, while prioritizing diversity and inclusion within the business community.

Elevating Black communities across Southern Ontario

Funding from the Regional Innovation Ecosystem Fund will also strengthen the Black Entrepreneurship Alliance’s (BEA) work, in collaboration with IDEA Mississauga, to support over 200 startups. Previously, through the Federal Government’s Black Entrepreneurship Fund, BEA assisted 136 ventures, 75 per cent of which were women-led. Through this support, these ventures have generated more than $46 million in revenue, raised $7.3M in funding, and created 989 jobs. These ventures have also invested a total of $525,000 in upskilling and professional development, highlighting the BEA’s success in fostering the growth of Black-owned businesses.

This new round of funding from the Regional Innovation Ecosystem Fund will build on the progress already achieved by BEA to ensure a greater reach into Black communities across Southern Ontario. The potential impact is expected to include: an increased number of Black-led ventures in tech, more traditional and consumer packaged goods, and the creation of new intellectual property and commercialization. It will also help strengthen the talent-pool and build emerging leaders, while further promoting diversity and inclusion.

About IDEA Mississauga

IDEA, powered by Invest Mississauga, brings together industry, government, education and organizational leaders to help start-ups and scale-ups accelerate ideas and commercialize solutions. IDEA offers entrepreneurs a comprehensive suite of resources to support their needs and growth, including tailored programs and services, along with a rich network of mentorship, partners and talent. From start-up to scale-up, the IDEA team is dedicated to driving innovation and turning entrepreneurs’ ideas into reality.

About the Black Entrepreneurship Alliance

The Black Entrepreneurship Alliance (BEA) was created to fill a gap in Toronto’s business ecosystem by supporting Black, underrepresented entrepreneurs. As a black-led, non-profit organization, BEA helps amplify and advance the next generation of Black entrepreneurs. Through tailored programming, bootcamps and events, BEA helps Black professionals build and grow successful ventures. Originally launched as the first Black-focused entrepreneurship program in the Jane and Finch community, BEA has since expanded its reach to the Greater Toronto Area.

Quotes

“At the Black Entrepreneurship Alliance, we believe that fostering inclusive innovation and economic growth requires intentional collaboration. Partnering with IDEA Mississauga/City of Mississauga presents an exciting opportunity to expand our impact, providing Black entrepreneurs with the resources, networks, and ecosystem support they need to thrive. By working together, we can create inclusive pathways for innovation, scale diverse businesses, and strengthen regional economic development. We look forward to building a lasting relationship that drives sustainable success for Black-owned enterprises in Mississauga and beyond.” – Olu Villasa, Manager, Black Entrepreneurship Alliance

“IDEA Mississauga is proud to be a recipient of the Federal Government’s Regional Innovation Ecosystem Fund. This grant is a step forward in our work to empower Black entrepreneurs and help address the unique challenges they face, while also supporting them in reaching their full potential. We’re excited to partner with the Black Entrepreneurship Alliance, Black Creek Community Health Centre, and York University to create a more inclusive, innovative and successful business ecosystem.” – Christina Kakaflikas, Director, Invest Mississauga

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