Community News
The Ontario (RAISE) program will enable 1,200 entrepreneurs to gain access to Start-up/Scale-up Training
BY PAUL JUNOR
On Thursday, November 17th, 2023, a press release by Michael Ford, Minister of Citizenship and Multiculturalism introduced a free program for Black and racialized entrepreneurs. Ontario plans to invest $15 million over the next three years in the Racialized and Indigenous Supports for Entrepreneurs (RAISE) program that will enable 1,200 entrepreneurs to gain access to: business coaching, training and grants.
450 entrepreneurs will be part of the program for 2023-2024, which is expected to launch and grow successful businesses, creating great jobs for Ontarians, providing goods and services people need and fostering vibrant and inclusive communities.
Minister Ford states, “Small businesses are the backbone of Ontario. Indigenous, Black and other racialized entrepreneurs make important contributions to our economy; however, many continue to face systemic barriers in starting and growing their businesses. As we continue to build a stronger, more inclusive Ontario, our investment into the RAISE program will ensure the next generation of diverse entrepreneurs are given the tools, resources and capital they need to transform their passions and innovative ideas into successful and competitive businesses.”
In 2022 the program was launched as a pilot in which there was an initial investment of $5 million that helped 400 BiPOC entrepreneurs. Benefits such as: culturally responsive coaching, networking supports, and a one-time grant of $10,000 will go a long way. The new cohorts will be able to participate in online business developing training. The online training includes modules about:
- Business financial
- Cash flow management
- Business operations
- Marketing and public relations strategies
- Digital transformations
In addition, by partnering with DMZ there will be other services offered such as:
- One-on-one and small-group business coaching
- Networking opportunities to assist entrepreneurs in developing and achieving their business action plans
- Building networks
- Connecting to market opportunities
- Accessing information and services
Greg Rickford, Minister of Indigenous Affairs states, “Our government recognizes that when small businesses have the confidence to start and grow their client’s operations, the surrounding communities can expand and prosper as a result. Our investments in the RAISE program mean Indigenous entrepreneurs will have access to online business tools, leading to enhanced economic development opportunities in every corner of Ontario.”
Dr. Conrad Ritzal, Director at Seed NanoTech International Inc. is grateful for his company’s participation in the program. He writes, “As a participant in the pilot program, the RAISE program was critical in helping the company expand, enhance its research capacity, strengthen its global research network and boost its digital presence. The grant enabled us to invest in cutting-edge equipment, critical components and software, as well as launch an international research event.”
Charmaine Williams, MPP of Brampton Centre states, “This investment in the RAISE program will help more entrepreneurs launch and grow successful businesses that contribute to building a stronger economy. Racialized and Indigenous entrepreneurs, including women, face disproportionate barriers in starting a business due to systemic racism and gender bias. Our government is breaking down barriers, helping entrepreneurs grow their businesses and building Ontario as the best province to do business in, and racialized and Indigenous people are an integral part of that.”
Nina Tangri, Associate Minister of Small Business Ontario, states, “Our government is ensuring Ontario’s entrepreneurs and small businesses have the support they need to start-up or scale up their business. That means removing obstacles for members of Indigenous, Black and other racialized communities, so we can build bridges to economic success, growth and opportunity. I’m proud that our government is leading by example and providing the RAISE program to support entrepreneurs who will contribute to creating strong, vibrant communities and good jobs.”
Applications are currently open for the 2023-2024 intake and any BIPOC entrepreneurs who are registered/incorporated and based in Ontario can apply at the website: Ontario.ca/RAISE.