Delivering DEI: 10 innovative non-profits awarded $1M to overcome small business barriers
Why It Matters
Contributing to a stronger and more inclusive small business environment in North America is important to economic growth and creating diverse job opportunities.
Aspiring business leaders often face challenges entering the industry, but those obstacles significantly increase for people in minority groups. Limited access to resources, systematic discrimination and a lack of representation in business leadership can often be a setback.
TD Bank recently provided grants to organizations that help remove barriers for underserved entrepreneurs through its annual TD Ready Challenge. Ten non-profits were each awarded a $1 million grant.
Here are the ten recipients:
Canada
Ampere (formerly The Pinnguag Association): Amp up small business
Amp Up Small Business helps aspiring entrepreneurs from low-income backgrounds in northern Canada’s rural, remote, and Indigenous communities. The organization offers training to help users build and expand their small businesses. Financial support and mentorship will be provided to a selected group in exchange for a share of their revenue, which will then be reinvested back into the program.
Futurpreneur: Women in Entrepreneurship Initiative
The goal of this entrepreneurship is to build a supportive community for women-owned and women-led businesses and help them gain valuable skills for business growth. The organization hosts in-person and virtual networking events and workshops on topics ranging from financial management and marketing to accessing capital and expanding internationally.
Tamarack Institute for Community Engagement and Small Economy Works: Initiating Futures: Advancing rural, remote, and northern entrepreneurs
A partnership between Tamarack Institute and Small Economy Works has provided 300 entrepreneurs with practical training to develop their businesses. The program is designed for Indigenous women and rural, remote, and northern Canadians. It offers customized coaching and group learning sessions through community collaboratives and AI-powered learning.
University of British Columbia: UBC Sauder School of Business Ch’nook Management Program: Increasing Access to Economic Opportunities through Business Education, Entrepreneurship and Small Business Skills
This program empowers Indigenous entrepreneurs and small business owners by combining traditional business practices with Indigenous perspectives. This type of learning experience equips entrepreneurs with the education, skills, and resources needed for success that are both culturally relevant and impactful.
Syrian Canadian Foundation (SCF): Newcomer Entrepreneur Women (N.E.W) Venture
The N.E.W. Venture is dedicated to providing economic independence and social inclusion for newcomer and refugee women in Ontario and Quebec, especially for those who have experienced gender-based violence. The program is in collaboration with the Nisa Foundation, a charity built by a group of Muslim women. The program provides entrepreneurship training and skill development.
Toronto Arts Foundation: Newcomer Artist Program
An expansion of this program delivers support to newcomer artists through mentorship, education, and hands-on work experience. Over the next three years, 25 annual artists will gain entrepreneurial skills, paid work opportunities, and connections with industry networks through the program. The aim is to promote artists’ economic independence, personal growth, and social integration to create long-term success.
United States
Hot Bread Kitchen: HBK Incubates: Building financial security for immigrant and women of color small food business owners in New York City
The HBK Incubates program works with women of colour and immigrants in New York City who are in the small food business. The organization uses a holistic approach to help low—and moderate-income aspiring entrepreneurs develop and grow their food businesses.
PA CDFI Network: Drive your Business
This organization is made up of a coalition of community development financial institutions that offer affordable loans and technical support. Its Drive Your Business initiative aims to bridge service gaps for underserved entrepreneurs. It eliminates barriers by integrating technology, education, coaching, and community collaboration.
Washington Area Community Investment Fund (WACIF): Resilient Futures: Small Business Financial Wellness and Wealth Building Program
This program is designed to assist entrepreneurs who are navigating challenging financial situations in the Washington D.C. area. According to the organization, it will be providing a “first-of-its-kind” initiative in the state through this funding.
Tampa Bay Chamber Foundation: Empower Sustainability Focused Accelerator
The Tampa Bay Chamber Foundation offers this program to create growth for small minority-owned businesses in Tampa Bay. The program incorporates automation tools to deliver a forward-thinking approach to strategic planning and execution.
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