Call for Applications for Black Entrepreneurship Ecosystem Fund (Canada)
Deadline: 21-Dec-20
The Government of Canada is issuing a call for applications for the Black Entrepreneurship Ecosystem Fund (Ecosystem Fund) as a way for organizations to tell the Government of Canada which business supports and services are most needed to strengthen the Black Entrepreneurship Ecosystem.
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The Government of Canada is working closely with Black business owners and Black-led organizations across Canada to ensure the new BEP reflects the realities and needs of Black Canadians. The program builds on the Government’s work to address systemic racism against Black Canadians. This includes taking steps to advance Canada’s Anti-Racism Strategy, justice reforms, modern policing structures and standards, and enhanced local community supports for young Black Canadians.
The goal of the Ecosystem Fund is to strengthen the entrepreneurship ecosystem for Black entrepreneurs and business owners across Canada. It will allow not-for-profit Black-led organizations to develop new services or expand those they already offer such as mentorship, networking, financial planning, and business training for Black entrepreneurs.
Outcomes
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Black-led organizations increase their existing offering and grow the number of businesses they support
Black entrepreneurs are supported to start and grow their businesses
The number of Black-owned businesses in Canada grows
Gender diversity is supported
Funding Information
National projects must be a minimum contribution of $250,000 but not exceed the maximum contribution of $5,000,000 for the duration of the project.
Eligible Activities
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Eligible activities under the Ecosystem Fund address a gap and/or build capacity in the entrepreneurship ecosystem for Black Canadians, and can include one or more of the following:
Networking, matchmaking, and mentorship opportunities;
Incubator and accelerator programs;
Business advisory services to help entrepreneurs develop business plans, access capital, etc.;
Efforts to scale up programs that support Black entrepreneurs across regions and on a national basis; and
Other activities that will support the objectives of the Ecosystem Fund (such as financial skills – credit, business, loan management, digital literacy, etc.).
Eligibility Criteria
Only not-for-profit, Black-led organizations can submit an application. These organizations may apply independently or decide to partner to deliver project activities.
Black-led organizations are defined as those, which demonstrate the following criteria:
leadership positions (Directors, Founders, etc.) that are primarily occupied by people who self-identify as Black (minimum two-thirds of positions);
the governance structure (volunteer committee, advisory board, eldership circle, etc.) that is primarily composed of people who self-identify as Black (minimum two-thirds of positions); and
their mandate, activities and outcomes are focused on supporting members of Black communities.
Not-for-profit organizations are organizations such as, but not limited to:
Business and entrepreneur support organizations;
Innovation hubs;
Incubators/Accelerators;
Organizations that support social enterprises or cooperatives.
For more information, visit https://www.ic.gc.ca/eic/site/150.nsf/eng/h_00001.html