Government of Canada investment to strengthen opportunities for Black entrepreneurs and businesses across southern Ontario
News release
August 26, 2026 - Toronto, Ontario
FedDev Ontario investment supports nine organizations to help Black entrepreneurs and business owners build, grow and scale their businesses
Black-led businesses and entrepreneurs make important contributions to southern Ontario's economy through innovation, business growth and job creation. By supporting initiatives that break down barriers and create opportunities for Black entrepreneurs and business owners, the Government of Canada is helping strengthen the Black entrepreneurship ecosystem and build a stronger Canadian economy.
Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced a combined non-repayable investment of nearly $15 million to support nine organizations in southern Ontario: Afro-Caribbean Business Network (ACBN), Aspire for Higher, Black Mentorship Inc., BlackTECH Hub, Carribean Canadian Association of Waterloo Region, Durham Region Association of Black Professionals and Entrepreneurs Inc., Nobellum Enterprise, Organization for Economic Development and Diplomacy, and The Change Maker Innovation Hub.
As part of this announcement, Nobellum Enterprise, a not-for-profit, female-led social enterprise, is undertaking a $3.6-million project, with FedDev Ontario providing $1.2-million to deliver the CanBlack STEM Project. This project will provide Black STEM-focused businesses with commercialization support, mentorship, and market access opportunities – boosting growth, competitiveness, and innovation outcomes.
With funding through the Black Entrepreneurship Program Ecosystem Fund, these organizations will deliver targeted business supports that help Black entrepreneurs and business owners build skills, access mentorship and networking opportunities, adopt innovative practices, and enhance their capacity to compete and succeed. Together, these projects will foster a more connected and resilient Black entrepreneurship ecosystem and create lasting benefits for communities across southern Ontario. For information on the projects, refer to the backgrounder.
The Government of Canada remains committed to strengthening the Black entrepreneurship ecosystem and supporting the long-term success of Black entrepreneurs and business owners, helping build a stronger and more inclusive Canadian economy.
Quotes
“Black entrepreneurs and business owners are shaping a more dynamic and competitive economy across southern Ontario. Today’s investments will help organizations strengthen the programs, expertise and partnerships that entrepreneurs need to move their businesses forward, creating lasting benefits for communities across the region.”
- The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario
"Today, Nobellum has launched over 121 companies, generating more than $30 million in revenue for Black STEM ventures across Canada. The CanBlack STEM Project builds on that track record, giving us the infrastructure to do it again, at scale. With this investment from the Government of Canada, we’re not starting from zero. We’re taking a model that already works and equipping it with more intentional programming, facility access, commercialization and capital pathways to build the next generation of high-growth STEM companies."
- Melisa Ellis, Founder & CEO, Nobellum Enterprise
Quick facts
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Delivered by Canada’s regional development agencies, the Ecosystem Fund is a key component of the Black Entrepreneurship Program (BEP), an initiative which aims to break down barriers and create opportunities for Black entrepreneurs.
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With funding through 2030, the Ecosystem Fund continues to empower Black entrepreneurs and business owners, and support their long-term success – helping to contribute to a stronger Canadian economy.
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Incorporated in 2020, Nobellum Enterprise (Nobellum) is a not-for-profit female-led social enterprise located in Toronto, founded to address equity gaps in entrepreneurship and innovation for Black communities.
Associated links
Contacts
Leela Polushin
Press Secretary
Office of the Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario
leela.polushin@ised-isde.gc.ca
343-543-5391
Media Relations
FedDev Ontario
media@feddevontario.gc.ca
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