TORONTO — The Ontario government is investing $5 million in the Racialized and Indigenous Supports for Entrepreneurs (RAISE) program for 2024-25 to provide free access to business coaching, training and grants for more than 400 Indigenous, Black and other racialized entrepreneurs. This is part of the government’s $15 million investment over three years to provide more than 1,200 entrepreneurs with the training and support to launch and grow successful small businesses.
“Many Indigenous, Black and racialized people continue to face systemic barriers in starting and growing their businesses,” said Graham McGregor, who is acting for the Minister of Citizenship and Multiculturalism Michael Ford while he is on leave. “That’s why our government is making sure the next generation of diverse entrepreneurs is equipped with the tools, resources and capital they need to transform their passions into successful and competitive businesses.”
The RAISE program helps eliminate barriers faced by Indigenous, Black and other racialized entrepreneurs who want to start or grow their businesses. The government is now accepting applications for the 2024-25 intake which will provide eligible entrepreneurs with free online business development training, culturally responsive coaching, networking supports and a one-time grant of $10,000. Interested entrepreneurs can learn more about the program and apply here. Applications close on October 30, 2024.
The online training includes modules on business financials, cash flow management, business operations, marketing and public relations strategies and digital transformation. In partnership with DMZ at Toronto Metropolitan University, the program also provides one-on-one and small group business coaching, as well as networking opportunities to assist entrepreneurs in developing and achieving their business action plans, building networks, connecting to market opportunities and accessing information and services.
Since its initial launch in 2022, the government has supported more than 900 Indigenous, Black and racialized entrepreneurs to build the skills they need to succeed.
Quick Facts
Ontario launched the RAISE program in 2022 with an initial investment of $5 million to support over 400 entrepreneurs.
In 2023, Ontario renewed its commitment to the program with a $15 million investment over three years to support over 1,200 additional aspiring Indigenous, Black and other racialized entrepreneurs.
To be eligible for the RAISE program, businesses must be registered/incorporated, based in Ontario and owned by an Indigenous, Black or other racialized individual.
Quotes
"Supporting Indigenous entrepreneurs with the resources their businesses need to thrive is an essential part of our government’s commitment to advancing economic reconciliation. The RAISE program is helping break down barriers and create opportunities for Indigenous business owners so they can contribute to economic growth in their communities and across the province"
- Greg Rickford
Minister of Indigenous Affairs and First Nations Economic Reconciliation
"One of Ontario’s greatest strengths is our people, and our government is focused on providing our small business owners with the supports they need to start-up, scale-up and succeed. By ensuring more Indigenous, Black and racialized entrepreneurs have access to critical training, coaching and networking opportunities through the RAISE program, we’re empowering more businesses to grow and contribute to strong, vibrant communities across the province"
- Nina Tangri
Associate Minister of Small Business and Red Tape Reduction
"We extend our heartfelt gratitude to the RAISE program for their transformative grant, which has been a true catalyst in advancing our mission at Rili Budding Scientists' Lab. With RAISE’s support, we’ve been able to broaden our reach, empowering young minds through hands-on STEM education and fostering a passion for innovation in the next generation. RAISE’s belief in our vision has made a profound difference, and we are deeply thankful for the lasting impact this grant will have on our community and beyond. Thank you for being a vital partner in shaping future scientists and innovators!"
- Dr. Umang Suthar
Founder of Rili Budding Scientists’ Lab
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