The Black Entrepreneurship Alliance (BEA), a co-designed collaboration between York University's YSpace and the Black Creek Community Health Centre, received $2.4 million from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) to expand the Alliance's programming.
The new investment is delivered through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), which delivers financial support and business services to help entrepreneurs and organizations grow, create jobs and diversify the region's economy.
Announced by Judy Sgro, member of parliament for Humber River-Black Creek, the funding underscores the vital role Black entrepreneurs play in shaping Canada's economy and the importance of supporting their growth.
From left to right: Olu Villasa, manager of BEA; Cheryl Prescod, executive director of Black Creek Community Health Centre; Judy Sgro, member of Parliament for Humber River-Black Creek; and Amir Asif, vice-president research and innovation at York University.
"Over the last few years, we've seen just how much Black entrepreneurs can achieve when the right support is in place," says Olusegun Villasa, program manager of the BEA. "This new investment means we can build on that progress, deepen our impact and continue creating a community where innovation is accessible to all."
Since its launch in 2021, BEA has supported 136 ventures, helping them generate more than $46 million in revenue, raise $7.3 million in funding, and create 989 jobs. The BEA has also invested more than $525,000 in upskilling and professional development for Black entrepreneurs and professionals.
Its programming has ranged from bootcamps that help Black entrepreneurs validate food and beverage products or prepare startups for investment, to a leadership certificate program delivered with Schulich ExecEd. Specialized streams also support growth in the consumer-packaged goods and technology sectors through accelerators and mentorship that connect founders with industry experts and networks.
With this new investment, BEA will bolster its impact by expanding programs in business process improvement and export readiness, in addition to hosting an annual forum to connect Black founders with ecosystem leaders. That impact extends to community partners such as the TD Community Engagement Centre at York University, located in the Black Creek Community.
David Kwok
"The TD Community Engagement Centre has always been about building connections and supporting people right here in Black Creek," says Byron Gray, manager of the centre. "This investment means more entrepreneurs in our community will have access to the mentorship and networks they need to grow stronger businesses where it matters most."
For the BEA, the investment represents more than funding. It is a step toward creating lasting impact, building stronger communities and ensuring Black entrepreneurs have opportunities to thrive for generations to come.
"Momentum is everything for entrepreneurs, and this funding helps us keep building on it," says David Kwok, director of entrepreneurship and innovation at YSpace. "We're excited to see more Black founders turn ideas into thriving businesses that create jobs, spark innovation and inspire the next generation."
Learn more about the Black Entrepreneurship Alliance and its programs.
This story was originally featured in YFile, York University's community newsletter.
