Government of Canada supports business innovation and inclusive economic growth for newcomer entrepreneurs
Over $3-million investment to support innovation and growth of 100 businesses led and/or owned by newcomer entrepreneurs
July 24, 2023
|Toronto — Newcomers to Canada have tremendous potential to contribute to a thriving, diverse economy. The Government of Canada is committed to supporting newcomer entrepreneurs by providing the mentorship, resources, and tools they need to succeed in building and growing their businesses here in Canada while advancing an inclusive economic future.
Today, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), along with James Maloney, Member of Parliament for Etobicoke-Lakeshore, announced an investment of nearly $3.3 million for Toronto Business Development Centre (TBDC) to provide support to 100 newcomer entrepreneurs as they seek to start and grow their companies in southern Ontario.
Through this project, TBDC, an Ontario-wide business incubator, will provide workshops, mentorship, and training to help participating entrepreneurs adopt new technologies and bring their products to market faster. This support will help entrepreneurs, primarily in the digital services, health, clean tech, advanced manufacturing, and agri-food industries, to set their businesses up for success in southern Ontario.
With this investment from the Government of Canada, 100 new businesses owned and/or led by newcomers to Canada will receive support, which is expected to result in the creation of 200 jobs, 80 new products or services, and 50 new intellectual properties.
Also, as part of this project, TBDC will develop a Digital Marketplace, which will allow newcomer entrepreneurs to connect with southern Ontario-based business advisors, giving them access to tailored guidance as they set up and grow their businesses. Participants will also have access to digital tools to help them adopt new technologies to support their businesses.
Today’s announcement demonstrates the Government of Canada’s commitment to investing in projects that support underrepresented entrepreneurs in achieving their full potential. Our government knows the importance of investments that empower and support people so they can reach their potential and turn possibilities into realities.
- About Us
- Our Partners
- Financial Relief Programs
- Benefits & Services
- CONTENT HUB