The Federation of Black Canadians (FBC) and the University of Toronto Scarborough are partnering as part of a $1.3 million research initiative to collect data to determine the needs, obstacles, and challenges young Black entrepreneurs face.

The announcement, made Feb 21 at U of T Scarborough’s Catalyst Centre, means that the Federation of Black Canadians will collaborate with U of T Scarborough, The BRIDGE and U of T’s Black Founders Network (BFN) to conduct research, including surveys, in Black communities across Ontario, Alberta and Quebec.

The program will create programming for Black entrepreneurs, including a four-month entrepreneurial course focused on business planning, finance, risk management, legislation, and commercialization.

“Through our partnership with U of T Scarborough, The BRIDGE and the Black Founders Network, participants will gain access to passionate facilitators and mentors, as well as a greater understanding of what it means to be an entrepreneur and what goes into developing a business,” Chris Thompson, the executive director of the Federation of Black Canadians, said in a statement.

The BRIDGE will also partner with the FBC to support the creation of a 12-month mentorship program that offers one-on-one support from Black community leaders to build professional networks and expand social capital. Topics will include managing stress, debt, technology, brand and business development, and mental wellness.

Funding for the initiative comes from the Black Entrepreneurship Program Ecosystem Fund, provided by the federal government, which in this case is giving 170 Black business owners tools and resources in Toronto, Montreal, and Edmonton.

Efosa Obano, program manager at the Black Founders Network, also involved in the effort, said the initiative will support capacity-building for Black entrepreneurs.

“Capacity-building is critical,” Obano said in a statement. He founded the African Impact Initiative while he was an undergraduate student at U of T Scarborough.

Wisdom Tettey, U of T vice-president and principal of U of T Scarborough, welcomed the initiative and said the funding will support Black entrepreneurs in the area that, otherwise, wouldn't have access to these resources.

“It fills me with immense pride that our campus is part of the ecosystem fund, and it’s a privilege to be a key partner in unleashing the full potential of Black entrepreneurs," Tettey said in a statement.