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Summary
Canada has announced a contribution of up to $5 million for the City of Toronto towards the creation of the Indigenous Centre for Innovation and Entrepreneurship (ICIE).
This Toronto-based centre will be the first Indigenous business incubator of its kind in southern Ontario, reads a statement from FedDev Ontario, and will support Indigenous entrepreneurs as they develop, launch and grow their businesses.
The centre will offer business skills training, collaborative workspaces, access to funding, mentorship and peer support networks based on approaches designed by the Indigenous community.
“The centre will provide a space for Indigenous entrepreneurs to create, expand and excel in business ventures and help continue the momentum and contribution of a strong Indigenous economy in Canada’s largest city,” said JP Gladu, president & CEO of the Canadian Council for Aboriginal Business.
The centre is located in more than 20,000 sq. ft. of commercial space over three floors at 200 Dundas Street East. Construction is underway, with the centre expected to open by the end of 2020.
It’s expected to support more than 400 Indigenous businesses and create 500 new jobs for Indigenous peoples across southern Ontario.
Toronto has undertaken “broad consultations” with the Indigenous community, reads the statement, and a Leadership Advisory Circle has been established “with the majority of members being local Indigenous leaders and entrepreneurs.”
“Toronto has one of Canada's largest urban Indigenous populations and the ICIE will be a culturally- and technologically-rich environment dedicated to supporting start-ups led by Indigenous businesses,” said Mayor John Tory. Toronto is home to about 69,000 Indigenous residents.