TORONTO — The Government of Canada has made a FedDev Ontario contribution of up to $5 million for the City of Toronto which will go towards the creation of the Indigenous Centre for Innovation and Entrepreneurship (ICIE).
Construction of the ICIE, which will include over 20,000 square feet of commercial space over three floors at 200 Dundas St. E., is currently underway, with the centre expected to open by the end of 2020.
The centre will be the first Indigenous business incubator of its kind in southern Ontario, and will support Indigenous entrepreneurs as they develop, launch and grow their businesses, states a release, adding 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 ICIE is expected to support close to 420 Indigenous businesses and create 500 new jobs for Indigenous peoples.
The City of Toronto is working closely with the local Indigenous community to develop the ICIE. Broad consultations have taken place and a Leadership Advisory Circle has been established, with the majority of members being local Indigenous leaders and entrepreneurs, adds the release.