New innovation hub to help Black entrepreneurs grow businesses

A new innovation hub in Waterloo region will focus on helping Black entrepreneurs grow their ideas into businesses.

The Waterloo Region Black Innovation Centre was formed by members of the Caribbean Canadian Association of Waterloo Region (CCAWR) with the goal of encouraging and supporting local Black entrepreneurs through mentorship, funding and acceleration programs.

“We’ll serve as a launch pad to increase the number of Black-led businesses,” Vincent Bowry, co-founder of the innovation centre told The Morning Edition Wednesday.

New entrepreneurs, for example, will learn the skills needed to start and grow their business through mentorship and coaching supports with the centre’s lift off incubator program, Bowry said, who’s also a board member with the CCAWR.

“For 12 months, entrepreneurs will receive hands-on mentorship and supports in a number of different areas, like identifying their ideal customers, and validating their ideas in how to grow a profitable business,” he said.