The early-stage ventures of Indigenous entrepreneurs are set to receive a boost through a $50,000 donation from Scotiabank to United College at the University of Waterloo. This contribution will help Indigenous entrepreneurs transform their ideas into sustainable realities.
This donation will directly support FlintHub, United College’s recently launched Indigenous entrepreneurship incubator. FlintHub, which launched in 2023, provides essential infrastructure and a thriving community rooted in Indigenous knowledge, values of kinship, abundance, and reciprocity. This support is crucial for Indigenous entrepreneurs as they pursue their aspirations.
The funding provided by Scotiabank will be awarded directly to FlintHub participants at pitch competitions. The final pitch will be in April 2025 and will bring together aspiring entrepreneurs to showcase their ideas and impact. Securing funding through pitch competitions is critical for scaling ideas, building lasting networks and relationships, conducting market research, and building momentum for the next stage of growth and expansion.
FlintHub has already awarded approximately $20,000 in funding to support three ventures prior to this donation. FlintHub participants will also benefit from access to networks and mentorship opportunities through Scotiabank, including a visit to their office in Toronto, leading up to the pitch competition. This collaboration was designed by Scotiabank and FlintHub based on the needs of FlintHub and the entrepreneurs.
Ashley Richard, Director of Indigenous Entrepreneurship at United College said as FlintHub expands its programming across Canada, continued involvement and contributions would play a pivotal role in scaling up ideas, ventures, and impact. She said the goal was to become the number one incubator for Indigenous entrepreneurship in Canada.
“Empowering Indigenous entrepreneurs by surrounding them with community, culture, and ceremony is at the heart of our program’s framework. This relationship with Scotiabank allows us to expand the amount of funding we are able to award our entrepreneurs. Scotiabank is also offering 1-1 mentorship to the cohort, so their commitment to our program is extremely meaningful,” Ashley said.
Collaborating with a diverse range of established organizations and leaders will help participants tackle real-world problems more effectively, creating life-long connections that will support Indigenous entrepreneurs in growing their impact for years to come. In 2023, United College also launched a Diploma in Indigenous Entrepreneurship, a 6-course programme offered through the University of Waterloo in partnership with post-secondary institutions across Canada in communities with traditionally high Indigenous populations.
“We are thrilled to support Indigenous entrepreneurs through FlintHub. At Scotiabank, we believe in the power of community and the importance of nurturing innovative ideas that can drive meaningful change. Our commitment to this program reflects our dedication to fostering diversity and inclusion within the entrepreneurial ecosystem, and to creating trusted relationships with Indigenous communities,” said Pamela Hilborn, Senior Vice President, Head of Design & Digital Product, Scotiabank.
Principal at United College Rick Myers thanked Scotiabank for their generous donation and said it would help to strengthen the college’s commitment to empowering Indigenous entrepreneurs through FlintHub.
“By providing critical funding, mentorship, and opportunities to showcase their ideas, we are helping to foster sustainable, community-driven businesses. This collaboration is a testament to the power of partnership in creating lasting impact and advancing Indigenous innovation,” Rick said.
For more information, contact Ashley Richard at ashley.richard@uwaterloo.ca.