From Advocacy to Action: How Canada’s $189 Million Fund Will Empower Black Founders
When the Government of Canada announced its renewed $189 million investment to support Black entrepreneurs, it represented more than a funding announcement. It was a statement. A declaration that Black innovation matters and that the future of Canada’s economy must include the voices, ideas, and leadership of Black founders.
For Nobellum, this moment resonates deeply. We have been in the rooms, on the calls, and at the tables where this conversation began, advocating for equity in innovation and ensuring that Black founders in STEM and technology are not only part of the story but leading it.
From Advocacy to Policy
The $189 million renewal of the Black Entrepreneurship Program marks a new chapter in Canada’s commitment to inclusive innovation. The fund extends essential support through three main streams:
The Loan Fund provides capital of up to $250,000 to help Black entrepreneurs start, scale, and grow.
The Ecosystem Fund strengthens Black-led organizations, incubators, and accelerators that mentor and empower founders.
The Knowledge Hub gathers data and research to track impact and guide future policy.
Since the program’s inception, more than 24,000 Black entrepreneurs have been supported across Canada, with over $70 million in loans distributed. Behind these numbers lies a movement that Nobellum and its partners have helped champion from the beginning—ensuring that Black innovators in STEM and technology are recognized as a driving force in Canada’s innovation economy.
Building the Infrastructure of Black Innovation
Nobellum set a bold 2025 mandate: to support the launch of at least 100 Black-owned businesses in STEM. Today, that goal has been exceeded.
✅ 121 businesses launched
✅ 9,000+ founders impacted
✅ 250+ jobs created
✅ $20 million in revenue generated
✅ 36 national and international partnerships formed
✅ $200,000 University of Toronto Scarborough Endowment Fund
Through the Nobellum Innovator Program and the annual, we have built an infrastructure that connects founders to the mentorship, funding, and visibility needed to succeed.
Our ecosystem continues to expand through initiatives such as WISE (Women in STEM Entrepreneurship), which empowers women-identifying founders with mentorship, technical upskilling, and investment-readiness support. Alongside this, the Growth Stream Accelerator helps high-potential, Black-led STEM ventures scale beyond the startup stage. Each Growth Stream cohort receives over $200,000 in resources, executive coaching, investor access, and strategic support to help companies move from $100,000 in annual revenue to $1 million and beyond.
Applications for the 2026 Growth Stream Cohort are now open until January 4, 2026. Founders who are ready to take their next leap can learn more and apply at nobellum.com/growth.
Why This Moment Matters
This renewed investment is not only about funding startups. It is about redefining who gets to innovate in Canada.
By investing in Black founders, the Government of Canada is investing in a stronger, more creative, and more inclusive future. Black entrepreneurs have always driven culture, technology, and community. Now they are being positioned to drive Canada’s next wave of innovation and economic growth.
For Nobellum, this moment confirms what we have always believed: equity in innovation is not charity, it is strategy. Our focus remains on designing programs, partnerships, and pathways that make this investment meaningful for founders who are building the future.
Looking Forward
This fund represents a beginning, not a conclusion. The real work begins with ensuring that capital, mentorship, and opportunity reach every founder who needs them.
At Nobellum, we will continue collaborating with policymakers, partners, and entrepreneurs to turn funding into futures. We will help founders scale their impact, attract investment, and create jobs that strengthen Canada’s economy.
Our message is simple: Black innovation is Canadian innovation.
Join the Movement
If you are a Black founder ready to scale your STEM or technology venture, or a supporter committed to advancing inclusive innovation, join the Nobellum community.
Becoming a Nobellum Member means joining a growing network of founders, mentors, and partners who are shaping the future of Black innovation in Canada. Members gain access to:
Exclusive programs and accelerator opportunities
Early invitations to funding initiatives and partnerships
Insight-driven data, resources, and research
Mentorship from executives and innovation leaders across Canada
🌐 Join Nobellum Membership today at www.nobellum.com/membership
Together, we can move from advocacy to action and continue building an innovation economy that reflects all of Canada.
