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Spotlighting BIP mentors: The impact mentorship has on your business growth trajectory

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Spotlighting BIP mentors: The impact mentorship has on your business growth trajectory

Mentors can be some of the most important people that accompany you on your business journey, and can play an influential role in the success of your business. 

Generally, the most effective business mentors possess similar characteristics: they provide constructive feedback, they’re approachable, and they’re willing to listen. 

But perhaps most importantly, good mentors have had real-life business experiences full of trials and errors, allowing them to provide new entrepreneurs with unique perspectives when growing a business.


More about the BIP Social Impact Stream

Last year, Unilever Canada and the DMZ launched the inaugural cohort for the Black Innovation Program’s (BIP) Social Impact Stream: a 6-month business incubator program designed to support Black entrepreneurs with a social mission. 

The program allows entrepreneurs to tap into lucrative industry connections and growth resources, which includes getting access to mentors from a diverse range of backgrounds and industries.

Whether it’s offering business advice to new founders or providing personal development guidance to entrepreneurs, our mentors have equipped socially-driven organizations with the counsel needed to generate company growth while accelerating their ability to create meaningful change and contribute to their core mission.

Today, the spotlight is on our program mentors. Hear how these leaders play a vital role in the success of founders in the BIP Social Impact Stream.


Shared learnings from mentors support progress

Mentor - Steve EhounouSteve Ehounou, Partner at MNP’s Assurance Services, specializes in advising other entrepreneurs on accounting, finances, tax and delivering business advisory services. His main goal is to help them optimize their financial activities to execute their business plans.

“I have met some very talented entrepreneurs through this program. I’m impressed to see the level of sophistication and proactiveness in the way they address existential needs and issues within our community,” he says.  

Steve says that mentorship is key in entrepreneurial undertakings. “The business environment is complex. The share of knowledge, failures and success experienced by mentors is an important ingredient in preparing the success of new entrepreneurs.” 

Steve says advice he gives founders is to “build a trusted team around you that meets your strengths and makes up for your weaknesses.” He also emphasizes the importance of acknowledging personal failures and using them as an opportunity to bounce back and grow stronger.

“The business environment is complex. The share of knowledge, failures and success experienced by mentors is an important ingredient in preparing the success of new entrepreneurs.” 

Mentors provide a completely unique perspective 

Mentor - Natoya AbiolaNatoya Abiola, Founder of Zenwork Wellness Solutions, advises founders on customer discovery, storytelling and go-to-market strategy. She has found in her personal experience that founders often overlook the importance of these areas, but firmly believes they are crucial to any startup.

“My experience as a mentor has been eye-opening and rewarding. I am inspired by the works of the founders who consider themselves ‘regular people’, yet are bravely tackling challenges like hunger, poverty, inequality, and responsible consumption within their communities.”

Natoya encourages early-stage entrepreneurs to pick up the phone and call potential customers to understand the challenges they face. “This is the best way to tailor your solution to deliver value,” she explains. 

Although startups may face rejections, Natoya adds it’s a great way to develop leads. “Founders must become intimate with the problem they are solving to render the best solution. The best way of understanding these pain points is to speak directly to the people affected.

“My experience as a mentor has been eye-opening and rewarding. I am inspired by the works of the founders who consider themselves ‘regular people’, yet are bravely tackling challenges like hunger, poverty, inequality, and responsible consumption within their communities.”

Leverage the experience and connections of your mentors

Mentor Eric InEric In, Director of Investments at Dragonfly Ventures, specializes in technology, renewable energy, tourism and hospitality, and food e-commerce. He advises founders from early-stage to late-stage on strategy, fundraising, risks and challenges related to growth.

“It’s a pleasure to connect with my mentee. We have exciting and passionate discussions about connections to potential partners and investors, comparable initiatives, and how we can impact food waste and food insecurity” Eric says.

Eric highlights the importance for Black founders to have access to a community of mentors to thrive. “I truly believe that the success of founders is amplified when building strong relationships with experienced people who can help test ideas, and provide advice and connections when needed.”

“This is even more true for Black founders who may not have been given the same connections and level of access to advisors and experienced mentors.”

Eric says that the best piece of advice a founder can equip themselves with is, “surround yourself with people who are knowledgeable in fields you cannot leverage, people who are well-connected, and people who align with your mission and values!”

 

“I truly believe that the success of founders is amplified when building strong relationships with experienced people who can help test ideas, and provide advice and connections when needed.”

Mentors can be your best asset

Mentor Baba AjayiBaba Ajayi, Founder of Andie, specializes in product launch, business plan development, and sales strategy.

“My experience as a mentor with the BIP Social Impact Stream has been fantastic,” Baba says. 

“Jesina Studios, the company I was advising, is working on something near and dear to my heart in terms of providing support to new immigrants and refugee women. Sam and Lexi, the founders of Jesina Studios, have a remarkable story and vision for the business.”

Baba explains the best piece of business advice he’s received is as follows: “The only thing that matters is making things happen at the beginning. You don’t want to get yourself bogged down in tasks that don’t deliver an actionable result. If it’s a product, launch it. If it’s an app, launch it. See what happens.”

When asked about the importance of providing Black founders with access to a mentorship community, Baba emphasizes that such an asset is absolutely crucial to any startup or new business. 

“It is especially crucial for Black founders. They are often short on resources, and the room for mistakes is very small. That’s the role mentors play.”

“The only thing that matters is making things happen at the beginning. You don’t want to get yourself bogged down in tasks that don’t deliver an actionable result. If it’s a product, launch it. If it’s an app, launch it. See what happens.”

Interested in learning more about BIP Mentors and the Social Impact Stream fuelled by Unilever Canada? Read more here.

Podcast advertising: Your startup’s next secret weapon

To celebrate our women-identifying founders, we’ve put together ‘On Wednesdays, we startup’, a blog series dedicated to putting women founders center stage to acknowledge their work, complexities and wins!

We hope to push women-founder stories forward and share lessons learned and insights for other aspiring women entrepreneurs.

For this week’s feature, we handed the reins to Rand Abou Ras, the Founder and CEO of uCast and expert in startup development, to learn about podcast advertising and why more startups should be turning to the underrated advertising method.

Guest blog: By Rand Abou Ras, Founder and CEO of uCast

Podcast advertising is not new, but it has become increasingly popular as more people have turned to podcasts as their choice of media throughout the pandemic. I’m sure my fellow podcast junkies have heard a GoDaddy or Better Help ad once or twice while listening to their favourite series.

Podcast advertising is a great way for startups to get visibility. In this blog, I’ll share more about how podcast advertising works, why startups should consider leveraging it, and how uCast makes podcast advertising easy.
podcast station with imac headphones and microphone

Podcast advertising 101

There are a couple of different models to consider when exploring podcast advertising rates.

  • CPM (Cost Per Mille), the most common model, is a host-read ad that’s determined by the show’s number of listeners and their rate per 1000 listeners. A CPM campaign is shown to generate the highest conversion rate over time because of its direct ‘host-to-consumer’ approach.
  • CPA (Cost Per Acquisition) is an affiliate model that larger retail and consumer brands most commonly use. With CPAs, a podcaster is paid a commission for every sale they secure through the use of promo codes. While this may be seen as a ‘safer’ avenue, results show that CPA models lead to low conversions.
  • Hybrid is the ideal model for startups that are new to the space and are looking to experiment. The hybrid model consists of a CPM fee and commission for each secured sale. So, startups would be paying a fixed fee for the campaign, and commission on each conversion made by the host.
  • Programmatic advertising is a model that automates the buying and selling of online ads. This is the same model YouTube adopts for their ad campaigns. Ads are inserted into the podcast audio randomly for each individual listener based on their demographics.

Startups and podcast advertising

Podcast listenership is growing at a steady pace, and the pandemic has supercharged its growth. Podcast advertising is a great way to get your message in front of an audience who will actually listen. Today, 78% of podcast listeners approve of podcast sponsorships and 67% can accurately recall the brands featured.

Podcasting has created a community amongst consumers and offers a personalized experience, making it the ideal environment to target ads to your audience. Plus, it’s still in its infancy, which diminishes ad avoidance and competition. For startups, it’s one of the most cost-effective and best-converting forms of advertising. Other advantages include story-telling capabilities, cross-promotion opportunities, and high audience engagement.
two women sitting at a podcast table with a microphone and laptop with flowers in the background

Where uCast comes in

 uCast is a marketplace and ad management platform for podcasters and advertisers to launch ad campaigns quickly, safely, and accurately. Our mission is very straightforward; we aim to simplify how podcast advertising works today.

It should be easy for podcasts to sell ads, and it should be even easier for advertisers to find the right podcast to advertise on. We plan to be the go-to marketplace for podcasters and advertisers of any size and on any budget.

Our platform uses a matchmaking algorithm to connect the right advertiser to the right podcaster with the highest ROI potential. With the majority of existing solutions solely focused on maximizing revenue, uCast helps advertisers maximize ROI, and addresses common pain points for advertisers and podcasters like ghosting, lack of communication, ‘scammy’ behaviour, and trust.

We are redesigning the podcast advertising process. uCast is designed to instill trust, communication, and provide a ‘podcast-advert’ fit. We focus on matching campaigns with podcasts that will generate the highest ROIs based on numerous factors. Furthermore, we are investing in a rating system for podcasters and adverts to provide transparency for both parties.


Join uCast’s waitlist to access over 15,000 podcasts, and get your first two episodes for free by filling out this form.

 

You can also head over to our website to learn more, or reach out to Rand directly here.

Startup legal 101: 8 common mistakes you might be making

This is a DMZ guest blog by Konata Lake and Edward Fan of Torys LLP

Portrait of Edward Fan in Business wear featuring a grey blazer, a checkered red tie, and a white button-up.
Edward Fan
Portrait of Konata lake in business wear with blue tie, black blazer, white button-up and glasses
Konata Lake

 

As startup lawyers, we work with founders across all stages of growth — from incorporation, to raising the first funding round, to IPO’ing or being acquired. We provide strategic and legal advice to startups as they grow, giving market perspectives and connecting clients with the broader ecosystem, including VCs and other advisors. 

Unsurprisingly, there are many legal issues that arise as your company scales. While it is your legal counsel’s job to help you navigate those obstacles, it is important to understand what may lie ahead. It is much cheaper and more time efficient to get things right at the outset rather than fixing expensive mistakes down the road.

Let’s walk through some of the most common legal issues that startups face, and how you can avoid them.

#1 – You don’t have the correct legal structure in place


A common question early-stage founders have is whether incorporating their company is worth the money—especially when they are bootstrapping, or in cases when funding is low. The general answer to this question is: yes, it is important to incorporate your startup as soon as possible.

When you incorporate your company, it will help ensure that all the work done is held in and owned by the corporation (reducing potential diligence issues later during funding rounds), and that the liability and risks of operating the business are with the corporation and not with you personally as founders. 

For example, if you are hiring an employee or contractor, you will need to make sure that the IP they create rests with the company and that a formal agreement between the corporation and the employee accomplishes this. To enter into this kind of agreement, you need a corporation. 

Another reason you should incorporate your startup early on is to better attract investment. VCs will expect your company to be incorporated on market standard terms, so being properly set up makes you much more appealing to investors.

When deciding the best legal structure, it is important to determine where you want to operate and whether you have any plans for expansion, as this will determine if you should be federally or provincially incorporated.


person signing contract

#2 – Your startup doesn’t own all its intellectual property (IP)


Not clearly showing that your company owns its IP can be a deal breaker for investors. A significant portion of your startup’s value comes from your IP, and so you should make sure you are the proper owner. This means that your company—not you, your co-founder, advisor or employees—should own all the intellectual property that it is developing, and this ownership should be fully documented. 

Everyone who works for, advises or consults with your startup should sign an appropriate confidentiality and IP assignment agreement. As a founder, you are not exempt from this requirement: you will need to assign all IP, including any pre-incorporation IP, to the company. 

If you started working on your company as a side gig while being employed elsewhere, it is important to ensure that your previous employer doesn’t have any claim over the IP you developed during that time. 

Another mistake is not employing the correct IP protection strategy for the kind of tech you are building. For example, if you have a SaaS business, you are likely hyper-focused on protecting your source code, so you may keep parts of the code a trade secret. This differs significantly from what a D2C eCommerce business selling products through Shopify might consider, which would typically focus more on trademark protection of their brand and products.

#3 – You’re not documenting your equity distribution


One of the most common mistakes for founders, especially in the early days, is to promise equity to individuals or companies who are helping the company without properly documenting and tracking it. This can result in a misunderstanding of the company’s ownership should a liquidity event take place. 

To avoid this, it is important to track the distribution of equity. Common documents used for this are employment agreements, board resolutions, and option grant agreements. Equity granted to employees, advisors and consultants is often subject to vesting. Vesting means that equity will be granted/released to stakeholders on a pre-determined schedule, rather than in a lump sum. If an employee leaves before their equity is fully vested, they forfeit any unvested equity back to the company.
signing a contract

#4 – You’re not properly mapping out founder shares 


Founder shares need to be clearly documented. Don’t assume a 50/50 split or that a verbal agreement is enough. Unfortunately, disagreements among co-founders happen, including issues over ownership which can result in legal action. It is also important that vesting schedules are clearly documented and tracked, and that the recipients of the equity understand what the vesting requirements are. The standard vesting schedule for founder shares is four years with a one-year cliff. This means no shares vest for the first full year, 25% vest immediately following the one-year “cliff” period, and the remainder vest monthly or quarterly in equal installments until all the fourth anniversary of the vesting start date. 

Documents that are often used to show issuance of founder shares include a board resolution authorizing issuance of shares, a share purchase agreement or payment for shares.

You should also keep in mind that any options issued to employees should be properly approved by your board of directors and issued under a formal option plan. All options should be broken down and documented in employment agreements and option grant agreements. The standard vesting schedule for employee options is the same as that for founder shares.

#5 – You’re not complying with securities law


Every bit of equity in your startup needs to be issued in accordance with a valid securities law exemption. This means that, depending on the relevant exemption, you may need to prepare and file certain reports with the securities commission or pay related fees. 

Most startups rely on the “friends and family”, accredited investor or private issuer exemptions; however, it is important to have a solid understanding of what these exemptions entail.

 

#6 – You don’t consider how your first financing round can impact future rounds


You need to not only consider the legal and economic implications of your first financing round but also how the structure of that inaugural round can impact your ability to close future financings.

You should be focused on what rights are being granted to investors in these early-stage rounds, as mistakes can haunt a company going forward. For example, if you agree to a liquidation preference that is greater than 1x, or if you grant a preferred share class seniority over other preferred share classes, that is likely to be replicated in future rounds. Counsel with VC experience will help you avoid these pitfalls.

woman working in office#7 – You’re complicating your cap table with multiple valuation caps


Adding a valuation cap is a common way to structure convertible securities (convertible notes and SAFEs). Under this structure, investors cannot get less ownership than what’s calculated by taking their investment amount and dividing it by the valuation cap. However, having multiple valuation caps complicates your cap table. 

That is because of a combination of unfair economic treatment of investors and the nuances of corporate law. Your counsel should advise you on how to avoid this issue, or how to resolve it if it’s already happened.

# 8 – You’re not fully complying with employment laws


One of the most common diligence issues we come across is the misclassification of contractors as employees. The contractor versus employee distinction is based on several factors, including the nature of the working relationship, the level of control the contractor/employee has, and ownership of tools and equipment. 

Misclassifying contractors as employees will make you liable to the Canada Revenue Agency for failing to make the proper source deductions. In addition, you may become subject to claims from misclassified employees. 

 

Are you a startup founder with legal questions for Torys? Reach out to get your questions answered. 

 

This article appears on Torys’ Startup Legal Playbook: a guide to issues founders face as they grow their company, from ideation to exit. For more actionable insights on operating your startup, raising capital, building a team and going cross-border click here.

10 gift ideas we love from BIPOC-owned businesses

Looking for the last gift on your holiday shopping list this year? The DMZ’s Holiday Gift Guide will help you cross off any last minute presents, and support small BIPOC-owned businesses from across Canada!

Here are our top picks for the holiday season that we guarantee will bring a huge smile to your loved ones faces.

Girl Gang Strong

This holiday season, gift the teen in your life Girl Gang Strong’s Christmas holiday gift box! The Girl Gang Strong boxes feature 5-8 specially curated self-love, self-care goodies including skincare products, phone accessories, stationery, and jewelry.

Mahara Mindfulness

Featured on Oprah 2021’s Healthy Living List, and POOSH, the Human Being Journal by Mahara Mindfulness is perfect for the busy go-getter seeking mindfulness practice to help decrease stress and enhance well-being. With guided questions rooted in the fundamental pillars of a happy life, the 12 month guided journal provides a deeper sense of being. Plus, the DMZ community is eligible to receive 15% off!  Use the code ‘DMZ15HBJ’.

Organic Bytes

For the foodie in your life, why not get them a sweet treat from Organic Bytes? Their cakes are free of refined sugars and white flours, making them the perfect zero-guilt option for the holiday season. Plus, they offer vegetarian, vegan, gluten-free and lactose-free options!

 

It’s Souper

It’s Souper’s afro-fusion gourmet soup and sauce line is the perfect gift to share among food enthusiasts.From meat lover’s chili to vegan roasted carrot and paprika soup, their delicious recipes made with high-quality ingredients have been featured on Dragon’s Den and Go Solo.

New Pie Co.

Give the gift of baked goods this season! Made for pie lovers by pie lovers, New Pie Co. offers handcrafted pies, cinnamon buns, thai iced tea meringue, ube swirl buns, and more. Their mission? Create a memorable pie experience through creative flavours and thoughtful presentations!

Blair and Jack

For the skincare guru on your list, Blair and Jack offers physician-developed skincare products specifically formulated for men. Receive a 10% discount by signing up for their subscription service at checkout!

NeoJuicery

For the health nut on your list, check out NeoJuicery’s cold-pressed, never pasteurized, micronutrient juices. Made with local and organic ingredients sourced from Ontario, their juice packages support fasting goals, boost immunity, reduce inflammation, and are 100% zero waste!

Najj Hair

The perfect gift for any fashionista looking to refresh their look, Naij Hair offers luxury ready-to-wear hair extensions and wigs. Designed for Black women, by Black women, their wigs arrive fully customized and can be heat styled and coloured.

Wabanaki Maple

Authentic indigenous maple syrup, Wabanaki Maple, offers a wide range of maple products that offer a twist on familiar tastes. Their products are naturally refined, offering three signature flavours, each handcrafted and aged in small batches!

Floofy Pooch

Shopping for a pet parent? Check out Floofly Pooch’s dog accessories. From leashes,bandanas, harnesses, collars and more, there’s something for everyone’s furry friend! From now until Christmas, Floofy Pooch is offering 20% off all dog bundles. 

Looking to harness your entrepreneurial spirit in 2022? Applications for the DMZ’s Incubator and Pre-Incubator programs are now open.

 

Head over to the DMZ’s website for full eligibility requirements and program information. 

Tackling Canada’s supply chain challenges head-on

Learn how these DMZ startups are harnessing AI to build world-leading supply chain solutions


It’s no secret the world is grappling with some serious global supply chain issues. Since the onset of the pandemic, supply chains everywhere have been impacted – leading to product shortages and jacked up prices. 

You’ve probably noticed there are a few things on your holiday shopping list that are out of stock. Retailers and businesses everywhere are feeling the squeeze, and it’s only going to get worse if we don’t look to innovative tech-powered solutions. 

So, what is going on and what are we doing to help Canada ease some of its supply chain chaos? We’re glad you asked. 

Since March 2020, the world has experienced multiple waves of lockdowns, meaning factories everywhere have had to shut down for weeks or even months at a time. This has led to massive bottlenecks in our supply chains, with manufacturing disruptions and shipping delays. 

To say our supply chains are in utter havoc would be a gross understatement, but if there’s anything we have learned about our DMZ startups, it’s that they love a good challenge. 

We sat down with startups from our Supply AI Program to get their take on what’s going on and to learn more about their AI-powered solutions that are working to help.

A high-tech and low-cost provider of industrial and infrastructure construction materials, Material Supply leverages technology to make it effortless for buyers to get the best prices. 

Headshot of Andrew Allen, the Founder and CEO of Material Supply
Andrew Allen, Founder and CEO of Material Supply

Andrew Allen, Founder and CEO of Material Supply, points to the slow rate of technological adoption as one of the biggest challenges in supply chain management today. 

“The rate of adoption to more efficient technologies and antiquated business models is too slow today.” 

By offering a complete and easy-to-use procurement solution that creates efficiencies from manufacturer to end user, Material Supply is working to pioneer how we tackle global supply chain challenges.

“The rate of adoption to more efficient technologies and antiquated business models is too slow today.”

The first automated consulting management system uniting consultants and clients, Indie Tech gives procurement teams the tools to monitor, manage and mitigate supplier risk by tracking the performance of their suppliers in real-time.

Sophia Stone, Founder and CEO of Indie Tech, attributes a lot of today’s supply chain management issues to data and transparency. 

Headshot of Sophia Stone, the Founder and CEO of Indie Tech
Sophia Stone, Founder and CEO of Indie Tech

“The keys to the future of the industry rely on better and more transparent ways of viewing data and managing suppliers across tiers with greater insights.”

Sophia highlights that the tools and quantitative framework Indie Tech provides for risk managers is working to solve supply chain issues by empowering users to act proactively. “We help suppliers better manage their risk, before they see disruptions.”

“The keys to the future of the industry rely on better and more transparent ways of viewing data and managing suppliers across tiers with greater insights.”

 

Netwila is an integrated freight application platform and service that leverages AI for forecasting, operations, and asset deployment.

Headshot of Bob Vuppal, the Co-Founder and VP of Products and Technology of Netwila
Bob Vuppal, the Co-Founder and VP of Products and Technology of Netwila

Co-Founder and VP of Products and Technology, Bob Vuppal, highlights the global pandemic has not only put stress on our supply chain networks but has exacerbated existing problems.

“There’s no real easy way for companies to manage their operations across transportation forms and geographies, primarily due to fragmented networks and legacy systems. We save our companies money, increase data management across nodes and modes, support operational management of data, contracts and shipping, and manage out-of-stock.

“There’s no real easy way for companies to manage their operations across transportation forms and geographies, primarily due to fragmented networks and legacy systems.”

While the world’s global supply chain crisis is a result of pandemic lockdowns, now is the time to take action to not only resolve existing issues in the network, but embrace new AI-powered solutions to ensure its resiliency to future disruptions.

 

If you are a Canadian AI venture creating world-leading supply chain technology and are interested in joining the DMZ’s Supply AI program, check out eligibility requirements and program information here.

Our next cohort starts in February 2022. Applications are open until January 23rd at 11:59p.m. EDT. 

DMZ founders have recovered over $1 million in tax savings through think.SRED

think.SRED, a DMZ partner and Professional-in-Residence, has helped founders recover more than $1 million in tax savings through the SR&ED program 


Earlier this year, our Professional-in-Residence (PIR) partner, think.SRED hit an incredible milestone in their work with DMZ founders. Since the inception of the DMZ’s PiR program in early 2020, think.SRED has helped recover more than $1 million for DMZ founders in tax savings for founders through submissions to the SR&ED program!

think.SRED's logo
think.SRED is dedicated to supporting startups along their journey to understand the process, application, and receipt of their maximum eligible Scientific Research & Experimental Development (SR&ED) credits. The company has confidently directed hundreds of Canadian technology companies while submitting more than $200 million in applications to the SR&ED Incentive Program.

In think.SRED’s experience, founders they’ve worked with have been previously told by other SR&ED advisors that they were too early-stage to apply for rebates, or that the work they were doing was ineligible.

Oftentimes, it’s not the case at all. think.SRED is in fact a company made up of passionate founders. The founders came together and found common ground in the general belief that there was a far better way for advisors in this space to approach their work and clients. 

And they were right – the applications that think.SRED has helped DMZ founders with have had a 100% success rate in securing tax credits for founders!

a group of DMZ startup founders celebrate a big win by hitting a gong

What are SR&ED credits?

The Scientific Research & Experimental Development credit program is a federal and provincial tax incentive program that uses tax incentives to encourage Canadian businesses of all sizes and in all sectors to conduct research and development (R&D) in Canada by refunding a substantial portion of development costs. 

The SR&ED Program provides more than $3 billion in tax incentives and cash refunds to over 20,000 claimants annually, making it the single largest federal program that supports business R&D in Canada. The program is administered by the Canada Revenue Agency (CRA).

These tax incentives come in three forms: an income tax deduction, an investment tax credit (ITC), and, in certain circumstances, a refund.

Why you should consider applying for SR&ED credits

With the help of the government backing your innovation, you can get your startup off the ground, finance future projects, and strengthen your competitive advantage. 

Even if your tech startup fails, it is still worth claiming SR&ED credits because you are given the chance to test your ideas in a way that may not otherwise have been possible from a lack of capital. 

By considering research and innovation projects, you can commercialize your tech internationally and create a competitive proposition value. 

think.SRED makes the process easy for you

“think.SRED was an awesome team to work with. They helped us overcome multiple obstacles to complete our first-ever SR&ED return,” says Tyler Bryden, Co-Founder of Speak AI (DMZ alum). “They made it easy, and actually even enjoyable. We are very appreciative of their support and can’t wait to work with them again!”

think.SRED offers the companies they work with a full end-to-end solution: they educate to ensure your team understands the complicated process in simple terms to ensure the process gets easier each year. 

two startup founders meeting and looking at one laptop
They advise on the small details that will make a difference in the SR&ED process. think.SRED knows what CRA is looking for and how to ensure program compliance is achieved through hands-on support. As a founder, when you get selected to have your application reviewed, think.SRED is also by your side through the reviewal meetings with the CRA.

think.SRED’s team comprises experienced software professionals, legal experts,  accountants and scientists who offer advisory services in these areas.

“While we may first appear to be a group of friendly consultants that founders come to know and trust, we have a lot more in common with founders than they originally think,” explains John-Paul (JP) Belanger, President of think.SRED. “Like every DMZ founder who once had an idea that they felt was meaningful enough to not only pursue but go all-in on, the founders at think.SRED have that exact same experience.”

That’s why the think.SRED team’s relationships with early-stage founders mean that much more – they’ve truly been in your shoes and share the same passion to do something great for the world.

Who is eligible for the program?

Any company legally operating in Canada is entitled to receive the benefits of this incentive program. 

Companies with CCPC status (Canadian Controlled Private Corporation) and are considered a small business for tax purposes are also entitled to the highest possible benefit the program offers. 

A common misconception is that SR&ED credits are only accessible for large companies. In reality, the credits are available for companies of any size, as well as solopreneurs or sole proprietorships. This allows startups from any stage of their lifecycle, from pre-revenue to commercialization, to tap into this resource.

It doesn’t matter how you’re generating revenue either. If your company is pulling money from investors or customers, it does not affect the success of your claim. Instead, SR&ED is tied to the expenses – as long as you’re spending, you can claim.

You can view more information about the program’s eligibility here.

startup founder taking notes

When should I claim my credits? 

Companies must file their SR&ED report with their corporate tax return forms. This means SR&ED reports are due no later than 12 months after your fiscal year-end, or 18 months after the end of the tax year that you incurred your R&D expenditures. 

think.SRED is available to DMZ companies to help jump-start this process. 

“We are very proud to share our results helping DMZ founders, not only because we know that our unique approach contributed to this level of success, but because of how much we admire the founders within the DMZ that have chosen to trust us with this essential part of their business journey,” explains JP.

JP promises that think.SRED does far more than “SR&ED advisory”, but that every founder they work with receives unrivalled customer service, comprehensive expertise, and real-world software development experience.

“We’re thrilled to have the opportunity to continually support the DMZ and the amazing up-and-coming startups that we’ve come to know.  If you think your company might benefit from an SR&ED submission, or you just need a bit more information, be sure to reach out to think.SRED,” adds JP.

If you are a founder interested in learning more about SR&ED credits, check out think.SRED or our programs to learn how you can access PiR services through the DMZ. 

 

 

Startup culture post-pandemic: What’s changed, and why we’re excited

Hear from founders at the DMZ and Entrepreneur First about how the pandemic influenced the startup world, and what the future of business and work looks like moving into our new post-pandemic norm


The pandemic transformed entrepreneurship and the professional work environment as we know it.

But now as restrictions lift and the world shifts into its “new normal”, we’re coming into a clearer vision for the future of work. That certainty brings a huge sigh of relief to many founders, and they’re excited to hit the ground running. Entrepreneurs, by nature, need to be able to connect in a physical presence – that’s ultimately how the world’s greatest innovations come to be.

Four founders at various stages of startup growth reflect on their experiences as entrepreneurs over the last couple of years and share why going back to the office is helping them grow and evolve their startups’ working styles.

three startup founders sitting at the DMZ in a meeting looking at a laptop

The pandemic spurred a wave of first-time entrepreneurs

A new study this past June revealed that one in five Canadian entrepreneurs started their business within the past year. Those who started their business during the pandemic did so due to reasons like having more spare time, financial pressures from the pandemic, and being laid off.

entrepreneur first logoThe desire to create impact through entrepreneurship rather than travel a more traditional career path resonated with Grigoriy Kimaev, a Ph.D. graduate. His interest in entrepreneurship piqued further when he heard about Entrepreneur First (EF), a talent investor that runs cohorts in six cities across the globe with a location in Toronto as of last year. 

Fast forward to this year, Grigoriy is now a Founder-in-Residence in EF’s second cohort, following through on his entrepreneurial ambitions.

Grigoriy credits his desire to build a business to the profound societal change brought on by the pandemic. “People and companies were far more eager for change during the height of the pandemic than in low-stress times… I felt I’d hate myself if I didn’t try to build a venture,” Grigoriy said. 

Despite the uncertainty of the pandemic, Grigory was excited to embark on the entrepreneurial journey at EF with like-minded people who were equally ambitious and ready to build.

Back to environments that spark innovation and productivity

Those who became entrepreneurs during the pandemic had a unique experience. While many had more spare time to devote towards building a business, remote work and isolation had their disadvantages. For one, entrepreneurship can be a lonely endeavour. But beyond that, building a startup in the early stages requires collaboration, networking, and access to mentors. 

Furthermore, it’s no easy feat for small teams to be productive in a virtual arrangement, especially when they’re new. Some aspects of running a business simply can’t be replicated in a remote setting. Building team spirit, forming peer-to-peer connections, and managing people in general can pose challenges when done virtually, and that’s why so many startups founders have eagerly awaited a return to normalcy. 

headshots of founders from entrepreneur first toronto
This year, MaRS became EF Toronto’s home. For Grigory, the atmosphere of the office has helped him feel recharged, being surrounded by enthusiastic and motivated fellow founders. Grigory describes it as a “spirit of innovation” that’s immediately felt after passing through EF’s doors. If you’ve got a great business idea and you’re ready to find a co-founder like Grigory, Entrepreneur First is currently accepting applications for their next cohort until December 12. 

 

Working IRL (in real life) with your team is essential when growing a company from the ground up

Like Entrepreneur First, the DMZ was eager to welcome founders back this fall after nearly a year and a half of being closed, and DMZ founders have also felt the immense benefits of being able to work on their startups, alongside their teams and other founders, in a physical presence.

Two Co-founders, Sarah Rennick and Cherry Xu, had been living three time zones apart when building and launching their company Alli during the pandemic, Sarah in Toronto and Cherry in Vancouver. Once the DMZ re-opened, Cherry hopped on a plane and made the trek across the country to finally be able to work with Sarah face-to-face.

“I wanted to work with Sarah in person and be able to meet the broader DMZ community,” explains Cherry. “It’s always exciting to meet others who are risking so much to pursue their passion.” 

Cherry adds that her move has helped productivity and having a sense of connection with others. “Working in the office is conducive to not only productivity, but it helps me mentally as well. Zoom can be draining and the human connection gets missed. Meetings are a lot more enjoyable in person.”

“Try as you might, organic conversations that happen in the office just don’t happen the same via scheduled calls!” Sarah adds.

One founder who decided to adopt a hybrid work model is Leonard Ivey, Founder of Softdrive. “Our team sees value in both the remote and in-person working environments,” explains Leonard, who was eager to start working in the DMZ space on a regular basis upon its re-opening this fall. 

founders sitting at desk pods working in the DMZ
“The DMZ’s atmosphere lends to increased productivity in many ways for the team, and communication is a lot easier when you’re a small team in a startup that’s growing rapidly. But as we expand our team at Softdrive, we also want to enable remote work and empower our team with a flexible work model.”

Creating smart co-working solutions that work 

Nimbus Learning, Mero Technologies and SingleKey met during their time at DMZ’s Incubator back in 2019. This past summer, the three companies made a decision to split co-working space as they came back to the office with their teams. William Liu, a Co-founder and the CEO of Nimbus Learning, shares how it’s been a game-changer in helping each startup thrive.

“Obviously, there are the cost benefits. Rent is quite a bit more affordable when you have three companies splitting the cost of the office space,” William explains. “Beyond that, I’ve seen growth happen amongst all employees of the three companies that share the space.” 

He also points out that working in the same space with other like-minded individuals promotes knowledge sharing. “Our teams – sales, client success, and marketing –  share ideas, processes, tools, and strategies with their counterparts at the other companies,” says William. He mentions that having late-night conversations with the founders of the other two companies has been tremendously helpful and an opportunity to share insights. 

four founders around a table talking at the dmz
“I think it’s a perfect setup for any startup that’s not quite ready to have their own dedicated space, but still wants a co-working space that’s cozier than something like a WeWork,” he adds.

At the end of the day, founders know that a certain kind of magic happens in a startup environment that can’t be experienced through a computer screen. 

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The DMZ has welcomed founders back to the space, and we’re ecstatic to say the least. Truly, there’s nothing like watching our founders build connections, reach milestones, and hit new levels of success, especially in person. We’ve now introduced a hybrid model, giving founders the flexibility to access the DMZ’s programming both in person and virtually. 

If you’re a tech founder ready to validate your business model, raise your first round of funding, and scale your startup, learn how DMZ’s Incubator can help.

If you’ve got a great business idea and you’re ready to find a co-founder, Entrepreneur First is the place to meet your match and hit the ground running. Don’t miss the chance to apply for Entrepreneur First Toronto’s third cohort. Applications are open until December 12, 2022. 

Winners announced for the DMZ and Penny Appeal Canada’s Hack Against Hate

Find out more about the teams of young Canadians who took home a collective $20,000 in cash prizes to further pursue their business ideas in the Hack Against Hate Challenge


There’s been a sharp rise in hate crimes across Canada these past few years, and it’s time to put a stop to it. In fact, Canada has seen a record high in police-reported hate crimes since 2009.

As Canadians, we tend to think our country doesn’t have these sorts of issues – but we must recognize the shortcomings in our systems, and collaboratively work together to develop solutions that mitigate hate in an effort to make our world a more safe, inclusive, and happy place to live.

In the wake of the rising number of hate crimes, the DMZ and Penny Appeal Canada teamed up to launch Hack Against Hate.hack against hate graphic The 4-day national competition took place between November 23rd and 26th and challenged young Canadians to brainstorm and build a prototype for a digital solution that combats hate crimes. At the end of the Hack Against Hate competition, a panel of judges picked the top 4 teams to each receive $5,000 in cash prizes.

The hackathon kicked off with 40+ teams. Each team went through professional training and mentorship on building and pitching a tech solution. Participants received hands-on support to ideate and build innovative anti-hate tech solutions and took part in expert-led workshops on design thinking, product development, UX/UI, customer discovery, pitching, and more.

Last Friday, the DMZ and Penny Appeal held the finals where the winners presented their solutions. The finals were open to the public and featured speakers from the DMZ and Penny Appeal Canada, as well as keynote speaker Nabeela Ixtabalan, the Executive VP of People and Corporate Affairs for Walmart Canada.

Naveed Tagari, Programs Specialist at the DMZ, and Nabeela Ixtabalan, Executive VP of People and Corporate Affairs at Walmart Canada

The DMZ awarded $20,000 in funding to help teams kick-start their solutions. While all of our winning teams were comprised of high school students, their solutions to put a stop to hate crimes were anything but juvenile. 

Check out the winning teams!

PROtectABot

Team Members: Arya Peruma, Harshul Gupta, and Peter Lee

PROtectABot is an AI-powered bot that filters hatred and educates users on harmful content on social networking platforms. 

“Discord is a very popular social networking app that has over 150 million monthly users. However, it does not have built-in or external systems to prevent hatred from spreading,” highlighted Arya.

“Discord is a very popular social networking app that has over 150 million monthly users. However, it does not have built-in or external systems to prevent hatred from spreading.”

Harshul explained how Discord played a large role in the deadly 2017 Charlottesville protests, as it was used to coordinate logistics and encourage violence for the rally. “Though at the time Discord cracked down on hate crimes, there is no real-time personalized moderation in Discord, which is exactly what we were hoping to tackle with this project.”

Social media icons

Pridtect

Team Members: Harsehaj Dhami and Samantha Ouyang

Pridect is a solution working to ensure pride parades are safe spaces. The app uses safe zone mapping and distress signalling. 

Haresehaj highlighted the rise in hate crimes at pride parades, and how some members of the LGBTQ+ community are left feeling scared to attend.  “So many different people from different backgrounds come together to unite for the pride they have for themselves. But it can be dangerous. Hate crimes at pride parades are at an all-time high.” 

“There is no tangible solution currently that is working to improve safety at pride parades. But we want to change that with our app. Parade-goers and organizers will now be able to obtain the utmost safety.”

“There is no tangible solution currently that is working to improve safety at pride parades. But we want to change that with our app. Parade goers and organizers will now be able to obtain the utmost safety.”

Specula

Team Members: Adam Omarali, Eamonn Lay, Colin Hill, and Navid Farkhondehpay

Specula is working to make people aware of racial biases before they post on social media platforms to reduce harmful psychological effects to others.

“Race is one of the biggest biases that lead people to commit hate crimes, and physical hate crimes are way more prevalent than online crimes,” explained Adam. 

Adam also spoke to how a lot of physical hate crimes today are actually driven by psychological bias. “Our explicit and implicit biases are shaped by the media. They impact how we view things. At some point, if you can express hate, these biases can come out in physical crimes.”

A man holding a sign at a rally that says, 'hate is a virus'.

Unhate

Team Members: Gabriel Bernal, Ryan Chan, Aryan Jha, Yelim Kim

Unhate is an AI tool that helps detect hate speech online and can be integrated into consumer apps and educational services.  

Gabriel spoke to the rise of hate speech and its unfortunate prevalence online around the world. 

“The internet was supposed to be something that would connect the world, but instead it’s leading some people to their death. This is exactly why we felt compelled to solve this problem.”

Unhate leverages over 100,000 categorized real tweets to train its AI models, allowing it to be extremely accurate with its services.

“The internet was supposed to be something that would connect the world, but instead it’s leading some people to their death. This is exactly why we felt compelled to solve this problem.”

Itching to transform your innovative idea into a real-life solution? Follow the DMZ on Instagram and Twitter for announcements on future hackathons!

Public relations 101: Our top 4 tips for success

The DMZ’s top 4 insider tricks for startup public relations success


Public relations (also known as PR) is a vital component for growth in any startup. PR helps you define your company’s narrative for the world by putting a spotlight on what your business provides as well as your success stories. 

For startups, good PR can drive brand awareness, put your name out in front of potential investors and partners, and help you become an industry leader.

Crafting a successful public relations strategy does not happen overnight. Laying the groundwork for a successful PR campaign takes time and love, which is why the DMZ is here to provide you with 4 of our go-to tips for PR success!

 

A startup founder working on PR

 

Ensure your brand and online assets are up to par

Before engaging with the media, ensure your startup is ready to show the best version of itself. That starts with an optimized website that effectively communicates who you are and what it is that you do. It is also important that your company’s social media features engaging content that is appropriate for your target audiences. 

Ask yourself, “Do I have a professional and clean website?” “Do my readers walk away with content that is worth the time they spent reading it?” Crafting a narrative for your brand at an early stage will elevate your media outreach efforts in the future.

public relations newspaper


Maintain a pulse on your industry

Media monitoring is an important part of managing how you, your competitors and/or your industry is being portrayed in the media. Google Alerts is a great free resource to scan the media for recent news and updates in your specific industry. This is one way to easily stay on top of conversations or advancements taking place in your field

Pro Tip: Add your company’s name, key updates you want to follow, and a few relevant competitors, to your Google Alerts.

If you’re setting up alerts for a health tech company, you can include relevant keywords. For example, try using ‘virtual health + Canada’, ‘e-health + Canada’, ‘digital health + launch + Canada’ , ‘competitor 1’, ‘competitor 2’  to keep an eye on industry updates and competitor milestones.

Twitter is also a great channel to monitor since most journalists are very active on Twitter. Not only do journalists amplify their own content, but they are connected to the topics and community that they cover. Take your media list one step further by following your target journalists on Twitter to monitor their content.

Make your media announcements meaningful

Have a story you want to share with the media? This is where media pitching comes in. A media pitch is an attempt to get a journalist or media outlet interested in your announcement so that they decide to cover it. Media outreach is traditionally done via email, but nowadays you can reach out to journalists via social media as well.

Ensure your announcement is newsworthy. Ask yourself these questions before you even begin to think about pitching to the media:

  • What makes my news actually newsworthy? How does it stand out from what competitors are putting out there?
  • Is my news presented in an exciting way that people will get people interested?
  • What’s a timely or enticing narrative you can tie into your announcement to elevate its attractiveness?

A startup team brainstorming PR

Be purposeful about crafting your media pitch

When it comes to media pitching, try to pitch journalists with a background in your sector. In the industry, this is called pitching to journalists with relevant ‘beats’. 

Avoid spraying your announcement to all journalists from major outlets. It’s important for you to take the time to research journalists who are writing about your beat and provide them with new perspectives or advancements in the space.  

Further, avoid attaching additional documents — unless absolutely necessary —within your pitch email. The less the journalist has to click through, the better. 

Never underestimate the power of your networks; remember to leverage them when amplifying an announcement. Provide your partners with the tools and assets they need to amplify the announcement, like social media sample posts, key messages, graphics, etc.

woman working on PR strategy
Final considerations

When looking at public relations as a strategy for your startup, ask yourself, “What is my goal in gaining PR?” Is PR a vital component of your growth because it can lead to more customers in your funnel, or are you viewing media exposure as a vanity metric? 

Oftentimes, founders look at media coverage as a silver bullet for non-related issues they may face:

  • An article in a major publication will help us acquire investment 
  • Having more “As seen on” logos on our website will help us close deals 
  • My competitors are featured in the news, so I should be too 

This is not PR as a core strategy, but the need for PR driven by fear: fear of not getting investment, losing deals, or dragging behind your competition. This is often why most startups’ PR efforts fail because it is not viewed as a means to an end, but the end goal itself. 

Understand that if you are looking at PR as a strategic objective, you are committing to focusing on it just as you would if you were to begin fundraising, hiring, or growth. Part-time focus will give your startup part-time results.

 

Looking for more PR or marketing support? Check out our programs for more insights into the support we provide our founders.

These social impact startups are changing the world for the better

Introducing the Black Innovation Program Social Impact Stream and its inaugural cohort of startups


Social entrepreneurship has become a rapidly-growing approach to business, and for a good reason – social entrepreneurs are pioneers focused on tackling some of the world’s biggest societal issues. 

Together, Unilever Canada and the DMZ have launched the Black Innovation Program’s (BIP) Social Impact Stream: a 6-month business incubator program designed to support Black entrepreneurs with a social mission. The program allows entrepreneurs to tap into lucrative industry connections and growth resources to build on their existing solutions and ultimately drive impact in Canadian communities.

Over the course of the 6-month program, socially-driven organizations are equipped with the tools, mentorship and community needed to generate company growth while accelerating their ability to create meaningful change and contribute to their core mission.

Hear from the founders of companies in the inaugural cohort of the BIP Social Impact Stream on how they’re working to drive social impact, and what they’re hoping to achieve for their organizations over the course of the program.

 

B12Give creates a circular economy redistributing lost or wasted surplus food along the supply chain to food-insecure communities and support agencies across Canada. Tony Colley, the company’s Founder and CEO, explains that B12Give leverages a sustainable, tech-based solution to lower the overall cost of food waste, reduce GHG emissions, and reduce the overuse of our natural resources while feeding millions.

The company has big plans they’d like to accomplish over the next six months. According to Tony, the company hopes to scale the app across the GTA, expand its executive team, activate partners with locations in different markets, and secure an angel investor.

 

Detailing Knights provides an eco-friendly and waterless mobile auto detailing and car cleaning service. In terms of driving impact, Ryan Knight, CEO, explains the company’s purpose goes beyond just car detailing.

“What we are most proud of is our Youth Entrepreneurship training program, which empowers youth coming out of detention an opportunity to run their own detailing business while exploring various areas of entrepreneurship.”

Ryan explains that the company’s next objectives include creating a roadmap for a new product line and upskilling their current team. “Doing this helps us bring in support to fine-tune our operations in preparation for licensing our brand outside of Ontario, across Canada, and into the U.S.”

 

EduCare’s global mission is to improve graduation outcomes for students with disabilities through a tech-enabled platform that connects colleges/universities and health care providers. Fowzia Mahamed, the company’s Founder, explains that the company provides an opportunity for schools to improve graduation rates for students with disabilities. 

The company hopes to develop its knowledge base in building a go-to-market strategy, including a pilot for licensing the software as a service platform in collaboration with colleges/universities and community health centres.

Over the next six months, Educare aims to set up a pilot with two colleges and community health centres and to license a beta version of the EduCare software as a service platform.

 

eimhe is a wellness management platform for the workplace. Jefferson Roc, the company’s Founder, hopes to increase emotional intelligence amongst people and their communities.

“I applied to the BIP Social Impact Stream because I believe our concept can help solve challenges around mental illness and addiction. We want to fill the gaps in our go-to-market strategy and ensure we cover our blind spots.”

Jeffer explains that the company’s next milestones include bringing their MVP to market, conducting their first proof of concept and securing $150K in non-dilutive grant funding.

 

Jesina Studios works with refugee women in Toronto to design and develop handmade, customizable, and high-quality home decor and gifts.

“We believe this program will help us provide stable employment and professional development for refugee women who typically experience employment barriers in Canada,” explains Samantha Simunyu, one of Jesina Studios’s Co-founders.

The company hopes to refine its product offering, develop a go-to-market strategy and build meaningful relationships with other social innovators throughout the program. 

 

MakeRoom empowers marginalized and emerging artists with the resources to reach broader audiences and funding opportunities through various means, including projection installations.

Trevor Twells, the company’s CEO and Founder, explains that MakeRoom’s main mission is to provide funding and exposure for emerging BIPOC artists in particular.

The BIP Social Impact Stream will help the company scale up its regular operations to have more venue partners. The company aims to finalize its advertising revenue model, make industry connections to create advertising partnerships, and receive mentorship that will advise the founding team on how to reframe these partnerships and discover other monetization models.

 

OffTech aims to make high-quality education accessible to students in rural Canada in areas with no broadband connection. “We applied for the BIP Social Impact Stream because we believe the mentorship, connections, and tools we’ll receive from this program will offer valuable insights into the feasibility of our proposed solution.” says Ayman Abdulkadir, Co-founder of OffTech.

Over the next six months, OffTech hopes to validate its solution of making high-quality education accessible in rural Canada.

 

Outlit helps to educate the next generation of banking clients and ultimately aims to drive impact by helping new immigrants obtain financial freedom and a higher quality of life. Josh Earle, the company’s Founder & CEO,  explains that he applied to the BIP Social Impact Stream “to connect with, and learn from, like-minded entrepreneurs that are trying to represent the underrepresented collective of people.”

The company aims to fully launch its product, obtain over 250 users, and partner with nonprofits, schools, and financial institutions over the next six months.

 

Redeem Clothing Recycling is a for-profit company that provides a platform to donate used clothing items from the comfort of users’ homes.

Oghenemine Jarikre, the company’s Founder, diverts clothing waste in Canada and upcycles them into fashion accessories on the company’s platforms. Oghenemine hopes to increase human capacity, raise funding and improve donations through the program.

“I applied for the program to learn more about growing and running my startup. I believe the DMZ can provide the visibility my company needs, the right partnership, resources, and funding,” explains Oghenemine.

 

 

Reyts builds inclusive fintech solutions via a marketplace that allows users from minority communities to access and exchange underserviced currencies in a seamless and secure way.

Through the Black Innovation Program Social Impact Stream, Reyts hopes to bring the application to life by tapping into more financial services that can bring much-needed change to the payments space for immigrant communities. 

According to Ayobami Macaulay, the company’s Co-Founder, Reyts aims to regularize its compliance stance in Canada, onboard a banking partner and a payment service provider, and onboard the company’s first 1000 users within the next six months of the program.

 

Solooble is a mobile app that helps users monitor their financial commitments in real-time to keep on track with saving goals and never miss another bill payment. Lemuel Barango, the company’s Co-founder, hopes to reduce financial anxiety among Canadians.

“I applied to Black Innovation Program to contribute to, and benefit from, a network of Black innovators trying to drive social impact,” Lemuel explains. The company’s business goal for the next six months is to increase its user base to 500 users.

 

The Urban Guide (TUG) is an app that offers semi-virtual games and self-guided city tours that strengthen the urban cultural connection. The SaaS product enables rapid learning using gamification and predictive self-guided walking tours to enhance the familiarity of new cities and reduce culture shock.

Peter Odle, Founder of TUG explains he hopes to broaden his business knowledge, obtain the tools necessary to validate TUG, and surround himself with a group of Black entrepreneurs who embody a success mindset.

The Urban Guide hopes to grow their international Black business network by 200%, secure 5 additional institutional customers, and enhance the app UX to facilitate easier onboarding and user accessibility within 5 seconds.

 

We Funded It provides Afro Canadians with financial and mentorship resources for educational and entrepreneurship development. “I want to gain access to the DMZ network and raise funding to drive my organization forward,” explains Diana White, the company’s Founder and President. “We also hope to apply for charity status with the Canadian government and develop a corporate sponsorship program.”

We Funded It drives social impact by making finance-free funding and tailored mentorship accessible to improve economic empowerment, mental health, and overall well-being in Canada’s Black community.

Welkom-U provides pre-arrival settlement services to drive retention and grow the population of newcomers using technology. Tosin Ajibola, the company’s Co-founder & CEO, explains that fertility decline and population out-migration have resulted in a rapidly aging population in Atlantic Canada.

“We are using our technology and resources to attract a younger demographic, facilitate and encourage retention, and ultimately aid population growth,” explains Tosin. “As a Black-identifying tech and social entrepreneur, I’m hoping to network and understand how BIPOC are fairing in metro cities, and learn how to incorporate my findings in emerging cities in Canada.”

 

Interested in learning more about the BIP Social Impact Stream and keeping up with these companies? Read more here.

 

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