With a nearly $1.6 million investment from FedDev Ontario announced last year, Sheridan EDGE has been driving substantial growth and innovation in the region’s entrepreneurial ecosystem. Central to these efforts is the Rise program, which partners with entrepreneurs from equity-deserving communities to scale impactful ventures. The program actively works to dismantle barriers, fostering a more inclusive path for diverse entrepreneurs. Since March 2024, Rise has welcomed 53 ventures over three cohorts, with nearly 100% of participants from underrepresented communities and 70% of women-owned businesses.
Rise’s mission is straightforward: equip diverse founders with tools, guidance, and support to drive sustainable growth in their ventures. Through individualized coaching, peer circles, supports to access service providers, networking opportunities, and even wellness resources. Rise takes a holistic approach to working with founders. This focus on developing business skills as well as the resilience to navigate challenges, helps founders move forward with confidence.
“Rise has helped me feel very intentional about fulfilling my purpose. I loved the one-on-one sessions, which helped me grow as a business owner and leader. This program has changed my mindset and shifted my focus to prioritize social impact. I have enjoyed working with this great team of people. It is the best incubator program. And it has been so rewarding. Thank you, Rise,” shared Krystle Marriott, Founder of Change the Art.
Within a few months of its launch, Rise has demonstrated its capacity to foster economic and social impact in the region. Collectively, Rise ventures have already generated $654,525 in sales revenue, raised $377,700 in funding, created 25 jobs, launched 93 new products and services, and developed intellectual property that strengthens their competitive advantage.
Looking forward, EDGE has ambitious goals for the Rise program. With FedDev Ontario’s support, Rise aims to partner with 200 businesses and facilitate the creation of at least 150 new products and services by 2027. This target reflects a vision of sustainable, community-driven growth where diverse entrepreneurs can access the resources they need to succeed on their terms.
The momentum created by Rise is more than a success story for individual founders; it signals a broader economic shift that acknowledges and champions the power of diverse leaders in business. By fostering a more inclusive entrepreneurial landscape, Rise is building a legacy that will shape the future of social entrepreneurship in Ontario and beyond.
