Toronto Metropolitan University’s DMZ has celebrated a milestone with its fifth annual Black Innovation Summit, themed “Black Means Business.”
The event marked the largest in its history, drawing over 400 attendees and awarding more than $400,000 CAD in funding to Black-led tech startups across Canada.
The 2025 edition highlighted the urgent need to back underrepresented founders. According to the BDC, Black entrepreneurs in Canada remain underrepresented but show strong export potential and optimism for growth.
The day featured a lineup of prominent figures, including businessman Frank Baylis, artist and entrepreneur Keshia Chanté, and Ontario’s Minister of Citizenship and Multiculturalism, The Honourable Graham McGregor. Together, they joined entrepreneurs, investors and policymakers to celebrate Black-led innovation, culminating in a competitive pitch session for Black founders.
Investment and grant awards were driven by DMZ Ventures, Tribe Network, and Capital M Ventures, with additional contributions from the Black Founders Network.
Among the top recipients was OutreachGenius, which secured $200,000 CAD in investment commitments for its AI-powered sales solutions for home-service businesses.
Happly.AI, a startup connecting founders to funding opportunities, received $75,000 CAD in investments and a $50,000 CAD grant.
Kiwi Charge, which offers autonomous EV charging units for buildings without infrastructure, earned a $30,000 CAD grant, while Cellect Laboratories received $20,000 CAD for its nanotech-based cervical cancer screening products.
OutreachGenius CEO David Owasi captured the event’s spirit, saying: “Relationships, relationships. The connections built here have been incredible. From my fellow founders, who I truly believe will shape the next few decades in Canada and beyond, to the investors and partners who are genuinely invested in seeing Black entrepreneurs grow. It’s been a real pleasure building these relationships, and I hope this is just the first of many.”
DMZ executive director and DMZ Ventures CEO Abdullah Snobar said, “This year’s Summit was our biggest yet, bringing together over 400 attendees from the Black entrepreneurial community and handing out the most funding in the event’s history. That’s not by accident.
“The theme ‘Black Means Business’ speaks to what we see every day: Black founders perform, drive innovation and fuel economic growth. While players in the space are pulling back, we’re doubling down because backing Black founders isn’t just the right thing to do, it’s one of the smartest bets you can make.”
The event also recognised young innovators through the Youth Entrepreneurship Award, with five emerging founders sharing $25,000 CAD in grants. Winners included Daniel Martinovic of Nodalli, Samira Mohamed of Stardoe Studio, Merveille Mukoko of Yekola, Chevon Riley of NORM, and Alexis Stackhouse of Global Elevation Network.
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