TORONTO, Sept. 27, 2023 /CNW/ - Today, the Canadian Council for Aboriginal Business (CCAB) and Hydro One announced the launch of the Hydro One Indigenous Entrepreneurship Grant for 2023. This year, 10 Indigenous entrepreneurs will each receive a $7,500 grant to expand their business and contribute to their communities' prosperity.
Past recipient, RAW Group, is an Anishinaabe owned medium to large general contractor group specializing in electrical, HVAC maintenance, concrete, civil works, and more. In 2022, with Hydro One and the CCAB's support, RAW Group was able to use the funds to expand their business and innovate within their industry.
"Receiving the Hydro One grant, with CCAB's support, was a pivotal moment in our business's evolution," said Morgan Messenger, Business Development Manager, RAW Group. "It provided us with the resources to invest in implementing the most current technologies, giving us the means to stay ahead of the curve."
"We're happy to be partnering with Hydro One once again," said Philip Ducharme, Vice President of Entrepreneurship and Procurement, CCAB. "We've seen how these grants positively impact Indigenous entrepreneurs, and it's clear that we have a shared commitment to fostering economic growth through the support of Indigenous businesses."
"At Hydro One, we're committed to Reconciliation and working together with communities to grow our network of Indigenous suppliers," said Penny Favel, Vice President, Indigenous Relations, Sustainability and President & CEO Remote Communities Inc., Hydro One. "We're proud to continue making this investment in the success of Indigenous-owned businesses that will foster Indigenous prosperity now and in the future."
Launched in 2021, the grant was created to provide financial assistance to Ontario-based Indigenous-owned businesses during the COVID-19 pandemic. CCAB research from the 2022 COVID-19 Indigenous Business Survey: Phase III report showed that Indigenous businesses continue to experience negative impacts due to the COVID-19 pandemic, with more than half (59 per cent) of the businesses that received government financial assistance reporting that the funding did not meet their needs.
As a gold-certified member in CCAB's Progressive Aboriginal Relations™ (PAR) program, Hydro One is committed to fostering an equitable and sustainable economy. This partnership is a part of Hydro One's commitments to direct at least 20 per cent of its corporate donations and sponsorships to Indigenous communities and organizations that benefit Indigenous communities, and to increase Indigenous procurement spend to five per cent of the company's purchases of materials and services by 2026.
Applications are now open and can be submitted until Oct. 23, 2023. To apply for the Hydro One Entrepreneurship Grant and for more information about eligibility, visit www.ccab.com/hydro-one-indigenous-entrepreneurship-grant-2023.
CCAB is committed to the full participation of Indigenous peoples in Canada's economy. As a national, non-partisan association, its mission is to promote, strengthen and enhance a prosperous Indigenous economy through the fostering of business relationships, opportunities, and awareness. CCAB offers knowledge, resources, and programs to its members to cultivate economic opportunities for Indigenous peoples and businesses across Canada. For more information visit www.ccab.com.
For more information contact:
Alannah Jabokwoam
Senior Associate, Communications & Public Relations
Canadian Council for Aboriginal Business
ajabokwoam@ccab.com
T: 416.961.8663 ext. 227
Hydro One Limited, through its wholly-owned subsidiaries, is Ontario's largest electricity transmission and distribution provider with approximately 1.5 million valued customers, approximately $31.5 billion in assets as at December 31, 2022, and annual revenues in 2022 of approximately $7.8 billion.
Our team of approximately 9,300 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2022, Hydro One invested approximately $2.1 billion in its transmission and distribution networks, and supported the economy through buying approximately $1.9 billion of goods and services.
We are committed to the communities where we live and work through community investment, sustainability and diversity initiatives. We are designated as a Sustainable Electricity Leader™ by Electricity Canada.
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For further information: Media can contact Hydro One Media Relations 24 hours a day at 1-877-506-7584 (toll-free in Ontario only) or 416-345-6868.
SOURCE Hydro One Inc.
