The BlackNorth Initiative Aims to Boost Black Entrepreneurship

Temitope Isaac Olowolafe

· Entrepreneurship
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A Toronto entrepreneur, Temitope Isaac Olowolafe is a general partner of Dream Maker Ventures, a venture capital and real estate company. Moreover, Temitope Isaac Olowolafe is involved with the BlackNorth Initiative as the head of the group’s housing committee.

The BlackNorth Initiative aims to end anti-Black systemic racism in Canada by challenging inequities and empowering Black Canadians with a business mindset. The organization is raising funds to create a Black Business Development Hub, which will be a physical space used to help Black Canadians grow and nurture their businesses.

The initiative aims to encourage Black entrepreneurship with the hope that it will help Black Canadians build relationships and obtain the capital needed to succeed in other areas where inequality exists, such as home ownership. To that end, the organization is also working on creating a $65 million fund to provide financing to up to 200 Black families with low incomes in order to assist them with attaining home ownership. The fund would use bridge financing that would later go back into the pool after a house is sold or a mortgage is paid off, thereby becoming available to another family in need.