LAB B Helping Entrepreneurs with Upcoming Event
While so many people dream of creating their own business, the reality is tougher to navigate—especially in a world where technology and the economy are changing all the time.
But while it's hard to establish a business, it's not an impossible and the people behind Brampton's LAB B are helping people get a headstart at its upcoming ACTIVATE hackathon event.
In partnership with Ryerson University and Enactus, ACTIVATE is focused on starting companies that have both social impact and profit goals.
The event, which will consist of facilitated workshops and various mentor opportunities, is focused on allowing social innovators to pitch their ideas to various experts, while validating their current business plans. Awards of $5,000 will be granted to successful applicants to help ready their concept for market testing. This award will be provided by Ryerson's Social Enterprise Development Fund (SEDF).
Since 2014, LAB B, which is located at the Old Mill Building in downtown Brampton, has been working to support and help entrepreneurs (both creative and technical) within the city. At its core, it functions as a community hub where creative people, freelancers and entrepreneurs come together and innovate.
The organization has worked with members in the community to kick start 21 businesses and 14 grassroots groups since its inception. It is coming off a landmark 2016, as it was awarded a $300,000 investment, courtesy of the Ontario Trillium Foundation's Youth Opportunities Fund. The money has gone towards various community initiatives.
LAB B was recently visited by Premier Kathleen Wynne, who was in town last week to kick-start talks regarding a University in the flower city.
Activate, which takes place this Saturday, Jan. 21 at the Canon Headquarters (8000 Mississauga Road), continues LAB-B's mission for continued experiential learning and opportunity within Brampton. The event is expected to attract quite a few attendees, all of which will be competing to make an impact with their socially-driven business ideas.
The event is offering $5000 rewards for entrepreneurs focused on starting companies that have both social impact and profit goals. The day will consist of facilitated workshops, problem solving with mentors and validating your business case. At the end of the day, participants will have a clear value proposition and an understanding of the market to apply for a $5000 award from Ryerson University's Social Enterprise Development Fund (SEDF).
ACTIVATE provides an opportunity for social innovators to pitch their idea to experts, and to substantiate their business plans.
This fund is open to individuals 18 to 35 years old with an idea for a social enterprise that will be located, or operating, in the GTA. If your project is accepted, you must register your social enterprise as a co-operative, for-profit or not-for-profit organization in Ontario in order to receive funding.
Participants are expected to have conducted a preliminary scan to determine if their proposed idea already exists. Participants should be able to explain how their idea improves an existing product, service and/or how their idea compares to existing competition in the marketplace.
To RSVP for the event, click here.
For more information, click here.