DMZ’s Black Innovation Summit returns for year five with over $300,000 in grants and investments to back Canada’s most promising Black tech founders
Highlighting why Black Means Business, the Summit will showcase how investing in Black founders drives innovation, outperformance and Canada’s economic growth.
Toronto, ON, Aug. 19, 2025 (GLOBE NEWSWIRE) -- DMZ, a global startup ecosystem, announced its fifth annual Black Innovation Summit (BIS) taking place on October 30, 2025 in Toronto. This year’s Summit will convene Black entrepreneurs, investors, corporate partners and allies for a one-day event dedicated to celebrating Black excellence.
At the centre of the Summit is a high-stakes pitch competition where 10 Black founders will compete live on stage for over $300,000 in grants and investments. Driving this funding are the commitments of valued partners, including DMZ Ventures, the for‑profit investment arm of DMZ; the Government of Ontario’s Ministry of Citizenship and Multiculturalism; Capital M; and Tribe Ventures.
The 2025 Summit theme, Black Means Business, shines a spotlight on the brilliance, innovation and economic impact of Black entrepreneurs from coast to coast. The theme underscores a powerful message: investing in Black founders is not only the right thing to do, it is a strategic imperative that fuels economic growth and the startup economy.
BLACK INNOVATION PITCH COMPETITION
Open to Black tech founders from across Canada, the pitch competition offers a platform to secure funding and accelerate business growth. 25 founders will be selected to receive personalized pitch advisory sessions, participate in curated programming, and gain valuable marketing and PR exposure. Of these, 10 finalists will take the stage at the Summit to pitch live for over $300,000 in grants and investments. Past Summits have fueled the growth of standout startups like Cleanster, a cleaning platform for property owners and short-term rentals.
“DMZ’s Black Innovation Programs and the Summit have opened up so many doors for Cleanster,” said Gloria Oppong, Co-Founder and CEO of Cleanster and 2024 Summit funding recipient. “From the mentorship, the network, and the support to formulate your pitch, this community has helped me refine the business and how I can share it with the world.”
YOUTH ENTPRENEURSHIP AWARD
The Youth Entrepreneurship Award will honour exceptional young entrepreneurs who embody innovation, determination and impact. Presented at the Black Innovation Summit, the award recognizes Black-identifying entrepreneurs between the ages of 18 and 29, residing in Ontario, who are currently operating a business and have achieved significant milestones in their entrepreneurial journey. Honourees will share a $25,000 pool in youth grants.
“This year’s Black Innovation Summit is about showing why backing Black-founded businesses is one of the smartest moves you can make, " said Abdullah Snobar, Executive Director of DMZ and CEO of DMZ Ventures. “We’re putting a spotlight on where Black founders are thriving, how they’re outperforming in key markets and why investing in them fuels real economic growth.
DMZ is proud to bring the Summit to life in collaboration with Scotiabank, the presenting partner; contributing partners Torys LLP and the Government of Ontario; and community partners Black Entrepreneurship Alliance, Humi, Futurpreneur and Nobellum.
Scotiabank, a longstanding supporter of DMZ’s Black Innovation Programs since 2020, has helped expand opportunities for Black entrepreneurs, and their longstanding commitment continues as they will host this year’s Summit.
Applications for the Black Innovation Pitch Competition and nominations for the Black Youth Entrepreneurship Award are open at dmz.to/BIS. The deadline to apply to the pitch competition is August 22, 2025 and nominations for the Youth Entrepreneurship Award close September 2, 2025.
ABOUT DMZ
DMZ is a tech incubator and startup ecosystem that fuels entrepreneurship in Canada and beyond. Through its award-winning programs, DMZ empowers founders to scale high-impact ventures, helps students develop entrepreneurial mindsets and equips professionals to thrive in today’s fast-moving economy. By offering tailored support, world-class resources and expansive networks, DMZ nurtures bold ideas, drives business growth and creates global economic impact.
To date, DMZ has supported 2450+ startups in raising $2.95 billion in capital and has created over 25,300 jobs. Headquartered in Toronto, DMZ operates a global network of hubs spanning 15+ countries, enabling entrepreneurs to access diverse markets, collaborate internationally and drive global innovation.
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Luvy Hardy DMZ luvy.hardy@torontomu.ca
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