ELLA and Black Entrepreneurship Alliance (BEA), two programs from York University’s YSpace, have been honoured by the 2024 Economic Developers Council of Ontario (EDCO) Awards of Excellence with a new award created to recognize the impactful work of the York innovation hub.
As part of YSpace's efforts to create positive change by supporting innovators, entrepreneurs and changemakers, the BEA is a Black-led initiative established to advance the next generation of Black entrepreneurs and their ventures, creating opportunities and reducing inequalities in business along the way. Similarly concerned with addressing inequalities, ELLA is an accelerator that works to reduce the gender gap in entrepreneurship by providing tailored support to the next generation of women business leaders.
Recently, YSpace nominated both as candidates for the EDCO award in the Business Attraction and Retention – Urban category, which recognizes efforts in strengthening business development in urban communities.
In the process, YSpace got an unexpected surprise. While the entrepreneurship and innovation hub did receive an honourable mention in the category, the judges thought something special was in order to recognize the innovation hub's impact.
“Through the adjudication process the judges were so impressed with the submission from YSpace and York University for their YSpace ELLA and Black Entrepreneurship Alliance projects, they created a special award to recognize this outstanding work entitled the Judges Changemaker Award,” says Stephanie Crilly, EDCO executive director.
The new prize was created to celebrate initiatives demonstrating exceptional leadership in advancing economic development through innovative and high-impact programs driving economic growth and community empowerment.
For EDCO, YSpace’s ELLA and BEA programs stood out for their commitment to empower women entrepreneurs and Black-led businesses by offering critical resources, mentorship, funding access and a supportive network. EDCO made particular note of how both programs have played a key role in bridging systemic gaps in support for underrepresented entrepreneurs, enabling sustainable business growth. A recent example of that was the inaugural BEA Investment Bootcamp Demo Day which saw Black-led tech startups directly connect with government officials, members of parliament, and former prime minister Justin Trudeau.
“Winning the 2024 Judges Changemaker Award and receiving an honourable mention for Business Attraction and Retention is an incredible validation of our team’s dedication to supporting diverse and local entrepreneurs,” said David Kwok, director of entrepreneurship and innovation at YSpace. “These awards reinforce YSpace’s mission to create an inclusive and innovative ecosystem.”
The recognition from EDCO builds on YSpace's ongoing success and momentum in advancing numerous initiatives, including involvement in a federal program to support prospective immigrant entrepreneurs, expanding its Food & Beverage Accelerator program supporting over 100 racialized and women founders and helping advance early-stage, women-led social impact businesses.
With files from Jiho Bak.