ADVANCE, Canada’s Black Music Business Collective, aims to works with partners to invest in the development of new, emerging, elevating and established Black-owned for-profit and non-for-profit music and/or music adjacent businesses.
ADVANCE, Canada’s Black Music Business Collective, in partnership with The City of Toronto and The Slaight Family Foundation, announces the launch of The B.A.G. (Black ADVANCEment Grant), which will inject over $200,000 into Canada’s Black-owned for- profit and non-for-profit businesses. ADVANCE funds are meant to financially assist Black-owned business professionals and entrepreneurs that support the music ecosystem at large. We recognize the lack of Black representation across all businesses types and understand the compounded lasting effects of the recent pandemic. To address the lack of access to financial resources, ADVANCE wants to ensure that there is support for entrepreneurs at the emerging, elevating, and established stages of their journey.
The B.A.G (Black ADVANCEment Grant) gives organizations and corporations an opportunity to receive a maximum of $80,000.00.
APPLICATION REVIEW PERIOD: 12 WEEKS
FUNDING AVAILABLE: $3000 - $80,000 (applicants are awarded varied amounts based on their budget, and current business position)
FUNDING AWARDED: 50% of total budget
FUNDING TIERS: 3 grants categories - Emerging, Elevating, Established
FUNDING PARTNERS: The City of Toronto and The Slaight Family Foundation
APPLICATION DEADLINE: SEPTEMBER 18, 2023
PROGRAM OVERVIEW
ADVANCE, Canada’s Black Music Business Collective focuses on the lack of Black representation on the business side of the music industry. As such, ADVANCE has shown that the lack of Black people in decision-making positions has limited the success of Black creatives. There will be increased economic effects on tourism, import/export of creative goods and services, film/television production, permanent residency, the labour force and trade, when we increase access to financial resources for Black businesses.
ADVANCE, City of Toronto and The Slaight Family Foundation have partnered to support the economic growth and development of EMERGING, ELEVATING and ESTABLISHED businesses. Funding will support operations, professional development, staffing, education, mentorship, economic growth and career development, sponsorship for persons interested in the business practices of the music industry.
PROGRAM FOCUS
To provide access to financial resources for Black Businesses
To support capacity building for Black Businesses
To provide business-focused mentorship to the Black community
PROGRAM STRUCTURE
For 2023-2024, the program covers 50% of expenses of the project.
Persons may submit one application per deadline. Black for-profit or non-for-profit business owners should adhere to the categories below:
Emerging (eligible for up to $5,000 in funding): Relatively new organization that has shown great potential. The emerging company has long term goals, with a plan on execution.
Elevating (eligible for up to $25,000 in funding): Has been in the industry 3+ years. They have not reached their full potential but there are current successes, and programs have been deployed.
Established (eligible for up to $80,000 in funding): Has been in the industry 5+ years. They have a strong following, and customer base. They have repeated their core programming multiple times.
A need to address different stages ensures that we are supporting the inter-generational group of Black business owners, addressing the various needs within the community. To see what program stream your business qualifies for, please SEE DEFINITIONS HERE.
PROGRAM ELIGIBILITY
Company must be majority Black-owned
At least (1) owner must be a permanent resident or Canadian citizen
Applicant must be a founder and majority shareholder of the business
Business must be registered and operating in Canada
Business must have been operating for 2+ years
Must be business that has a product or service in market
Must have a focus on providing products and services to professionals in the Music Sector
*Emerging Businesses can use part of their funding for non-for-profit business registration. This must be shown before they receive the 2nd installment.
HOW YOU CAN USE THE FUNDS
The Black ADVANCEment Grant funding can be used across various areas of your business to support growth, innovation, and overall success. You can review the Fund Allocation to see some key areas where grant funding can have a significant impact.
APPLICATION REQUIREMENTS
Applicants will be required to submit a deck or presentation including the following information:
Information about your organization
Detailed budget required to fund your organization or specific project
Deck or presentation must also clearly address the following questions:
How does/will your business aid in the success of Black music business professionals?
Has your business aided in the success of Black music business professionals in the past? If so, how was it done?
What is you/company’s annual goal(s)?
Why do you believe that Black music business professionals are important to the national music industry ecosystem?
How long have you been in operation?
How much financial support are you requesting?
Who are the company founders?
*** Letter of reference can be submitted but is not required unless you are applying for the Established Company Program.
Please fill out the budget sheet provided to help indicate how funds will be used for your upcoming goals. The budget sheet is required to be submitted with your deck presentation.
MONEY DEPLOYMENT
Two payments will be made to the organization - 50% upon approval, and remaining 50% upon approval of the final report (Due March 2025).
A short-list of applicants will be reviewed, and rated by the Board of Directors. The top rated projects will be sent for insight from the Advisory board, who will also rank the short-listed group. The amount of money given will be based on need ranging from $1,500 - $80,000.
Applications are now closed and recipients have been contacted. Thank you for your interest in The B.A.G.