BIG NEWS – Ampere and the TD Ready Challenge
In 2024, Ampere (then the Pinnguaq Association) entered the TD Ready Challenge, an incredible initiative by TD Bank. The 2024 Challenge asked charitable and non-profit organizations to propose innovative approaches to supporting underserved small business owners to develop a business, launch a new business, or grow an existing business.
In January, Caitlin Patterson, Ampere’s COO, and Tanner Big Canoe, Director of Productions, participated in the final round of evaluations by TD’s North American Executive Judging Panel after becoming finalists.
That presentation went very well, and we’re excited to share that Ampere’s proposal was accepted as a recipient of the 2024 TD Ready Challenge.
Our proposal: Amp Up Small Business (in rural, remote, and Indigenous communities)
Here’s the overview of our winning proposal, called “Amp Up Small Business”:
Our goal is to develop a replicable, sustainable, and scalable program that will help low-income future entrepreneurs in underserved rural, remote, and Indigenous communities develop, launch, and grow small businesses.
In this two-year project, Ampere will deliver training workshops and provide support and services to up to 500 potential entrepreneurs in up to 12 rural, remote, and Indigenous communities in the North.
During the first year of the program, participants will develop the essential skills needed to launch and grow a small business, and by the end of the year will be guided in developing a business plan. In Year 2, interested participants will receive ongoing support (e.g., mentorship, co-working spaces, free upskilling courses, hiring support) as they launch or grow their small businesses. Additionally, a small group of participants will be selected for intensive investment through Amp Incubator, in return for committing a portion of future revenues to ongoing Amp Up activities, thus leveraging their successes to support the future successes of others. We will emphasize digital/software solutions in this project, including supporting businesses that wish to offer these as a product.
We expect to have 80% of participants identifying as Indigenous (primarily Inuit), 70% as women, 100% as low income individuals, 10% as LGBTQ2S+, 15% as people with disabilities, and 50% as individuals who have not completed high school. We will use a co-design process to ensure community-driven programming (e.g., customizing the training we deliver) and will provide wraparound support (e.g., laptops, Internet sticks, childcare subsidies) to reduce technological, economic, and social barriers to participation. With our established presence in the North and our network of 100+ organizations/employers across Canada, we are confident that we can provide personalized and culturally responsive support to underserved entrepreneurs.
Our ultimate goal is to disrupt systemic barriers faced by low-income entrepreneurs in rural, remote, and Indigenous communities, while cultivating a more inclusive and supportive entrepreneurial landscape in Canada.
More news to come!
As you can imagine, we’re excited about this opportunity, and very thankful to the selection committee and TD Bank for making this all possible. We’re still in the early days, but we’ll be sharing more information about the Amp Up Small Business program soon – stay tuned!