The Importance of Entrepreneurship and Impact Post-Pandemic

THE IMPORTANCE OF Entrepreneurship

AND IMPACT POST-PANDEMIC

The COVID-19 pandemic has strengthened calls to reimagine how society functions – and innovators are responding. Entrepreneurs are creatively addressing pandemic challenges with solutions that contribute to both economic recovery and social development.

RENEE DEVEREAUX

Director of Entrepreneurship and Changemaking at EDGE

Since 2018, Sheridan’s EDGE Entrepreneurship Hub has supported more than 200 startups, cultivating a vibrant community of people who believe entrepreneurship can make lasting change in society, even as we face tough questions about how businesses will survive and thrive post-COVID.

Increasingly, our founders are taking up the challenge of a triple bottom line (people, planet and profit) approach. So how do we position changemakers and their bold solutions for success?

One way is to ensure more ideas get to the table. Over 60% of EDGE founders are from communities traditionally underrepresented within entrepreneurship, including youth, women and people from racialized communities. Fostering inclusive approaches to entrepreneurship enables the diversity of thought and experience that fuel innovation and generate solutions that benefit our entire community.

Networks are key to supporting emerging founders and fostering the collaboration needed to realize bold visions. EDGE has hosted 270 virtual events since March 2020, many in collaboration with Mississauga businesses like The Kern Group and Meridian Credit Union. Mentoring sessions provide EDGE founders with first-hand insights into the local economy and develop their sales and financial management skills. We’ve also partnered with the Community Foundation of Mississauga to provide social ventures with funding and opportunities to develop their social impact and social finance fluency.

This community-based approach is working. EDGE entrepreneurs are embracing today’s complexity and taking action. LinkMentalHealth is an online platform helping users easily connect with therapists – a key resource in a time when mental health awareness is paramount. Bootcamps for Change helps youth experiencing homelessness reach their full potential through physical activity and industry employment – another essential service at a time when youth are struggling.

These successful startups, and others percolating in the minds of Mississauga’s entrepreneurs, will contribute to sustainable economic recovery. They also remind us of the creative potential that exists during difficult times. Continued investment in entrepreneurs and startup culture will ensure local businesses – and Mississauga’s innovation ecosystem – continue to thrive. 

If you’re eager to work with emerging changemakers, share your expertise and support a triple bottom line approach to economic recovery, connect with EDGE to learn more: edge@sheridancollege.ca.