The University of British Columbia’s (UBC) Sauder School of Business has been awarded a $1M grant under the 2024 TD Ready Challenge, presented by TD Bank Group (TD), to expand its Ch’nook Management Program. UBC Sauder is one of the 10 recipients of this grant.

This funding will go towards helping Indigenous entrepreneurs and small business owners develop, launch and grow their businesses. The impact of this funding goes beyond financial support—it represents a meaningful commitment to economic reconciliation, self-determination and the empowerment of future Indigenous business leaders. As Indigenous economies continue to grow and flourish, investments like this help ensure that the next generation of entrepreneurs has access to the education, mentorship, and resources necessary to drive sustainable, community-led innovation and prosperity.

Supporting Indigenous entrepreneurship and economic growth
The Ch’nook Management Program (CMP), formerly named the Aboriginal Management Program, is designed to build management capacity in Indigenous communities by equipping entrepreneurs and small business professionals with the skills, resources and mentorship needed to succeed in business. The program supports the long-term growth of indigenous-led enterprises, helping to shape the future of business in Canada for generations to come and offers business classes with Indigenous perspectives while creating a supportive and culturally relevant learning environment.

Since 2007, 287 learners from 146 Indigenous communities across Canada have graduated from the CMP. With this new funding, the program will increase 10 times to support 150 participants annually, or 450 over three years.

For Craig Settee, an alumnus of the program from the Fish River Cree Nation and Project Coordinator at the First Nations Health Authority, the experience was transformative.

“The Ch’nook Management Program provided an opportunity to forge relationships, develop my business acumen, and create a business plan. As a new dad, the full financial support from donors was greatly appreciated and made the program more accessible for me to attend. The mix of virtual learning and two weeks of in-person classes enabled relationships to develop and created an atmosphere of humour, curiosity, and training to strengthen our business planning skills. From the relationships developed with classmates, I have been able to stay connected, and a few have participated in some of my consultancy work. To me, this exemplifies the importance of this program: to create spaces, relationships, and Indigenous businesses to develop and flourish.”

The TD Ready Challenge grant program
The TD Ready Challenge is part of the longstanding commitment of TD to help make a meaningful impact in the communities it serves.

“We’ve seen firsthand the meaningful impact entrepreneurs and small business owners from Indigenous communities can have in helping to create thriving local economies,” said Doris Bear, Vice President, Indigenous Banking Group at TD. “That’s why through the TD Ready Commitment, our corporate citizenship platform, we’re proud to provide a $1M TD Ready Challenge grant to UBC Sauder for their innovative solution to empower and inspire Indigenous Peoples to turn their business dreams into reality.”

“We are deeply grateful to receive this grant, which will help strengthen and revitalize Indigenous economies through the Ch’nook Management Program at the UBC Sauder School of Business,” says Dennis Thomas-Whonoak, Executive Director of Indigenous Business Initiatives & Engagements at UBC Sauder. “It is inspiring to see organizations like TD demonstrate a genuine commitment to Indigenous entrepreneurs and small businesses. A thriving Indigenous economy is essential to reconciliation, and this grant empowers us to take meaningful action in fostering the next generation of Indigenous business leaders.”

UBC Sauder is committed to the rebuilding of Indigenous economies in alignment with the Truth and Reconciliation Commission: Calls to Action (TRC) and the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP). Achieving reconciliation will not be possible without vibrant Indigenous economies.

Addressing systemic barriers
Many Indigenous entrepreneurs and small business owners face systemic challenges, like limited access to capital, lack of culturally relevant curriculum and isolation in remote communities. One of the biggest challenges for Indigenous students entering business programs is finding culturally supportive spaces where they feel a sense of belonging.

CMP was created to help bridge these gaps and build management capacity in Indigenous communities by providing:

• Business education and management training rooted in Indigenous perspectives.
• Access to funding, mentorship, and networking opportunities.
• A hybrid learning model that balances accessibility with in-person learning.
• Real world experience presenting capstone projects to business leaders.

Expanding Indigenous business opportunities
With support from TD through the TD Ready Challenge grant, UBC Sauder will increase Indigenous learner’s access to CMP, ensuring more Indigenous entrepreneurs have the resources they need to succeed. Program graduates will gain the skills and confidence to establish and grow businesses that contribute to economic self-sufficiency and vibrant Indigenous economies.

The TD Ready Challenge is part of the Bank’s longstanding commitment to enrich the communities it serves. Each year, the TD Ready Challenge invites eligible organizations to submit applications that offer solutions to a problem statement that is connected to one or more of the four drivers of the TD Ready Commitment: Financial Security, Vibrant Planet, Connected Communities and Better Health. In previous years, the TD Ready Challenge has focused on systemic barriers to affordable housing, driving more equitable health outcomes, income stability and addressing pandemic-related learning loss.

For more information about the TD Ready Challenge and a full list of 2024 grant recipients, visit www.td.com/thereadychallenge.