SOAR Offers Cash and Mentorship to Indigenous Startups

A unique competition for Indigenous entrepreneurs is offering not only a cash prize, but supports that may be even more valuable.

The SOAR Indigenous Entrepreneurship Competition is a program from the Saskatoon Regional Economic Development Authority (SREDA) awarding Indigenous entrepreneurs up to $30,000 in cash prizes as well as workshops, publicity, and tools, to help them grow their business.

“The idea behind this is to really strengthen their businesses so that they are able to advance and succeed in the work they want to do,” said Sarah Wolensky, director of marketing and communications at SREDA.

“It’s an opportunity for support and mentorship, having a network opened up to them and meeting with different industry professionals in the business community.”

The several phases of the SOAR competition include the application round, the Top 10 interactive workshops, the semi-finalist pitch, and the Top 5 Pitch Finale. The series of workshops include subjects such as accounting, marketing, and human resources.

The workshop facilitators, fellow entrepreneurs, and past SOAR alumni help participants build meaningful relationships and gain insight from those with experience.

“I think what they learn through the process that SOAR provides them is monumental. They get free advice from established and proven entrepreneurs,” said Milton Tootoosis, Chief Economic Reconciliation Officer at SREDA.

“With past winners, we’ve seen them grow and blossom. They get confidence and inspiration to keep going.”

Eligible entrepreneurs must be located in the Saskatoon region, be at least 51% Indigenous owned and independently operated, have between 1-20 employees, and must be in operation for two years or more.

The 2024 SOAR winner, Richard Wuttunee of RYP Mechanical, can testify to the boost that SOAR can give to those who commit to it.

“I think there’s massive learning to come out of it,”said Wuttunee, member of Red Pheasant Cree Nation.

“We’re just a bunch of dirty old tradesmen, so getting up there to a big crowd and pitching your business in a clear way is something I’ve never had to do before. It helped me speak about my business and plan better,” he said.

RYP Mechanical is a plumbing, gas fitting, and pipe fitting company that also offers new construction, renovation service, and installations.

He strongly believes that those Indigenous entrepreneurs interested in taking the next step in their business should dive into the SOAR program.

“If you’re thinking about getting into the competition, try not to think too hard about it and get into it. Put yourself out there,” said Wuttunee.

“If you’re an introvert, it’ll get you talking more. You have to be your biggest fan and push your business out there. If you don’t believe in yourself, it’s hard to make others believe in it.”

These convictions of self-empowerment have been a growing trend in the Indigenous business community. According to a 2024 study by the Queen’s University Smith School of Business, Indigenous entrepreneurs are creating businesses at five-times the rate of non-Indigenous Canadians.

“With our younger generation, I see a huge trend of people who are sick and tired of waiting for the perfect job. They’re saying I’m going to go create my own job,” said Tootoosis.

“They don’t want to get stuck in the lower end of the pile where there’s little chance of promotion. They’re saying screw that, I want to call the shots. And, the more access to information and startup capital is helping create opportunities.”

Tootoosis believes the types of small businesses that are popping up across Canada – the type that SOAR is promoting – is the lifeblood of a good economy.

“The majority of business and jobs are created by small and medium enterprises,” said Tootoosis.

“We need a greater rise in independent entrepreneurs, free from the politics of a typical band or tribal council owned company. I think individual, independent entrepreneurs, who have their own capital and are risk takers, can make better and faster business decisions than a board of directors.”

Applications for the SOAR competition are open until August 18, and can be found here:

https://sreda.com/grow-expand/indigenous-business/soar/

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