Three Black-led start-ups win $170,000 at DMZ summit

BetaKit reported that three Black-led start-ups won a combined $170,000 at the sixth annual DMZ Black Innovation Summit. DMZ, an incubator, which is a program that helps young companies grow, is housed inside Toronto Metropolitan University and hosted the event.

Hey Cleo, an edtech (education technology) platform, won $100,000 from DMZ Ventures and a $10,000 grant from the Black Founders Network. Cuvris, a healthtech (health technology) platform, received $50,000 from DMZ Ventures. Carbon Saver, which automates carbon assessments for architects, won a $10,000 grant from Pitch Better.

In a news release, DMZ said investing in Black founders is a strategic imperative that drives economic growth. The pool is below last year’s record $400,000 for three winners.

A report by BKR Capital and Rep Matters found that only 0.15% of venture capital (investment in young companies in return for a stake) deployed in Canada in 2025 went to Black founders.

Sources: BetaKit