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Winnipeg Free Press
22-05-2025
- Business
- Winnipeg Free Press
Wiitahnookiinitaw Tahshkayzing Entrepreneurship Centre unveiled
Kyra Wilson faced a steep learning curve when she became an entrepreneur four years ago. 'Within the first two years, I really learned what not to do as a business owner,' she said. 'If this entrepreneurship centre was here, then I would have been able to receive that support on what I should have done initially.' Wilson, now grand chief of the Assembly of Manitoba Chiefs, relayed the story Wednesday morning during her remarks at the grand opening of the Wiitahnookiinitaw Tahshkayzing Entrepreneurship Centre in Winnipeg. Ruth Bonneville / Free Press The Treaty One Development Corp.-created WTEC is Canada's first fully Indigenous-led business incubator. Its space on the fifth floor of the Wawanesa Building in Winnipeg is currently being renovated. It will temporarily operate out of the eight floor until work is done. An initiative of Treaty One Development Corp., the centre is Canada's first fully Indigenous-led business incubator. Indigenous people have many great ideas and entrepreneurial gifts, Wilson said. 'When we're supported and we're guided on that path then … many barriers are removed and we're able to be successful in that journey.' Located in Wawanesa Insurance's former executive office at 191 Broadway, the centre will be a place where Indigenous entrepreneurs can access capital, legal and financial guidance, mentorship, marketing support and business connections. During her remarks, Kathleen BlueSky, chief executive officer of both Treaty One Development Corp. and the new centre, noted the WTEC's proximity to The Forks. 'The first international trade centre in Canada and it was led by First Nations people,' she said. 'This really is about coming back to the roots of what economic development means from an Indigenous perspective and providing the resources, the supports, the partnerships for people to be successful.' The purpose of the centre is to support the next generation of business leaders, she added. 'It's a place that's built by us, for us and that is fundamental to empowerment and self-determination.' Wiitahnookiinitaw tahshkayzing are Anishinaabemowin words meaning 'working together to succeed' — a reminder of the strength that lies in community and collaboration, BlueSky said. In addition to the Winnipeg office, WTEC is setting up two satellite entrepreneurship hubs: one in southern Manitoba in Roseau River Anishinabe First Nation and the other in the North in collaboration with Nisichawayasihk Cree Nation. WTEC will focus on working with Manitobans initially, BlueSky said, but the intent is to eventually make it available to entrepreneurs from across Canada. BlueSky anticipates the centre will work with 20 to 30 entrepreneurs in its first year, expanding to 100 or 200 'in the next couple of years.' WTEC is a collaboration between Treaty One Development Corp. and more than 15 government, academic and industry partners. The centre has received $750,000 in investments thus far from public and private sponsors, including $500,000 from the provincial government through its Indigenous Economic Development Fund. The Manitoba government is proud to support the centre and looks forward to the legacy it will create for generations to come, said Ian Bushie, minister of natural resources and Indigenous futures. Ruth Bonneville / Free Press Kathleen BlueSky, CEO of Wiitahnookiinitaw Tahshkayzing Entrepreneurship Centre, Canada's first Indigenous-led entrepreneurship centre. 'Today is historic,' Bushie said. 'I'm not sharing any secrets when I talk about the economic horsepower in Indigenous communities because it truly is there.' The centre's partners include Wawanesa, which is contributing mentorship, networking support, programming collaboration, financial support and the use of its building. 'When we moved into our new headquarters just a few blocks away, we wanted to use this building to benefit our community and work with corporations and organizations to bring more people and teams downtown,' said Gord Dowhan, senior vice-president and chief financial officer at Wawanesa. Monday Mornings The latest local business news and a lookahead to the coming week. 'There's no doubt in our minds that WTEC is the perfect fit to see this building transformed into a hub where Indigenous entrepreneurs can grow, connect and thrive in an incredible, meaningful way.' Other partners contributing financial support, programming collaboration and expertise include Red Leaf Capital, Deloitte, Bockstael Construction, the University of Manitoba's Asper School of Business and the Winnipeg Airports Authority. WTEC is currently renovating a 5,000-square-foot space on the fifth floor of 191 Broadway. Once completed, it will feature a boardroom, meeting room, open work area and offices where entrepreneurs can work and meet with advisers and mentors. Until the renovations are complete, the centre is temporarily located on the building's eighth floor. According to the National Indigenous Economic Development Board, more than 50,000 Indigenous-owned businesses in Canada contribute $31 billion to the country's gross domestic product annually. Aaron EppReporter Aaron Epp reports on business for the Free Press. After freelancing for the paper for a decade, he joined the staff full-time in 2024. He was previously the associate editor at Canadian Mennonite. Read more about Aaron. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. 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The Star
29-04-2025
- Business
- The Star
FBM KLCI holds on to recent gains amid return of foreign interest
KUALA LUMPUR: Investors on Bursa Malaysia are taking time to digest recent gains as Wall Street ended mixed overnight ahead of the release of quarterly results from Big Tech. On Malaysia's main index, blue chips took a breather below the 50-day simple moving average after four consecutive days of gains with foreign funds returning to the oversold market after a protracted selling streak. The FBM KLCI stayed nearly flat against the previous day's closing level - opening just 0.61 points lower at 1,520.98 to hold steady at four-week highs. According to Rakuten Trade, it was surprised by the sudden U-turn by foreign funds, which prompted a net inflow of US$540mil into the domestic market over the last three sessions. "If such buying continues, we may see the index to hover between the 1,520-1,530 range today and surpass the crucial 1,530 mark anytime soon," it said in its review. In domestic sectors, Malacca Securities Research said cybersecurity stocks are getting their turn in the limelight after the rising incidents of cyber threats. "We remain positive on cybersecurity stocks like LGMS and Cloudpoint, as we believe market participants will realise the importance of cybersecurity as global digitalisation effort accelerates and we expect software related stocks to be less impacted by the reciprocal trade tariffs," it said in its review. It added that traders could focus on selected construction, O&G, technology, utility and glove stocks for the session, as well as WTEC, which is making its debut on the ACE Market today. WTEC, a foam products manufacturer, is one of the most actively traded stocks in early trade, but is receiving a lukewarm welcome. Opening flat at 25 sen apiece, the share was down 0.5 sen (2%) in the first 15 minutes of trading with seven million shares traded. Other shares seeing active trading action included NexG up one sen to 38 sen and Jiankun flat at three sen. On the FBM KLCI, Nestle jumped RM1.92 to RM82.30 following its results announcement yesterday, amid suggestions the consumer giant's prospects could be turning around. PETRONAS Dagangan gained 12 sen to RM19.10 while Hong Leong Bank slid 14 sen to RM19.86.
