Weekly Updates: March 19, 2025 🚀
Learn about raising capital funding, Apply to work at Tribe, Tribe AI Launchpad, workshops, and more!
Bootstrapping vs. Raising VC Funding: Which Path is Right for You?
Starting a business is full of big decisions, but one of the biggest is how you fund it.
Do you grind it out on your own, using your own precious savings and revenue (a.k.a bootstrapping)? Or do you raise capital from investors to scale faster via venture capital?
There’s no one-size-fits-all answer, unfortunately. The right path depends on your goals, risk tolerance, and the type of business you’re building.
Let's take a closer look at each:
The Case for Bootstrapping 🥾
Bootstrapping involves growing your business without external funding, meaning you have to dig deep into your own pockets. It also means you get to keep full control of your company: No investors telling you what to do, and no pressure to scale before you’re ready.
It’s the slow-and-steady approach, but it forces you to be resourceful, customer-focused, and efficient with every dollar. Many great companies like Mailchimp and Spanx, took this route and built empires without outside funding.
The downside? Growth can be slow, and you might hit a ceiling if you don’t have the cash to invest in things like hiring, marketing, or product development.
The Case for VC Funding 💰
If bootstrapping is a well-trusted family car, venture capital (VC) is the equivalent of driving an F1 racecar. VC funding gives you the fuel to grow fast, especially if you’re building something with high growth potential — like a tech startup.
This route involves connecting with venture capital firms or individual investors who can inject your startup with the finances to help you scale quickly, hire top talent, and grab market share before competitors do. Companies like Shopify and Uber wouldn’t exist without VC funding.
But a dangling carrot comes with strings. When you take investor money, you give up equity (ownership), and investors expect a return — often pushing for aggressive growth. That can mean making decisions based on scaling fast rather than what’s best for the business long-term.
If you’re exploring this funding path as an underrecognized and racialized founder, it can be even harder. Tribe Ventures is Tribe Network’s venture fund dedicated to supporting diverse entrepreneurs who are often overlooked. Whether you’re looking for funding, mentorship, or just some guidance, we’re here to help. Learn more below.
So, How Do You Choose? 🤔
Ask Yourself:
✔️ Can you generate enough revenue early on to fund your growth?
✔️ Do you want full control or are you open to sharing decision-making?
✔️ Is your business in an industry like tech, where rapid scaling is necessary to survive?
At the end of the day, it’s about staying informed and thinking about what works for you. Some founders bootstrap first, prove their concept, and then raise funding when they’re ready. Others bring in investors early to move quickly. There’s no one way to go about scaling—just different strategies for different goals.
Whichever path you take, the key is to be intentional. It’s easy to get wrapped up in trends or other people’s opinions. Don’t get swayed, know your business, know your numbers, and choose the funding approach that aligns best with your vision.
Accelerate Black Tech Startup Showcase
Thursday, March 20 (5-7:30 PM) | Tribe HQ
Join us at the Tribe Network for an exciting event showcasing the latest innovations and ideas from the 10 Black tech startups that progressed through our Accelerate Black Tech program!
You'll have a chance to network with industry leaders, investors, and fellow entrepreneurs, take part in a panel discussion, and view product demos — all while discovering the next big things in tech. Plus, there’s only a couple tickets left, so get your tickets ASAP!
Will Your Idea Fly?
Wednesday, March 26 (5-7:30 PM) | Tribe HQ
Have a business idea but not sure if it will soar or flop? ✈️
Join us for a hybrid workshop, facilitated by Craig Elias and Brandy Old, where they'll help you validate business ideas, avoid common pitfalls, access frameworks from experts like Ash Maurya and tools like the Traction Canvas, and accelerate startup success.
This session helps participants understand an idea's ‘desirability’ so they can avoid spending time, effort, resources or money on an idea that nobody will want.
Youth Climate Pitch Competition | Tribe x HCi3
Apply by March 30th
Are you passionate about climate change and ready to make a difference? 🌎
The Youth Climate Pitch Competition, in partnership with HCi3 and Tribe Network, is here and we’re looking for young racialized innovators between the ages of 16-30 with ideas to advance clean energy and reduce green house gases emissions!
Pitch your solution for a chance to win up to $5000 👀, and bring your idea to life — all while making a positive impact on our planet 🌱
Applications close March 30th!
Tribe’s Hiring a Founder Success Lead (2SLBTQIA+)
Tribe is looking for a Founder Success Lead to support and advocate for 2SLBQTQIA+ entrepreneurs. This role will focus on mentorship, connection, and breaking barriers to help our founders access funding, resources, and key ecosystem opportunities!
If you have experience supporting 2SLGBTQI+ communities and a passion for entrepreneurship, we’d love to hear from you!
➡️To apply, send your resume to hr@tribenetwork.ca
Tribe’s AI Launchpad | Tribe x Scale AI
Meet Tribe AI Launchpad—an exciting accelerator program powered by Tribe Network and Scale AI!
With our new program, you can get access to up to $50,000 in funding, expert mentorship, and invaluable industry connections to take your AI solutions to the next level. 💸💡
This is your chance to fast-track your growth and contribute to Canada’s booming AI ecosystem. We’re looking for innovative startups and SMEs with applied AI solutions that can transform supply and value chains!
Things to Read, Watch & Listen To
📰 Read: Fear Isn't the Enemy — It's the Secret Weapon You're Overlooking | Entrepreneur
What if the thing holding you back was actually the way forward?
In this article by Entrepreneur, Chris Savage, co-founder of Wistia breaks down the re into the best ways to overcome the fear and anxiety that accompany entrepreneurship. He explains how fear isn’t something to eliminate, but rather harness.
With 19 years of experience in the industry, his thoughts on facing challenges head on, distinguish between fear and exciting, and rejecting the “spotlight effect” are valuable and definitely worth a read!
🎥 Watch: SPANX Founder Sara Blakely on Overcoming Fear of Failure in Business| Tony Robbins
“My definition of failure became not about the outcome, but about not trying.” — Sara Blakely
As the founder of SPANX, and the world’s first self-made female billionaire, Sara Blakely’s story will change the way you think about failure. In this video, alongside Tony Robbins, she credits her success to embracing failure and not fearing it. She also shares how her father encouraged her to see failure as a lesson rather than a setback. All in all, Sara’s approach to failure is a masterclass in resilience and leadership.
🎧 Listen: How Clever Girl Finance Went From Side Hustle To Worldwide Platform | Side Hustle Pro
If you've ever wondered how to turn your expertise into a thriving content-based business, this episode of Side Hustle Pro with Bola Sokunbi is perfect. As a finance expert and the founder of Clever Girl Finance, Bola has built one of the largest personal finance education platforms for women—while keeping it free and accessible.
She shares her journey from side hustling as a financial advisor to scaling her impact through courses and repeatable content. Whether you're an entrepreneur, creator, or just looking for smart business insights, this episode is packed with strategies on growing a sustainable, mission-driven brand.
Trademarks, Branding & Protecting your Business | Springboard Atlantic
March 20th 1:00PM ADT | Virtual
Join Springboard Atlantic and Erin Best, Partner and Trademark Agent at Stewart McKelvey, for an insightful webinar on trademarks, branding, and how to protect your business. Whether you're a startup or an established company, this session will provide valuable tools to ensure you have a sound strategy for protecting your brand.
Halifax Partnership & CBDC Blue Water Want to Hear from Business Owners 👇🏽
As part of their ongoing efforts to enhance the business environment and provide meaningful support, Halifax Partnership and CBDC are reaching out to the business community to better understand the current needs and challenges faced by businesses. Your input will directly influence their work to create a stronger, more resilient business community in HRM!
*They are also doing a draw for five $100 gift cards to a local business of choice for completing the survey!
Please take 5 minutes to fill in this survey.
Markets & Pop-ups: Ready, Steady, Grow | Rise
Join Rise for a FREE, in-person workshop tailored to help early-stage makers and small business owners sell successfully at a market and access local market opportunities. This workshop targets early-stage entrepreneurs who are ready to make sales; they have a product or service to showcase, and are eager to engage with customers.
Spring 2025 ideaBUILD Cohort | Emera ideaHUB
Applications close on March 31st , 2025
ideaBUILD is a 10-month rigorous program that offers founders a $10,000 grant towards prototyping materials, a 12-week bootcamp, and deep-tech-leading industry advisers who work alongside them to validate and build their product’s first operational prototype. This is an excellent opportunity for all early-stage start-ups throughout Atlantic Canada that are looking to build their product’s operational prototype!
MindFrame Connect Presents: Founders Play your Own Game | MindFrame Connect
Monday, April 7 | 11 AM - 12 PM
Brice Scheschuk explores themes about fundraising including the limited scenarios where venture capital makes sense, the concepts of outlier founders and venture scale growth, and numerous alternative capital paths that are applicable to most founders. He discusses the concept of “Mighty Middle” businesses which exist between venture capital and lifestyle businesses and provides a balancing narrative to venture capital as the key measure of success.
Nova Scotia Loyal | Producer Application
In these uncertain times, it’s more important than ever for Canadians to come together and support each other. One powerful way to do that is by making your product stand out as authentically Nova Scotian with the Nova Scotia Loyal sticker!
Nova Scotia Loyal is a government program designed to make it easier for Nova Scotians to identify, purchase, and support local products. When you see a Nova Scotia Loyal sticker or tag on a product, you know that it’s Nova Scotian.
Work Integrated Learning (WIL) Digital | ICTC
WIL Digital is an innovative work placement program that benefits both employers and students. WIL Digital helps employers grow their businesses by providing a wage subsidy of up to 50% of a student’s salary up to $5,000, or 70% up to $7,000 for underrepresented students. WIL Digital is funded by the Government of Canada's Student Work Placement Program (SWPP). ICTC is among the first organizations to deliver this program.
Startup Atlantic Events Hub | Startup Atlantic
Startup Atlantic has launched a new events calendar that serves as a one-stop hub for all startup events happening across the country. It includes things like workshops, pitch competitions, networking opportunities, and much more. Check it out!
Join BEKH’s Black Entrepreneurship Ecosystem Map | Black Entrepreneurship Knowledge Hub
The Canadian Black entrepreneurship ecosystem map will provide nation-wide visibility of your organization and services you provide as well as the Black Entrepreneurs you serve to customers, funders/investors, procurement opportunities, and more!
Startupfest’s Inclusion Initiative Is Back!
Startupfest’s Inclusion Initiative provides subsidized tickets each year to female entrepreneurs, Indigenous innovators, and diverse founders from various backgrounds. Startupfest and their partners are pleased to offer passes at a 90% discount ($50 commitment fee). Complete their online application form to be considered for an Inclusion pass.
Virtual B2B Matchmaking | Go Global
Last Thursday of every month | Virtual
Our Go Global Virtual B2B Matchmaking program connects businesses with international partners, clients, and stakeholders through an innovative, virtual platform. Held monthly on the last Thursday, these sessions provide a convenient and cost-effective way to expand your network, explore new markets, and forge partnerships without the need to travel. Join us and discover how virtual matchmaking can drive your global business growth.
Ecosystem Events
At Tribe, we deeply value community and building relationships. This is why we aim to keep you informed about events happening within the ecosystem that could be beneficial to your personal or professional goals. These events foster relaxation, networking and relationship building and might help you find your Tribe.
Make sure to look through the carefully curated events happening within the community and register for any that catch your eye and work with your schedule. These events are mostly free to attend; however, there might be some paid events.
Resources: Jobs, Grants, and Scholarships & More🔍
RESOURCES
JOBS
Finance & Admin Support Specialist | Celebrate Your Curves
Reconciliation Training Facilitators | Joint Economic Development Initiative
VOLUNTEER
General Volunteer at Akoma Holdings Incorporated Contact nmurphy@akoma.ca
Board members at Akoma Holdings Incorporated Contact nmurphy@akoma.ca
PROGRAMS
MacPhee Centre for Creative Learning Programs | various programs for youth ages 12-19
Invest NS Supplier Diversity Certification Pilot Program | Apply by March 17; 5:00pm AST
GRANTS
2025 Community Grants Program | Apply by March 31st
Amber Grants (majority women-owned businesses registered in the US or Canada)
Her Rise MicroGrant (majority women-owned businesses registered in the US)
SCHOLARSHIPS/ INTERNSHIPS
Promotion Requests
At Tribe, our mission is to empower members by offering access to capital, coaching, and a supportive community. We invite individuals and organizations to share opportunities or events with our members by completing this form. Providing us with all the necessary information ensures we can effectively and accurately promote your initiative.
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