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Courage

Courage is a Toronto creative agency that launched in May 2022, started by Dhaval Bhatt and Joel Holtby after they left Rethink, with Niki Sahni as president and partner. It is owner-operated and sits inside the No Fixed Address collective, and picked up CIBC as an early client.

AdvertisingTorontoFounded 2022
May 2022launched, backed by No Fixed Address co-founders Dave Lafond and Serge RancourtStrategy
August 2022Tom Kenny joined from Ogilvy as partner and chief strategy officer, the first executive hireStrategy

The people

DB
Dhaval BhattCo-founder & Chief Creative Officerprofile coming
JH
Joel HoltbyCo-founder & Chief Creative Officerprofile coming
NS
Niki SahniPresident & Partnerprofile coming

What they build

Creative and brand campaigns
Brand strategy

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Working at Courage

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On the TechTO stage

Every talk is searchable — ask the archive about Courage

About

Bhatt and Holtby were partners and creative directors at Rethink, where their work covered IKEA, Kraft Heinz, Molson Canadian, Honey Nut Cheerios and Scotiabank, before leaving to start their own shop. Courage launched in May 2022 as an independent, owner-operated agency within the No Fixed Address group, backed by NFA co-founders Dave Lafond and Serge Rancourt, with Niki Sahni joining as president and partner. Tom Kenny came in that August as partner and chief strategy officer — the agency's first executive-level hire — moving from the national CSO role at Ogilvy. Courage landed CIBC early and ran a first campaign with Nescafé. Kenny and Bhatt sat down together at TechTO in July 2024 to work through what AI does to marketing and advertising, from the advertiser's side of the table.

Backers

Independent and owner-operated, and part of the No Fixed Address collective; backed by NFA co-founders Dave Lafond and Serge Rancourt.

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Quick answers

What is Courage?

A Toronto creative agency launched in May 2022 by Dhaval Bhatt and Joel Holtby with Niki Sahni. It is owner-operated and part of the No Fixed Address group of agencies.

Who took the TechTO stage for Courage?

Tom Kenny, partner and chief strategy officer, and co-founder Dhaval Bhatt, in a July 2024 conversation about AI's effect on marketing and advertising.

Where did the founders come from?

Bhatt and Holtby were partners at Rethink; Kenny joined in August 2022 from the national chief strategy officer role at Ogilvy.

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Maintained by TechTO · facts sourced and dated · last reviewed Aug 7, 2026