Burlington — The Ontario government is investing $2 million in Futurpreneur Canada, a non-profit entrepreneurship organization, to help 300 young entrepreneurs start a new business. This investment will create approximately 1,200 new jobs with a focus on rural and Northern communities in Ontario.
“Young entrepreneurs are vital to our future economy and our goal is to provide the tools, resources and capital they need to succeed,” said Nina Tangri, Associate Minister of Small Business. “Futurpreneur Canada’s Core Startup Program will support young entrepreneurs’ business dreams and help launch a new generation of successful businesses.”
Futurpreneur Canada, provides financing, mentoring tools and resources to aspiring business owners aged 18-39 through their flagship loan initiative, the Core Startup Program. The program offers collateral-free loans of up to $75,000, two years of mentorship and in-person programming. Ontario’s investment will support entrepreneurs in rural, remote, and Northern communities to boost economic growth and create new jobs in these regions.
“Today’s announcement of the Government of Ontario’s continued partnership with Futurpreneur will help grow our reach and impact, particularly with entrepreneurs from rural communities,” said Karen Greve Young, CEO, Futurpreneur Canada. “Through this funding, Futurpreneur will provide loans with mentorship to help young entrepreneurs in Ontario start 300 new businesses this year, contributing to inclusive and sustainable economic development across the province.”
Small businesses play a critical role in our communities and are an essential part of Ontario’s economy, employing over 2 million people. Ontario offers a range of programs and supports to assist entrepreneurs towards starting and growing new companies, including Regional Innovation Centres, Small Business Enterprise Centres, Starter Company Plus, Summer Company and tailored options, advice and business analysis through business advisory services.