Ontario Government Invests $2 Million to Support Young Entrepreneurs

The Ontario government has announced a $2 million investment in Futurpreneur Canada, a non-profit organization that supports young entrepreneurs. This funding aims to assist 300 young entrepreneurs in starting new businesses, with a focus on rural and Northern communities in Ontario. The investment is expected to create approximately 1,200 new jobs.

Futurpreneur Canada's Core Startup Program provides financing, mentoring, and resources to aspiring business owners aged 18-39. The program offers collateral-free loans of up to $75,000, two years of mentorship, and in-person programming. Ontario's investment will specifically support entrepreneurs in rural, remote, and Northern communities to boost economic growth and job creation in these regions.

Nina Tangri, Associate Minister of Small Business, stated that the goal is to provide young entrepreneurs with the necessary tools, resources, and capital to succeed. Karen Greve Young, CEO of Futurpreneur Canada, mentioned that the funding would help grow their reach and impact, particularly in rural communities, and support the creation of 300 new businesses this year.

Since 2021, Ontario has provided $7 million in funding to Futurpreneur, helping to start and grow nearly 900 businesses and create almost 3,500 jobs across the province. The provincial funding is available only to Ontario residents.