FUTURPRENEUR RECEIVES $2 MILLION COMMITMENT FROM GOVERNMENT OF ONTARIO IN 2022 BUDGET
Funding Will Support Financing, Mentorship, and Programs to Help Young Entrepreneurs Strengthen Local Economies by Launching New Businesses Across the Province
Toronto, ON (April 29, 2022) – Futurpreneur is excited to announce a new funding commitment from the Government of Ontario through a $2 million investment in yesterday’s Provincial Budget, presented by Minister of Finance Peter Bethlenfalvy. This funding will provide support to Futurpreneur’s Startup Program, which has helped young entrepreneurs launch more than 3,300 businesses across Ontario over the organization’s 25-year history.
“The Government of Ontario’s $2 million commitment in today’s budget will strengthen Futurpreneur’s capacity to support the growing demand we are seeing from aspiring, young entrepreneurs across the province who are ready to launch new businesses,” said Futurpreneur’s CEO, Karen Greve Young. “This investment will enable us to offer our proven, unique model of accessible financing and mentorship to more young entrepreneurs, in particular, women entrepreneurs and those from underserved communities, helping them to strengthen local economies, create jobs, and contribute to the resilience and growth of communities across the province at this critical stage of Ontario’s economic recovery. On behalf of our entire Futurpreneur team, our entrepreneurs and volunteer mentors, I want to extend our sincere thanks to Minister Tangri, Minister Bethlenfalvy, Minister Fedeli and the Ontario government for recognizing the important role youth entrepreneurship will play in Ontario’s long-term prosperity.”
Futurpreneur’s Startup Program provides young entrepreneurs age 18-39 with access to pre-launch business planning support, up to $60,000 in collateral-free loan financing (including BDC matched funding), up to two years of mentorship, and a wide range of business supports and programming. As Canada’s only national non-profit organization focused on supporting young entrepreneurs with financing and mentorship to help them start and succeed, Futurpreneur’s programming is unique in the startup ecosystem. In a recent survey, 87% of entrepreneur clients stated that they felt prepared when launching their businesses thanks to the skills they built, and the financing and mentorship support they received from Futurpreneur.
Yesterday’s announcement of an enhanced partnership between the Government of Ontario and Futurpreneur will ensure young entrepreneurs have the support they need at a crucial time in the province’s recovery from COVID-19. Young entrepreneurs are helping to lead the way out of the pandemic by creating new businesses that strengthen local economies, create jobs, and build long-term prosperity across Ontario.
Learn more about Futurpreneur’s programs, access free business resources, and learn about young entrepreneurs launching innovative and creative new businesses at Futurpreneur’s website.
Futurpreneur has been fueling the entrepreneurial passions of enterprising young Canadians for over 25 years. We are the only national, non-profit organization that provides financing, mentorship and resources to aspiring business owners aged 18-39. More than 15,000 young Canadian entrepreneurs, spanning every province and territory, have successfully launched their business with Futurpreneur’s support. Their main street businesses help drive Canada’s inclusive economic prosperity in communities from coast to coast to coast. Futurpreneur is a founding member of the G20 Young Entrepreneurs’ Alliance, the Canadian member of Youth Business International, and the Canadian host of Global Entrepreneurship Week.
Senior Vice President, External Engagement, Futurpreneur
Senior Manager, Government Relations