ONTARIO SUPPORTS ENTREPRENEURS SEEKING TO START AND GROW BUSINESSES
Province Partners with Futurpreneur Canada to Help Aspiring Entrepreneurs Succeed and Accelerate Women and Newcomer Entrepreneurship
FOR IMMEDIATE RELEASE
TORONTO, CANADA – MAY 7TH, 2018 – Futurpreneur Canada would like to thank the Government of Ontario for creating more opportunities for young entrepreneurs.
Through an investment of $2.4M over 2 years, this government has put young people and innovation at the heart of its goals. Leveraged with Government of Canada and other support, this contribution will give young entrepreneurs, including women and newcomers, the ability to launch and grow 535 new businesses across the province.
This partnership highlights the value Futurpreneur brings to the Ontario entrepreneurial landscape. Having supported the launch and growth over 2,400 new youth-led businesses across Ontario to date. Futurpreneur has worked with partners across the province to deliver the proven financing and long-term mentoring young entrepreneurs need for over 21 years.
“Through our partnership with Futurpreneur, we are building entrepreneurial confidence and skills in thousands of young people, women and newcomers across Ontario,” said Steven Del Duca, Minister of Economic Development and Growth. “This initiative adds to our successful existing programs to ensure that people across the province have access to the supports they need to create and grow their own businesses.”
Ontario’s support for Futurpreneur’s Start-Up program will stimulate business growth and innovation through:
- Pre-launch coaching (15-20 hours): to help youth plan, manage and grow their business, including online resources
- Low-interest loan financing (up to $45,000): $15,000 from Futurpreneur and up to $30,000 from the Business Development Bank of Canada (BDC), available with one application
- One-on-one mentorship (for up to two years): with an expert business mentor from Futurpreneur’s internationally recognized network of over 3,000 mentors
- Growth support: through scheduled check-ins and facilitated access to specialized advice, further financing and export resources
- A suite of targeted supports that will reduce barriers for young newcomer entrepreneurs.
“We are thrilled with Ontario’s investment in the Futurpreneur Start-Up program. This contribution will ensure more young Ontario entrepreneurs will have access to the resources and support they need to launch successful businesses,” said Rebecca Dew, Chief Financial Officer, Futurpreneur Canada. “We look forward to working with the Government of Ontario and other stakeholders in the Ontario ecosystem to make young entrepreneurs business dreams a reality.”
Supporting entrepreneurs on the path to success is part of the government’s plan to support care, create opportunity and make life more affordable during this period of rapid economic change. The plan includes free prescription drugs for everyone under 25, and 65 or over, through the biggest expansion of medicare in a generation, free tuition for hundreds of thousands of students, a higher minimum wage and better working conditions, and free preschool child care from 2½ to kindergarten.
About Futurpreneur Canada
Futurpreneur Canada has been fueling the entrepreneurial passions of enterprising young Canadians since 1996. We’re the only national, non-profit organization that provides resources, financing and mentoring to aspiring business owners aged 18-39. Our internationally recognized mentoring program matches young entrepreneurs with a business expert from a network of over 3,000 volunteer mentors.
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.
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