The Ontario government is investing an additional $6 million in Futurpreneur to help nearly 1,000 young entrepreneurs launch and expand businesses across the province.
The funding will provide entrepreneurs between the ages of 18 and 39 with access to financing, mentorship, networking opportunities and business planning tools. The province says the investment is expected to support more than 3,800 future jobs.
“Investing in Ontario’s young talent and the next generation of business leaders is key to securing a more competitive and resilient economy today and for the years to come,” said Associate Minister of Small Business Nina Tangri. “Through our continued partnership with Futurpreneur, our government is reducing the barrier to capital for young entrepreneurs. This investment will better equip young people to turn their ideas into reality, bring Ontario-made products to the market, create local jobs and protect Ontario’s economy.”
Futurpreneur provides collateral-free loans of up to $75,000, along with two years of mentorship and business support. The province said the latest investment brings Ontario’s total support for the organization to $15 million since 2021.
“This investment will ensure that hundreds of young entrepreneurs can access the financing, mentorship and resources they need to launch or buy successful businesses that will create jobs and strengthen local communities across the province,” said Karen Greve Young, CEO of Futurpreneur. “We are grateful to the Government of Ontario for increasing its commitment to Futurpreneur and our province’s next generation of business leaders.”
