Futurpreneur
Futurpreneur Canada makes it easier for aspiring young business owners to secure financing. And they have partnered with the Business Development Bank of Canada (BDC) to extend their support even further.
At a glance
Eligible Funding
- From 5,000$ to 60,000$
Timeline
- Open Date : April 01, 2024
Financing Type
Loans and Capital investments
Eligible Industries
- All industries
Grant Providers
- Futurpreneur Canada
Status
Open
Overview
Futurpreneur Canada offer collateral-free loans at better interest rates than most banks. We’re able to finance up to $20,000 per business. If you need more money, BDC may provide up to $40,000.
Eligibility criteria
Futurpreneur recognizes that every entrepreneur’s journey takes a different path. To be eligible for Futurpreneur's programs, entrepreneurs must be residents of Canada aged 18-39 who are citizens or permanent residents of Canada.
- Must be a resident of Canada aged 18-39
- Must be a citizen or permanent resident of Canada
Who is eligible
Yes, there are eligible types of companies for this grant. Futurpreneur supports entrepreneurs residing in Canada, ages 18-39, who are citizens or permanent residents of Canada.
- Entrepreneurs with a business idea and need help getting started
- Black entrepreneurs seeking support to launch their business
- Indigenous entrepreneurs looking for help to launch their business
- Entrepreneurs with a passion or part-time business idea to turn into a side hustle
- Individuals interested in buying an existing business or learning about entrepreneurship through acquisition
- Newcomer entrepreneurs needing assistance to launch their business
Who is not eligible
Yes, there are specific types of companies that are not eligible for this grant:
- Companies with founders above the age of 39
- Companies with founders who are not citizens or permanent residents of Canada
Eligible expenses
Eligible expenses for this grant may include:
- Business startup costs
- Marketing and advertising expenses
- Professional fees (legal, accounting)
- Equipment and supplies
- Salaries and wages
Eligible projects & activities
There are eligible projects for this grant:
- Launching a new side business while maintaining current employment or home responsibilities
- Acquiring an existing business or learning about entrepreneurship through acquisition
Eligible geographic areas
The eligible geographic zones for this grant are all provinces and territories in Canada.
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
Evaluation & selection criteria
Yes, there are evaluation and selection criteria for this grant.
- Application review to ensure eligibility
- Submission of supporting documents such as business plan and ID
- Final review of complete business plan and cash flow
- Approval of financing and mentor matching
- Completion of conditions and orientation
- Access to networking events and resources
How to apply
- Step 1: Reach out to register for one of our offerings.
- Content: Contact Futurpreneur to express interest in their offerings.
- Step 2: Tell us about you and your business.
- Content: Provide details about yourself and your business to ensure alignment with Futurpreneur's eligibility criteria.
- Step 3: Share your DRAFT business plan and cash flow.
- Content: Submit an initial business plan and cash flow statement. If unavailable, Futurpreneur can assist in getting started.
- Step 4: Review of credit and business plan.
- Content: Futurpreneur checks to ensure credit and the business plan meet their eligibility standards.
- Step 5: Share supporting documents.
- Content: Provide necessary documents such as final business plan, cash flow statement, business registration, and ID.
- Step 6: Share your COMPLETE business plan and cash flow.
- Content: Submit the finalized business plan and cash flow details for assessment.
- Step 7: Application review and financing approval.
- Content: Futurpreneur reviews the application, and upon meeting conditions, financing is approved.
- Step 8: Meet your mentor and complete orientation.
- Content: Engage with your assigned mentor and undergo orientation sessions.
- Step 9: Completion of conditions of approval.
- Content: Fulfill all necessary conditions for financing disbursement.
- Step 10: Financing approval and mentor support.
- Content: Receive financing and ongoing guidance from your mentor up to the business launch.
- Step 11: Resources for business launch and growth.
- Content: Access resources to aid in the launch and subsequent growth of your business.
Apply to this program
Grant Summary: Futurpreneur Offers Support for Young Entrepreneurs in Canada
Description of the Grant:
Futurpreneur is a leading organization in Canada that supports young entrepreneurs aged 18-39 with financing, expert mentorship, and resources to help them start and grow their businesses. The program offers a range of tailored offerings, including support for business ideation, startup financing, mentorship, and networking opportunities. Whether you are looking to learn more about entrepreneurship, start a new venture, or expand an existing business, Futurpreneur provides valuable support to help you succeed in the competitive business landscape.
Eligible entrepreneurs who reside in Canada and meet the age and citizenship requirements can access various programs offered by Futurpreneur based on their specific needs and goals. From learning resources and business planning tools to dedicated support for Black entrepreneurs, Indigenous entrepreneurs, and newcomers, Futurpreneur aims to empower a diverse range of individuals to achieve their entrepreneurial dreams.
With a focus on fostering innovation, creativity, and community impact, Futurpreneur plays a crucial role in shaping the future of Canada's business landscape by supporting the next generation of entrepreneurial leaders. By providing access to funding, mentorship, and skills development opportunities, Futurpreneur helps young entrepreneurs overcome barriers and build successful businesses that contribute to economic growth and job creation in Canada.
