Ontario Investing $2 Million to Help Young Entrepreneurs Start and Grow Businesses
Investment will support 320 young entrepreneurs.
The Ontario government is investing an additional $2 million in Futurpreneur Canada to help more young people develop and launch businesses and strengthen Ontario’s economy in the face of U.S. tariffs and economic uncertainty. The funding will support 320 young entrepreneurs between the ages of 18 to 39 with access to financing, mentorship and support to start and grow successful businesses. As part of its plan to protect Ontario, the government is making strategic investments that protect workers, support small businesses and build a stronger, more self-reliant economy.
“Young entrepreneurs are the backbone of Ontario’s future,” said Nina Tangri, Associate Minister of Small Business. “By investing in initiatives like Futurpreneur Canada, we are giving the next generation of business leaders the tools they need to succeed. These businesses will protect our economy, create good-paying jobs and build thriving communities across the province."
Futurpreneur Canada is a national not-for-profit organization that connects aspiring business owners with collateral-free loans of up to $75,000, two years of mentorship and in-person programming. Its flagship loan initiative, the Core Startup Program, helps youth aged 18 to 39 launch and grow their business. Since 2021, Ontario has provided $9 million in funding to Futurpreneur, helping to start and grow close to 1,200 businesses and create over 5000 jobs across the province, including in Northern, rural and remote communities.
“This renewed partnership with the Ontario government comes at a critical time for young adults across the province who are looking for meaningful ways to advance their careers and build a prosperous future,” said Karen Greve Young, Chief Executive Officer, Futurpreneur. “Thanks to this funding commitment, Futurpreneur will empower even more exceptional, young entrepreneurs to start or buy successful businesses that breathe life into all Ontario communities—whether urban, rural, remote, or Northern—not only by creating jobs, but also by connecting people.”
Small businesses are critical to the province’s economy, employing nearly two million people and making up 98 per cent of all Ontario businesses. Today’s investment builds on the government’s ongoing supports to help small businesses adapt, succeed and grow in Ontario. These include: Starter Company Plus, Summer Company, the Digitalization Competence Centre, the Retail Modernization Project Grant, and business advisory services through Ontario’s Small Business Enterprise Centres and Regional Innovation Centres.
