Open
CBDC Young Millionaires Program
Support for Atlantic youth to start a business
Last Update: March 4, 2026
Funding available
$ 200
Timeline
- Open Date : May 9, 2023
Location
Nova Scotia, Canada
Overview
If your child is between the ages of 9 and 16, they can develop their entrepreneurial skills through a series of workshops and mentoring designed to help them start a business of their own.
/100
Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Develop a new product or service
- Develop workforce skills
- Launch or market a product/service
Eligible Funding
- Maximum amount : 200 $
Timeline
- Open Date : May 9, 2023
Eligible candidates
Eligible Industries
- Educational services
Location
- Nova Scotia
Legal structures
- For-profit business
- Sole proprietorship
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- Youth (<40)
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
The Young Millionaires Program offers a series of projects and activities designed to cultivate the entrepreneurial skills of youth aged 9 to 16. These activities provide a comprehensive exploration of entrepreneurship through practical and educational engagements.
- Entrepreneurial skill development through workshops covering creativity, innovation, marketing, and public speaking.
- Business idea and plan development with mentorship and support.
- Participation in group vending events and activities engaging family and community connections.
- Opportunities to develop and execute a business plan with potential start-up grants.
- Access to ongoing support to enhance problem-solving skills and learn from failure.
- Encouragement towards independence and confidence-building for aspiring young entrepreneurs.
Eligibility
Who is eligible?
This grant is part of the Young Millionaires Program, which is open to youth entrepreneurs aged 9 to 16 in Prince Edward Island, Canada. Applicants must complete the program prerequisites such as attending workshops, submitting a completed business plan, and participating in an interview process to be eligible for the start-up grant. The program welcomes individual applications as sole proprietors or as partnerships, with support provided through local delivery partners. Participants are evaluated on the basis of their application, business idea, business plan, interest, and enthusiasm in entrepreneurship.Who is not eligible
This program does not specify any particular industries or types of companies that are excluded from applying. However, it is inherently restricted to individual young entrepreneurs between the ages of 9 and 16, rather than registered companies or established industries.
Eligible expenses
The Young Millionaires Program funds activities that provide youth with both entrepreneurial skills and real-world business experience. Eligible projects include establishing and growing youth-led businesses, creating innovative products, and engaging in market opportunities.
- Creation and development of youth-led businesses with initial start-up support.
- Participation in workshops focused on business fundamentals like marketing and expenses.
- Producing and selling unique products or offering specialized services.
- Engagement in community vending events to gain market exposure.
- Partnering with peers in business initiatives to increase collaborative skills.
- Expanding business reach through strategic planning and exploring online markets.
- Accessing mentorship for ongoing entrepreneurial development.
- Participation in organized events and exclusive year-round venues.
Eligible geographic areas
This program is available to young entrepreneurs located across specific regions of Prince Edward Island, Canada. The eligible areas ensure support for youth enterprise development in both English and Francophone communities across the island.
- Central Prince Edward Island
- Eastern Prince Edward Island
- Western Prince Edward Island
- Charlottetown Area
- Francophone communities through RDÉE Ile-du-Prince-Édouard Inc.
Additional information
Here are additional relevant details for this grant:
- The program has been running since 1992 and is funded by the Atlantic Canada Opportunities Agency’s Business Development Program and Innovation PEI.
- Participants in the program are expected to engage in vending events and activities throughout the summer.
- The Shooting Stars program provides year-round support and mentorship for those continuing their business after initial participation in the Young Millionaires Program.
- The Youth Employment Program complements the entrepreneurial focus by providing skills-based work experience.
- Young Millionaires Program alumni have access to various perks and support options, indicating a strong alumni network and ongoing opportunities beyond initial program participation.
- Success stories highlight the significant earning potential and skill development achieved by past participants.
- Engagement with the community and collaboration with local businesses is encouraged through various program-sponsored events.
Contacts
Frequently Asked Questions about the CBDC Young Millionaires Program Program
Here are answers to the most common questions about the CBDC Young Millionaires Program. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.
What is the CBDC Young Millionaires Program?
If your child is between the ages of 9 and 16, they can develop their entrepreneurial skills through a series of workshops and mentoring designed to help them start a business of their own.
How much funding can be received?
CBDC Young Millionaires Program Funds up to $200 of admissible expenses.
Who is eligible for the CBDC Young Millionaires Program program?
To be eligible for the CBDC Young Millionaires Program program, you must:
Applicants must be youth aged 9 to 16.
Applicants need to complete a business idea and a detailed business plan.
An interview is required for acceptance into the program.
What expenses are eligible under CBDC Young Millionaires Program?
The Young Millionaires Program offers a series of projects and activities designed to cultivate the entrepreneurial skills of youth aged 9 to 16. These activities provide a comprehensive exploration of entrepreneurship through practical and educational engagements. Entrepreneurial skill development through workshops covering creativity, innovation, marketing, and public speaking.
Business idea and plan development with mentorship and support.
Participation in group vending events and activities engaging family and community connections.
Opportunities to develop and execute a business plan with potential start-up grants.
Access to ongoing support to enhance problem-solving skills and learn from failure.
Encouragement towards independence and confidence-building for aspiring young entrepreneurs.
Who can I contact for more information about the CBDC Young Millionaires Program?
You can contact Community Business Development Corporations (CBDC) by email at ymp@centralpei.ca or by phone at 902-887-3400.
Where is the CBDC Young Millionaires Program available?
The CBDC Young Millionaires Program program is available the province of Nova Scotia.
Is the CBDC Young Millionaires Program a grant, loan, or tax credit?
CBDC Young Millionaires Program is a Grant and Funding