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CBDC Young Millionaires Program
Youth entrepreneurship support in Prince Edward Island
Last Update: June 5, 2026
Funding available
$ 200
Timeline
- Open Date : May 9, 2023
Location
Prince Edward Island, Canada
Overview
The Young Millionaires Program supports youth entrepreneurship in Prince Edward Island with a non-repayable start-up grant of up to $150 for sole proprietorships and up to $200 for partnerships. It includes workshops, mentoring, business plan development, and an interview before acceptance into the program.
/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
- Start a business
Eligible Funding
- Maximum amount : 200 $
Timeline
- Open Date : May 9, 2023
Eligible candidates
Eligible Industries
- Educational services
Location
- Prince Edward Island
Legal structures
- Sole proprietorship
- For-profit business
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
- Seasonal youth entrepreneurship training.
- Workshops on business fundamentals.
- Business idea and plan development.
- Mentoring and ongoing support for young entrepreneurs.
Official resources
Eligibility
Who is eligible?
- Youth entrepreneurs aged 9 to 16.
- Applicants in Prince Edward Island.
- Sole proprietors and partnerships.
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
- Start-up costs for launching a business.
- Business expenses only.
Eligible geographic areas
- Prince Edward Island.
- Central PEI.
- Eastern PEI.
- Western PEI.
- Charlottetown Area.
- Francophone PEI.
Selection criteria
- Completion of the application.
- Business idea and business plan.
- Interest and enthusiasm.
- Completion of workshops and interview.
How to apply
1
Pre-registration
- Express interest in the program by pre-registering online.
- Keep an eye on the opening of official registration in May.
2
Official Registration
- Complete the official registration form when it opens in May.
- Provide necessary details about the youth applicant and guardian's consent.
3
Application Submission
- Submit a filled-out application with the proposed business idea.
- Ensure the application reflects the business idea, enthusiasm, and interest of the youth.
4
Participate in Workshops
- Attend all scheduled workshops starting in June to learn business fundamentals.
- Engage actively in all workshops to acquire necessary entrepreneurial skills.
5
Develop Business Plan
- Create a detailed business plan based on the learnings from workshops.
- Include components like marketing strategies, budgets, and operational plans.
6
Interview
- Participate in an interview to assess the readiness and potential of the business idea.
- Prepare to discuss your business plan and answer any questions.
7
Program Acceptance
- Wait for acceptance into the program based on application, workshops, and interview results.
- Once accepted, receive a start-up grant to launch the business.
Processing and Agreement
- Applications are reviewed by the regional coordinator.
- Approved applicants receive a welcome email with next steps.
- Funding is not automatic after approval.
- Workshops, a simple business plan, and an interview are required before funding.
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
What is the CBDC Young Millionaires Program?
The Young Millionaires Program supports youth entrepreneurship in Prince Edward Island with a non-repayable start-up grant of up to $150 for sole proprietorships and up to $200 for partnerships. It includes workshops, mentoring, business plan development, and an interview before acceptance into the program.
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:
Youth aged 9 to 16
Workshops and business plan
Interview required
What expenses are eligible under CBDC Young Millionaires Program?
Seasonal youth entrepreneurship training.
Workshops on business fundamentals.
Business idea and plan development.
Mentoring and ongoing support for 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 Prince Edward Island.
Is the CBDC Young Millionaires Program a grant, loan, or tax credit?
CBDC Young Millionaires Program is a Grant and Funding